Second Financial Tsunami Gathering To Hit Seychelles

The bad decisions of PL led by James Michel, brought on the dubious title of "Most Indebted Country in The World", and further bankrupted Seychelles in 2007.

We have been paying the price for PL James Michel failures ever since and will be paying into the future, long after James Michel and Albert Rene are gone.

Now, a second wave of financial tsunami is gathering to break on the Seychelles shores. The Seychellis who survived the 2007 Michel Tsunami must be prepared for the second wave. Here is the evidence of the Financial-Tsunami build up.

The Dismal 2% GDP Year on Year
Year on year, the PL cannot seem to do better than 2% GDP. This is in spite of increases on Tourism visitor arrivals. More Tourist arrive officially, but they spend less nights, and less money in Seychelles. Without growth at 6%-8%, according to IMF, we cannot repay our debts and maintain a reserve of Three (3) months imports, $400 million.

Middle East Hub System Has Spoke Us Out of Top Players
James Michel listened too much to the CEO's of the Middle East carriers, as they explained to him the hub and spoke system Emirates, Qatar and Etihad use to herd travelers around the world. Most of the travelers to these hubs are workers, on working trip. Well heeled potential visitors will opt for a direct flight, rather than get caught up in the madness of hub and spoke and 20 hour layover in a dessert destination. They have been spooked!

Without direct flights, revenues will continue to contract nationally.



World Trade Organization Membership
Seychelles under Michel is seeking membership to WTO. This will destroy farmers of chickens indefinitely. It will destroy the pork producers and fishermen. All markets will be open for all member states and citizens, companies, to participate in the Seychelles economy, without the ability of the government to implement protectionist measures to protect Seychellois business. A micro state country with a mere 88,000 population base, has no business joining WTO. It will destroy the identity of your people and destoy economic opprtunities in their own country.

Too Many Airlines Pull Out in 12 Months
Too many airlines have pulled out in the past 12 months for the financial situation of Seychelles to remain healthy. Blue Panorama, gone with Two (2) flights a week, 500 seats off the ticker per week.

Transaero with Two (2) flights a week servicing Moscow-Seychelles, gone . 500 seats off the ticker per week.

Qatar Airways gone. Daily flights or 700 seats plus per week.

Ethiopian Airlines and Sri Lankan Airlines (Mihn Lanka Airways) are operating, but their seat occupancy is dubious and Ethiopian Airlines can pull out anytime. No marketing has been done to effectively position Ethiopian Airlines into the Seychelles seat arrival grid.

This week alone, Emirates has announced in May, 2014, it will cut Seven (7) flights a week to Seychelles or 550 odd seats a week will be lost. This is hit to the jugular of the Seychelles Tourism Industry.

All along, we have no direct flights from our main markets, except one flight per week with Condor, which is full. They do not want to add a second flight, because landing fees are unfair. Providing evasive access from our main markets through UAE has proven to be suicidal.  

Air access is the bottle neck to the smooth flowing of the Tourism Industry, it always has been. It is a "no brainer". Without sufficient daily flights into Seychelles, hotel rooms will remain empty. Staff will be placed on 20 hour weeks and pay will be cut. At night, lights will go out and resort will look dead towns. In spite of this looming risk, Michel administration separates portfolio for Transportation and Tourism as separate moons.

OECD Slams Seychelles Offshore, Sanctions May Follow
Oecd has slammed the Seychelles non compliant offshore sctor exposed by SFP for the last Twelve (12) months. Seychelles has been seen as a soft offshore jurisdiction, where money laundering practice can be shielded from authorities and OECD member states. Until today, not one offshore administrator has been brought to trial for misuse of offshore companies. We have even posted their photos on the internet, provided their work address in Victoria, Seychelles.

SFP has exposed $17 Billion in money laundering that originated with Seychelles base companies. Hardly anything has been done. Collapse of the Seychelles offshore sector, is imminent, and it will take 20 years to rebuild. Blame PL, there is no one else to blame. OECD should keep pressure on PL, until it starts to act responsibly.

No Human Rights Report For Over 20 Years
Seychelles remains under SANCTION for not filing any Human Rights Country Report with the UN Human Rights Organization. Minister Jean Paul Adam, says there is no funding for the report. Where did the money go Mr Adam? We have money for pensions for ex ministers, ex opposition, ex everthing, but we have no money for a Human Rights Country Report (UNHR)? Do you expect people to take you seriously when most of your ministers are redecorating their offices, adding new drapes, new panels, new chairs, new cars, when what they had was just fine? You have the money. You are just spending it on frivolous things, as usual, since it is not your money.

Slavery and Human Trafficking Will Hurt Seychelles
The United States Human Rights Report, has placed Seychelles on Tier Two (2) warning to come compliant on human sex trafficking. Minister Morgan has denied all allegations in the report, sadly. Now Seychelles can expect in 2014 to go under SANCTION, and consequently, lose financial assistance from USA and OECD and bank loans from companies that are registered in those jurisdiction. I bet Minister Morgan did not know that this is the consequence on non compliance.

It is not a debate session Minister Morgan.

Only this week, a South African high end escort explained to a court how she earned Rand 15 Million doing tricks in Seychelles for well heeled Arab clients. This vivid exposure of Seychelles and sex trafficking will not earn Michel's economy many points. Four Seasons Seychelles and Kempenski Hotels should be shut down in our juridiction.

