On 25 September 2025, Dr Priscilla Muthoora Thakoor was appointed Governor of the Bank of Mauritius, for a three‑year term from 29 September 2025. She is the first woman ever to hold this important role. At the same time, Ramsamy Chinniah was named Second Deputy Governor for a three‑year term, effective 29 September 2025.
The public notice from the Bank of Mauritius confirms that the President made these appointments in accordance with the law and on the Prime Minister’s recommendation.
Who is Dr Priscilla Muthoora Thakoor?
Dr Priscilla Muthoora Thakoor holds a PhD from Oxford University. She has worked at the International Monetary Fund (IMF) since 2009 and is an expert in economics.
Who is Ramsamy Chinniah?
Ramsamy Chinniah has worked at the central bank for over 40 years and is very experienced.
Why are these changes happening in the bank?
These appontments ae done as the previous governor, Rama Krishna Sithanen, recently said he would resign after Mauritius PM asked him to step down, citing that his position had become untenable. The Second Deputy Governor, Gérard Sanspeur, resigned (or was removed) on 29 August amid a public dispute with the Governor about alleged interference by the Governor’s son in internal bank affairs.
The dispute between the former Governor’s family and the Second Deputy was publicly aired. There were claims of political interference and nepotism (favoring friends or family for jobs) at the bank. The bank has been dealing with internal conflicts and public criticism for months. These kinds of conflicts can undermine the central bank’s credibility, disrupt decision-making, and affect its ability to carry out monetary policy effectively.
To address these issues, the government has stepped in to appoint new leadership. This often happens when there is a loss of confidence in the existing leadership’s ability to maintain stability or work cohesively.
Why It Matters?
The Governor is the head of the central bank and plays a crucial role in managing interest rates, inflation, currency stability, and overall economic policy.
The Second Deputy Governor is also a key leadership figure, often involved in specific portfolios like financial stability, banking regulation, or monetary operations.
So appointing new individuals to these roles is aimed at restoring harmony, re-establishing trust, and ensuring effective governance. These appointments are intended to resolve ongoing internal conflicts that have reportedly affected the functioning of the central bank in recent months.
New leaders are expected to fix the internal problems at the central bank, restore public trust. They are expected to focus on important tasks, like keeping inflation under control and maintaining financial stability. An expert, Manisha Dookhony, said that these new appointments send a positive message and will help bring stability back to the bank.