Breaking News

 
The Governor of the Central Bank Seychelles Caroline Abel has 
announced that the Seychelles is experiencing a shortage of supply 
in hard currency and will take steps to redress this in its
monetary policy.
 
There is a shortage of hard currency in the market. Requests
to commercial banks are going un met for as much as 30 days.
 
This affirms the SFP position that the Seychelles Rupee has 
been kept at an artificial level deliberately by the PL policy .
 
The Governor said the Public can expect higher interest rates 
to curb demand for hard currency and a devaluation of the 
Seychelles Rupee in due course to adjust the imbalance 
resulting from poor economic performance.
 
The minister of Finance Pierre Laporte is still waiting
until the end of the 3 rd quarter to assess the situation.
 
END

Comments

  1. In no direct flights to anf from our main market---thus less arrivals means less foreign exchange and our own currency id inflammatory free falls.
    With five star hotels keeping all the revenues abroad-
    -
    -With lots fo GOP,foreigne Ambassadors who partilepep pay in foreign exchange.
    -What will that means ofr Seychelles?---Higher exchange rate,uncertainty in the business world,Black market will re-open their doors,affect economic growth,affect import,etc,,etc You understand now why Laporte could not give us a clue about the state of our economy shorty,He has once aginst brought us in shit though all those millions in foreign loan.Millions in foreign loans which did not foll by real economic reforms.It seems Laporte is going to bankrupt the country once again within five years.

    Jeanne D'Arc

    ReplyDelete
  2. Laporte in waiting to figure out how is going to tell Seychellois He has bankrupt them one more time.Laporte is about to leaving us with an empty pot,He failed to carry out genuine economic reforms take actions against financial leakage,enhance the developemnt of small and medium enterprises thus sustainable development.more productivity,reduce government wastage,corruption,enbezzlement and so on.

    ReplyDelete
  3. Pierre Mon Ami, wake up, the ship you run as Minister of Finance has hit the reef like the Costa Condordia and you are the Captain.
    Are you going to jump ship?
    Are you going to redress the problems?
    Are you going to be the last one off the ship?
    Are you going to be the first one off?
    Its your call Pierre.

    ReplyDelete
  4. I would suggest John of Seychelles Public TV broadcasting on U-TUBE ask for an interview and grill her with questions of WHY did it happen? John, don't just ask simple question? think of follow up question too and don't let her pause to breathe. This is how you are going to grilled somebody and the rest of your interviewers in future. Keep up the good work, I'll give you a B so far and a thumb up to start.

    Rob.

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  5. A further devaluation of National currency will means Seychellois would have to pay more for import good,fuel,and other commodity.Usually a tool use by desperate government with a poor economic policy.

    Under partilepep Seychelles has get trapped in a dismal circle in which high inflation causes the countryhttp://infopoint.ch.swissport.aero/start exports to be u7ncompetitive prompting a Devaluation that would only lead to more inflation.

    Competitiveness is only restored by a decline in real wages(which would mean extreme poverty for majority of Seychellois)This can be achieved by having nominal wages fall while exchange rate is unchanged(Plan A),or by having wages fail to adjust to the inflationary effect of a Devaluation(Plan B).Either way ,we come to a decline standard of ilving.

    Higher Intenrest rates--will mean :Increase the cost of borrowing----(Intrerests rate of laon,Debt will be higher)
    -Increase in mortgage interests---which would have a big impact of cosumers
    -Reduce confidence(costumers and busiensses)
    -

    Now.SHOULD SEYCHELLOIS THIS TIME AROUND,IN ONLY 5 YEARS STAY PASSVIE AND KEEP PARTILEPEP THIEIVES,WHO HAVE PROVEN INCOMPETENT,UNCAPABLE RULING US?sHOULD WE THIS TIME AROUND TAKE TO THE STREETS AND GET THOSE MARONS OUT?

    mICHEL SHOULD DISSOVLE HIS INCOMPETENT GOVERNEMNT AND CALL FOR nEW IMMIDIDATE ELELCTION OR IMMIEDIATELY FORM A coalition GOVERNMENT--Seychellois should not stay at home this time around ,they have made more than enough sacrifies in the last 5 years for fialures they are not responsible for ,and especially because partilepep policies were dicted,unilaterally dicided by a gang of thieves ,foreign loans in millions never accountaed for etc

    PARTILEPEP SHOULD GO WITHOUT CONDITIONS AND THAt IMMEDIATELY.

