Finance Turmoil: Mauritius' Ex-Minister Wanted Amid Embezzlement Probe

Mauritius has issued an arrest warrant for former finance minister Renganaden Padayachy linked to an embezzlement probe. Concurrently, former central bank governor Harvesh Seegolam was charged with conspiracy to commit fraud. The government under Prime Minister Navin Ramgoolam alleges economic mismanagement and data falsification by the previous administration.

Mauritius is embroiled in a financial scandal with an arrest order issued for its former finance minister, Renganaden Padayachy, amid an embezzlement investigation. This development comes just days after Harvesh Seegolam, the former central bank governor, was detained and released on bail, charged with conspiracy to commit fraud.

The actions against Padayachy and Seegolam mark significant steps by Prime Minister Navin Ramgoolam's government, which has accused the previous administration of misrepresenting critical economic data such as GDP, budget deficit, and public debt for years. These issues accentuate the economic mismanagement claims levied by the current administration.

The arrest order issued for Padayachy relates to allegations involving the misappropriation of 45 million rupees tied to the Mauritius Investment Corporation and the company Menlo Park Ltd. Padayachy has yet to comment on the situation, while Seegolam's legal representative also declined to speak on the charges following his release.

(With inputs from agencies.)