WTO Plus Permanent Residency
The lethal combination of WTO membership and issuing of permanent residency status to foreigners, in Seychelles will leave Seychellois sweeping the streets of Mahe for a living. The flood gates will open, yet, PL still cannot supply citizens with adequate water supply.

As the Tsunami gathers, remember, the lower the tide, the bigger the wave.

Seselwa Unite!

Sesel Pou Seselwa!

May God Bless All Freedom Loving Seychellois!     

 

Comments

  1. Then mr politicians get pp out of power before more seycgellios have their fingers stuck in their asch.

    ReplyDelete
  2. Politicians in Seychelles can not stand up to free their peoples from corruption and oppressor.

    ReplyDelete
  3. Those politicians are feeling their pockets tHEY will come to see you 6 MonThs before the election with their poban dimyl pou pas obor ou la lev. If you r leekey u will get some feiy tol ek enpe klou. If u look langet they throw u a microvave. if you r lazarlang u will get enpe ciman. if you are hardcore u get all the above.
    And the bad thing is all the pti trezor will need to pay to consequences of PL faults.

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  4. It seems all conditions are in palce for a seond round of bankrupcy though Laporte is struggling to prevent second collapse of our economy.Pp illiterate should take the advice of SFP leadership has been painfully right about the downward spiral of our economy and fianacial collapse, since 2008 when Michel took office.
    It was clear for those with a brain that Michel/Faure economic policies were unsustainable.No serious economic reforms were understaken,no serious law past to deal iwth bankruption.

    There are two factors that are propelling Seychelles to a second round of brink:--vastly increase borrowing and over spending as will as inflation.PP instead of changing the politics that baankruped us,they instead added massive borrowing as part of the same failed policy.Bo law to deal with massive corruption in governemnt minsters etc....No accoutability for loans given by World Bank and IMF.tHEN TO PAY THEIR MESS pp Pp keeps sucking the blood of Lcoal businesses with all kinds of imaginary taxs,while failing to lead by examlpe for insrtance by cancelling their self-given life pension,etc...

    Moreveor,Pp has too long favored big foreign companies and thought it those big companies that would make a samll isalnd state economy vibrant.No PP,small and medim businesses is the key to the success of a small island state economy.

    Finally,I is right to say that PP Moral bankrupcy leads to economic Decadance .

    Mismanagement,corruption, over spending and undridled debts are a prescrition for an economic disaster.Our society cannot rise to properity without a sound Interllectual and moral foundation.

    Degage Pp!

    Jeanne D'Arc

    ReplyDelete
  5. Partilepep of the verge of bankruping Seychelles in a short 40 years only.A world record that Michel would deserve be named for the nobel prize of economy.It eem The central bank already facing technical bankrupted as liabilities far outstrips its asset and literally cannot meet its obligations.Massive and uncontrolled governemnt spending will do the rest.

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  6. Brigitta Vicktor had said on her album,politicians are talking a language we don't understand-At times.Don't where to begin or to end the lies and promises.What is very important in this lyrics.I believe that the future is our to guide and to protect to live for and to die for.Say it clear to your mother land.

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  7. It will be another 'first' for Seychelles - first country to be bankrupt twice in so many years! First President to receive a noble prize for this kind of achievement! Not only the country is bankrupt but sold land, stock and barrel to the Arabs.

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  8. 6.01
    Brigitte is right.They donot only speak language we donot understand but it seem they donot understand themslves too.If Pp thugs cannot even understand themsleves,how could you expect them to understand their thoughts.

    Jeanne D'Arc

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  9. PP regime do not have an open view debates with independent journalists.
    They pick their own people to ask a prepared answer of a question.
    This is why they keep lying everyday to cover the lied of yesterday and yesteryear.
    Communication skills can make a big difference in whether people tell you the truth or not.Knowing when to ask the next question,the bevaviors that signal when the whole story isn't being told and what questions to ask can help you cut deception and lying so you can have confidence in your communications.
    This is why he keep raising both hands up while he talk,this could be dangerous misel because it leaves your mid-section unprotected!

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  10. It no different from North Korea,Zimbabwe.In arab countires. In a owrd,in dictatorship.

    In a democratic society a President would answer question to National Media but also independent press.Any minister and the President want travel offical visits on their return they would hold press conferent, not in Pp dictatorship.Faure,Meriton,and the rests traveled aborad for wahtever reasons when the come the hide thmeslves and avoid the press.

    Michel has a progarmm call En MOMAN avek Preziden--------The questiopn is who is EN MOMAN AVEK preziden?well.ONEZIM alone.Does Onezim represents the mass?No.The programm should in fact be called ONEZIM avek PREZIDAN.

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  11. Faure seems to be surfering from the same symtom as Michel.As our economy struggle,still living on foreign loan and âid,Faure tells us our economy is on track.Why still depending on foreign aid and loan FAURE.Why we have paid back all our debts Faure?Why still taking money from IMF Faure?Why taking money in the form of chairiy from Indinas, CHinese,Arabs and son FAURE?Why salary of employees has not increase in four decades Faure?Why our reserve is almost empty Faure?Why we donot have even an ounce of Gold in our reserve Faure?

    For seychellois living on charity,begging the world,is not economic performance but failures of partilepep.

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  12. Faure pussy you bankrupt our country and it will be repeated under stupido like you.

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  13. Faure was not born in Seychelle how on earth he will be the next President.
    He came from Tanzania or kenya when he was small.
    Wake up people of Seychelles.Get on your feet means getting off your butt.

    ReplyDelete

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