    Jeanne D'Arc
    -

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  6. Default on the horizon !! ///

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  7. Back to square one.
    Sesel sa!
    We are judging you!
    Pa file kaptenn.
    Zot in bez MODI.
    Malediksyon bann dimoun ki zot inn touye.
    Errrrrr ......sa pa lot ki bann PL minis ki pe tir tou dolar dan pei.
    Zot konan ki zot pou perdi eleksyon an 2016!


    ReplyDelete
  8. Michelle will say it's not only Seychelles but the whole world is collapsing just like he said last time. Shame and very sad indeed! Seychelles deserve better after almost 40 years. Mauritius the sister island is laughing and its people are saying SOLMAN I ANNAN KANTITE GOGOT.

    ReplyDelete
  9. Sentencing Powers abused !!Samia Govinden we will give YOU DEATH penalty for importing heroin on our shore.

    BURN THE PRISON DOWN WHEN YOU DONT GET A FAIR TRAIL:

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  10. They have fundamentally misled the People of Seychelles again.
    They subsidize banks for loans when banks are the biggest profit earners in the country.
    They have told people to buy fridges tvs take trip for shopping to buy gonaz and this is what is causing a shortage of for ex when the economy itself is faulting because PL minister of Finance, Minister of Transport, minister of lands have all taken their eye off the ball, and neglected to remain focused. Their good times will now cause a massive downturn.

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  11. Seychellios professionals are immigrating again en mass and being replaced by Indians n Sri Lankan.Zot Ki pe arive Dan nou pei Seychelles?
    Drugs is out of control and keeps entering the Country? Who are the real drug dealers n importers in this small island?
    Is it possible that the drugs are entering Seychelles through the outter islands by sea and than transfer by air into Mahe? Who controls the outer island?

    ReplyDelete
  12. You totaly right my man.NDEA must keep eyes on Clenny Savy co.
    This sytem have fail their war against drug now that all small escobar are behide bar.it must be some one in the house of crony dealing Govinden its behide it.

    ReplyDelete
  13. 14.27
    You know why aprtielep preaches about fighting illegal drug trafficking etc.. but failed to establish a Naval base on ipone of our Outter <island which would have in fact dter more effectively all these illegal acvtivities from drug trafficking to illegal fishing?Well because a Naval base in the outter island would uncover all partilepep illegal activities in the region.aprtilepep does not want anyone to uncover their illegal activities in the region .But strangely Michel comes on SBC occasionally to tell us how important it is to fight against illegal activities in our EEZ:For patrol more effectively paritlepep could have bought unarmed Drones thus cover more superficy of ouer EEZ,He does not want Drones ,they flight too discretly ,it would detect partilepep activities .

    ReplyDelete
  14. Malediksyon spup i pi!

    ReplyDelete
  15. Seychellois have made painful sacrifies during the last 5 years after aprtilepep bankrupted us.Some of them,are living in extreme poverty and cannot afford to make more sacrifies now that partilepep announces that it has one more time bankrupted us.

    A handful of Hungry Seychellois have them started to printed out their own Notes and that before ?artilepep print out its won billion notes.

    Dr Tirant for the police Dept,is telling Seychellois to be vigilant and to report any counterfeit SR 500 notes they come across to the police.Howvwer,Dr Tirqnt fialed to give Seychellois exmaples of how to detect counterfeit Notes.

    Dr Tirant could have given Seychellois some tips such as:
    -That notes when put under a UV light turn Blue thus it is a sign of a counterfeit note for papers use to fabricate NOTES are special papers made up of a combination of WOOL and LINEN FIBER should not react under UV Light.
    _he could have told them that they are security features such as Watermarks --and when one sees watermarks without putting a light under the note it is a forgery.
    That there are TAGLIO PRINTING that is difficult to reproduce and when you rub your fingers on it .you feel the texture of the ink which is slghtly raised.
    That there are micro -printing that are difficult to be reproduce etc..etc..etc..
    -Magnetic ink
    -judging by feeling
    -Taglio Print
    Flourence Ink
    -Engraving
    -Optical variable Ink
    -Shadow Ink etc..etc..etc. Mr Tirant
    Hence give citizens some tips which could help Seychellois indetify such counterfeit notes.

