TCHOMBO
Due to the relative small size of their domestic markets, small economies have no alternative but to boost their integration into the global market in order to sustain their economic expansion. To put it bluntly, their very survival is tributary to their degree of openness. However, unless the State, through its institutions and their policies, can instil a reasonable degree of integrity, stability and flexibility into the system, more openness will only translate into an ineffective, if not dramatically polarised, allocation of resources….The Monetary Authority of Singapore (MAS) has sensed that, given the specificities of the economy of Singapore, the most reliable road to tempering rising prices is via a nominal exchange rate target….
Mauritius can either follow the footsteps of the Hong Kong Monetary Authority or can still pioneer another modified currency board with a basket of currencies aligned with our international trade as anchor instead of one single currency to inject a dose of flexibility. [https://tchombo.blogspot.com/2009/12/le-piege-monetaire.html]
Tchombo