Mauritius’ Bheenick: we must save more
The downward trend in the savings rate in the economy has been a subject of growing concern to us for quite some time, said Rundheersing Bheenick, the governor of the Bank of Mauritius.
Bheenick noted the savings rate had tumbled from nearly 30% at its peak in 1992 to 26% at the start of the millennium and now stood dangerously close to 12%. The governor said the central bank was launching a "Saving for a Better Future" programme which, he hoped, would help foster a better culture of savings for
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