Mauritius police have issued an arrest warrant for former central bank governor Harvesh Kumar Seegolam, who is currently out of the country.
This arrest warrant is part of a wider investigation into allegations of financial misconduct, as detailed in a recent parliamentary report. Details of the specific charges remain undisclosed.
A parliamentary report accuses the Bank of Mauritius of illegally printing money to fund the Mauritius Investment Corporation, established in 2020 to mitigate the economic effects of the COVID-19 pandemic. Instead of using official foreign exchange reserves as intended, the bank allegedly printed money, causing significant damage to the monetary system, potentially contributing to inflation and currency instability.