International Economics Consulting Ltd’s CEO, Paul Baker, was interviewed for Business Magazine on UK’s leadership challenge and the impact on Mauritius.

The former Foreign Secretary Liz Truss remains the favourite compared to the former Chancellor of the Exchequer Rishi Sunak, in succeeding Boris Johnson as Prime Minister. According to Mr Baker, this leadership challenge has a remarkably small impact on the value of the Pound (compared to the Rupee or the Euro), despite the uncertainties and disruptions. He points out that the value of the Pound, however, has seen some daily volatility (jumping 2-3% on some days).

The rising costs of food, fuel, energy, transport and the effect of the war in Ukraine are already having a severe impact on the domestic market, leading to higher inflation rates. And, these global economic conditions are already having a severe impact on the Pound.

Please find the full article here.