FACTBOX-Mauritius votes in closely contested poll on May 5

April 30 (BestGrowthStock) – Mauritius will hold parliamentary
elections on May 5 with the ruling Labour Party tipped to win a
close contest on the Indian Ocean Island. [ID:nLDE63T18P]

Here are some key facts about the leading political figures
and the economy:

POLITICAL PLAYERS

* Navinchandra Ramgoolam, 62, is prime minister and leader
of the ruling Labour Party. He first held the office from
1995-2000 and then again from 2005. He has formed an alliance
with the Militant Socialist Movement (MSM) which he defeated in
the last ballot in 2005. He is son of Sir Seewoosagur Ramgoolam
who led the island to independence from Britain in 1968.

* Paul Berenger, of French descent, leads the main
opposition party, the Mauritian Militant Movement (MMM) and is
the only non-Hindu politician to have served as prime minister
from 2003-2005 after he formed a coalition with the MSM. That
coalition was defeated by Ramgoolam in 2005.

* Pravind Jugnauth is the son of the incumbent President and
former Prime Minister Aneerood Jugnauth and is a former deputy
prime minister and one time finance minister. He trained in law
in Britain before entering his father’s Militant Socialist Party
which he became leader of in 2003.

ECONOMY

* Mauritius’ almost $10 billion economy is forecast to grow
at 4.6 percent in 2010 from 3.1 percent last year. Analysts say
a timely $340 million stimulus package closely coordinated with
an aggressive easing of monetary policy helped the island
weather the global economic slump better than expected.

* Once based on sugar and textiles, the economy has
diversified into tourism, offshore banking, ICT and business
outsourcing. It markets itself as a bridge between Africa and
Asia and has cut red tape and simplified taxes to entice foreign
investors.

* Mauritius’ annual average inflation eased to 1.9 percent
in March from 2.1 percent in February, and a peak of 9.9 percent
in Novermber 2008 after soaring oil and food prices globally
drove the rate up.

* Government debt as a ratio of GDP (gross domestic product)
is seen at 50.4 percent at end Dec. 2010 against an estimated
50.5 percent a year earlier, according to the 2010 budget. For
the same periods, public sector debt will be 58.7 and 59.6
percent respectively.

* Mauritius is seeking to tap into the $1 trillion Islamic
finance industry. The central bank also has plans to offer
sharia-compliant short-term liquidity tools. [ID:nLM527097]

Stock Investing
(Editing by David Clarke

FACTBOX-Mauritius votes in closely contested poll on May 5