The Governor of the Central Bank, Mr. Pierre Laporte, who just returned from an IMF world conference for governors, to streamline central bankers on the world economic financial downturn again, has said on SBC that he does not know where a rumor of devaluation comes from.
Central Bankers 007
Alarmingly this line is a movie script line of Seychelles Seychelles went Bankrupt in October 2008, Mr. Chang Leng was on SBC like Mr. Laporte is today, telling the People of Seychelles devaluation will never happen, it is just a rumor. It seems that we are about to get a rerun of the same film we watched and suffered through not too long ago.
Back To Banking on The Aut De Gamme
Under his lips, Mr. Laporte muffled in his shirt to tell us in Europe there is a economic downturn. He did not mention the riots or the national bankruptcy gripping four key states that can affect the entire European union. But in Seychelles
Aut De Gamme Tourist- But Job Loss Likely
Muffling along in the interview, as if he did not want us to hear him one day after the 16,500 spoilt votes spoil the communist master plan to rule us as if we are chickens on a farm, Mr. laporte seemed to be saying first, IMF will be extending its program in Seychelles and secondly, with the downturn people will lose their jobs, and the cost of living will go up. But he said the Central Bank will battle inflation and not devalue unless it take foreign exchange out of the reserve for one purpose or another. Really?
What Mr. Laporte Did Not Muffle
Mr. Laporte did not muffle about the reduction in revenue for the year 2011 nor did he tell us that our debt repayment starts in 2012, which is one reason why IMF is sending us technical assistance, to squeeze every ounce of foreign exchange it can from our reserves next year, to meet repayment deadlines. When that happens, Mr. Laporte will have to devalue, because he will have to tap into reserves to pay our debts.
Mr. Laporte, perhaps you are new to this game. Take some advise from Mr. Chang Leng on how it is played. Rule number one, do not talk to us like we are on BAKKA just because you work for communists. We will show you are on LAPIRE.
We are watching you carefully.
Time to reduce the credit card bills on restaurants for meals in the name of the People of Seychelles. Pay your own meals or eat at home. The extra weight you gain belongs to you. The fun is over. See you soon.
End.
16 comments:
A devalution is inevitable Laporte,given that Pp has been running deficit bugets for years and the bamkruptcy in 2008 has accentuate the crisis.This is the only action the governemnt can take in this kinds of environment deflate the value of our currency and inflate asset prices.Inflate them to make debts smaller relative to assets.Inflate them to thereby make it easier to pay off debts.If you not to devaluate our currency how are you going to proceed Laporte?Laporte is probably embarrass to publicly say it,he will probably leave the offical announcement to Pp.
Jeanne D'Arc
Look at the good side of things: A devaluation will attract low budget tourists to Seychelles filling its 3 star hotels and guest houses. Low class tourists will also discourage the finer tourists(Khalifa & Co) from spending their holidays in Seychelles and woosh we'll eventually have a booming economy. Then again, we may have to cut our Dubai trips to once a year instead of the usual 3-4.
We have already had a devalution which has resulted in higher unemployment(increase in crimes),higher prices,it has make our people poorer and another devalution will further drag our people in misery.Pp will not be devaluting the currency to attract cheap tourists but becuase it has no choice,It is all the result of mis-amanagement ,corrupts and all those ills that goes with it that got us there.Pp should be instead collect tax from Eden Island,Khalifa,Ramadoss's Casinos,avoid fianacial leakage(five star hotels),reduce charges of small and medium tourist establishments,check and balance(accountability) on SEPEC,IDC,Money Us is paying to stationed their drones here,Fishing contracts etc etc
I agree with you we must cut Dubai flight to one and as i porposed before instead operate a direct weekly flight to Australia for instant,the potential is much bigger and would undoubtly be more beneficial than flying to Dubai or as recently to Falkland island.Fly Air Seychelles where there is potential pocibilities PP not anywhere for the sake of flying somewhere.The company is operating at a lost ,stop implementing these failed strategies Pp?It is time to take the bull by the horn Pp.
Jeanne D'Arc
We should start a few PETITIONS with all the questions that need to be answered regarding our economy (or anything else that matters to Seychellois) and send it to SBC for them to ask Mr. Laporte and others. If they refuse to do so then we should declare them the enemy of the people and ask for their resignations. I am sure we can get more than a thousand signatures amongst those who BOYCOTTED the slapstick election.
We have sent a clear message through the past election, now we have to take new steps to achieve accountability in our society.
IF WE ARE CANNOT VOICE OUR OPINION IN THE HOUSE OF COMMON THEN WE SHOULD USE OTHER MEANS TO HAVE OUR VOICES HEARD.
A FREEDOM LOVING SESELWA!
By the name of Chris :)
Brigitte-
I did not know you were called "Chris".
Nice try.
Seselwa Unite!
Sesel Pou Seselwa!
"Chris" topher Gill
We are bigger than Chris, Brigitte, Jeanne D'Arc. We have waited for so long to voice our discontentment with the regime.
Quietly we are becoming the SILENT MAJORITY and we are growing as fast as the 'CED LO KONBLAZ'. So beware, you who have committed crime against our nation for judgement day is not far ahead.
A FREEDOM LOVING SESELWA.
The idea of a petition is a good one ,is will be a second warning to PP,that the people do not have time to wait listen old wives tale any longer-You will have to rapidly and voluntarily or we will come to change them.Time for rhetorics and lies are over Pp.It is time for real actions and we expect to see those changes rapidly.
Jeanne D'Arc
Seselwa Publication (PTY) LTD.
L'echo des Gill!
Has the Seychelles rupees been devaluated before? If so! When was it announced?
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