    On investigation by Polcie.Our police has no starting point at all.
    Counterfeiting notes is done by high precission JEt PRINTERS--hence,by going to Jet printers importors investigators could already have a list of sold printers and to whom which could be a means to trace back unstill the crook who is doing that.Such high quality Jet Printers are expensive thus cannot be afforded by many Seychellois.So Dr Tirant why not go to these handful of printer importers and ask them for a list of names of persons they sold their printers to and go for them?

    there are also instruments avalaibel to detect counterfeit money--suich as Money detector Pen bill maker.
    -Unltraviolet counterfeit detector system and more.

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  16. Michel tells us,Seychelles is a long partner of Kenya.Why odes Michel import chickens from Kenya not far from Sey<chelles instead from Brazil.
    10 kilo CARTON OF CHICKENS COST U$ 21 imported From Brazil.
    The same-10 kilo cartons of chickens from Kenya cost u$10-15.Why import from Brazil partilepep to then kill Seychellois with high price?

    ReplyDelete
  17. I heard St Ange saying"India we coming"while at the same time he recognizes that India though the second biggest Nation is a small market(2500 arrival only from India).The question to St Ange and Morgan is,instead of three flight weekly to a destination which St Ange himself recognizes it is a small market would it not have been more interesting to immediately operate ONE direct from Europe rather than waiting to start operation Sey/Paris at the end of December therefore when Europeans have already planned and booked their holiday elsewhere or are already on holiday ?

    Of course we need to diversify our market ,but we must also recognize that Indians,are known, not to be the best tourists in many European countries and that for variously reasons-------The have been labelled by European tourism Industries as the second worse tourists by a survey made in Europe for these following REASONS:
    -Most impolite
    -Travel with DESI CHIEFS in tow
    -Ate Indian food everywhere and hardly try visiting country's cuisine
    -Cleaniness does not seems to be strong among Indians,living Hotels' rooms in mess
    -Allow complaining and want more than they pay for
    -Spend little etc..etc..etc..

    Many hotels around Europe are refusing Indian tourists for these reasons.Best tourists at the top of the list is JAPAN follow by US National and Swiss in third place.

    Moreover Mr St Agne note that according to UNTWO (World TOURIST RANKING LIST),Seychelles though a beautiful unique Destination,she is not even rank amongst the FIRST TEN BEST DESTINATION IN AFRICA(even Zimbabwe does better than us under sanction---she is placed 6th on the ranking list)which means that we are not doing well-enough and need to do much more than operating three flights weekly to India.And just for your orientation St Ange Here is a list provides by UNTWO 2013 on WHO TRAVEL THE MOST:
    -82.85 PERCENT EUROPEANS
    -21.02 PERCENT ASIENS
    -16.42 PERCENT -AMERICANS
    -3.80 PERCENT MIDDLE EAST
    -2.90 PERCENT AFRICANS

    This ranking by UNTWO seems to speaks for itself and give us an idea we where should concentrate our eford St Ange------note that there are still rich European countries such as SWEDEN,NORWAY.HOLLAND ETC.. that to date we have literally no market in place maybe you should concentrate in developing these markets.And finally St Ange,we rarely see Maerican tourists in Seychelles ,one might think due to the long travel route to reach Africa discourage them to do so.But the fact is Africa countires like Kenya,S.Africa, Tanzania etc.. attract annually dozens of thousands of USA tourists but also Brazilain tourists.

    So Mr St Ange diversify our market of Course.but our aim should to attract those tourists that travel most to Afirca according statistics rather than those pl think might be a potential market but which has proven wrong like India--big population ,but poor,arrival from India--a little more than 20000,even Seychellois travel more.

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  18. When would St Ange then start developing a market in Sweden,Norway rich European countries instead of India where St Ange himself tells us it is a small market(Annaual arrival from India 2000 guests) out of a population over a billion.Why 99 percent of Indains are poor.Prove aprtilepep must create jobs in Seychelles from them .

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  19. At. Ange does look silly in India.

    ReplyDelete

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