The finance minister of Mauritius said on Saturday he had been the victim of a political conspiracy after his name was left off the list of candidates to contest a legislative election due on May 5.

The list is now closed, meaning Ramakrishna Sithanen, who is widely credited with ushering in sweeping financial reforms to diversify the island state's almost $10 billion economy, will not be eligible to serve in the next government.

"I have arrived at the conclusion there is a plot within the MSM (Mouvement Socialiste Militant) to eliminate me politically," Sithanen told reporters.

A spokesman for the new Labour Party-led alliance declined to comment on why Sithanen had not been put forward as a candidate.

Led by Prime Minister Navinchandra Ramgoolam, the Labour Party has secured an alliance with the MSM ahead of the May ballot to consolidate its position over the opposition.

"I can't explain why the prime minister who is very strong has accepted to be dictated to by a smaller party," Sithanen said.

Finance minister since 2006, Sithanen has cut red tape, simplified tax rules and watched on as foreign direct investment inflows have surged into Mauritius's tourism, luxury property and technology and communications sectors.

In December 2008, he unveiled a $340 million stimulus package as the global downturn took a stranglehold on Mauritius' open economy, boosting public spending and targeting vulnerable industries, particularly textiles.

Analysts say Mauritius has weathered the financial storm better than expected, with official forecasts pointing to economic growth of 4.6 percent in 2010 against 3.1 percent last year.

They add that the finance minister appears to be the most high-ranking fall guy following negotiations between the Labour Party and MSM.

"Sithanen did not obtain a ticket because this forms part of the political deal," said Chandan Jankee, economics professor at the University of Mauritius.

Analysts say the island's financial markets are in a "wait-and-see mode" and the key question will be whether the economic reforms that started in 2005 will be maintained.

Source: Reuters Africa