Friday, June 8, 2012

IMF Executive Board Approves US$31.1 Million Extended Fund Facility Arrangement for Seychelles, Completes Final Review Under Stand-By Arrangement


Press Release No. 09/472
December 22, 2009
The Executive Board of the International Monetary Fund (IMF) has approved a three-year, SDR 19.8 million (about US$31.1 million) arrangement under the Extended Fund Facility (EFF) for the Seychelles to support the authorities' economic program in 2010-12. The approval makes available a disbursement of SDR 0.88 million (about US$1.38 million).
The Executive Board also completed the third and final review under the Stand-By Arrangement (SBA). The completion of the review enables a disbursement amounting to SDR 2.2 million (about US$3.46 million). The SBA was approved on November 14, 2008 (See Press Release No. 08/282). Subsequent to the completion of the third SBA review, and approval of the EFF, the SBA was cancelled.
The authorities' EFF-supported program aims at putting public finances on a sustainable footing and durably raising growth. The key objectives are to support the public debt restructuring process and reestablish external sustainability; accompany the second generation structural reforms aimed at securing macroeconomic stability and raising growth performance; and put in place a macroeconomic framework to guide policies through 2012.
Following the Executive Board discussion of the Seychelles on December 18, Mr. Takatoshi Kato, Deputy Managing Director and Acting Chair, issued the following statement:
“The Seychelles authorities have made remarkable advances over the last twelve months in addressing long-standing economic problems and establishing macroeconomic stability. Inflation has been near zero and economic recovery is expected to gain traction in 2010. Program implementation has been exemplary, even in the face of headwinds from the global recession, backed by strong ownership and broad public support. Progress has also been made in negotiations with external creditors aimed at achieving a restructuring compatible with Seychelles’ payments capacity.
“The strong fiscal adjustment in 2009 played a key role in stabilizing the economy. Good progress has also been made in strengthening public financial management, including through the introduction of a treasury single account. The 2010 budget represents another major step forward in improving transparency and the performance of the public sector and in launching a major tax reform. The new market-based monetary policy has been instrumental in achieving price stability. The flexible exchange rate regime, which has made an important contribution to stabilization and eased the burden on monetary policy, remains appropriate. In view of the very good progress achieved so far, the focus now shifts to implementation of second generation reforms.
“The new three-year EFF arrangement puts in place a macroeconomic framework to guide policies through 2012 and support the authorities’ medium-term reform agenda. The key objectives are to consolidate macroeconomic stability, remove constraints to growth, and achieve public debt sustainability. Major improvements in public sector governance practices are needed over the medium term to contain fiscal risks, raise productivity, and reduce the size of the state. It will be important to press ahead with efforts to strengthen financial discipline and accountability in the parastatal sector, bolster the financial system, overhaul tax policy and administration, reinforce their debt management capacity, and pursue public external debt restructuring negotiations,” added M. Kato.
Annex
Recent Economic Developments
The global recession and piracy in the Indian Ocean hit Seychelles hard in 2009, but there are now early signs of a revival of business activity and employment creation. Real GDP is projected to contract by 7.5% in 2009, an improvement on the 10.7 percent contraction projected in June, as the reduction in tourism earnings and related construction activity is attenuating. The economic recovery is expected to strengthen, with economic growth rising to 4 percent in 2010. Inflation has been near zero since March and the exchange rate has appreciated from lows early in the year. Official external reserves continue to recover from near depleted levels.
The government has exceeded its fiscal targets this year with a primary surplus of 13.4 percent of GDP in the first nine months of 2009. Expenditure has been tightly controlled and revenue has held up well despite the difficult economic environment. Social assistance outlays have risen during the year, but have remained within budget allocations.
The reform agenda is gaining momentum with the adoption of a new Public Enterprise Monitoring and Control Act by the National Assembly in September; the introduction of a treasury single account; and the audits of the seven largest public enterprises. New Central Bank and Financial Institutions Acts have been put in place, to strengthen the framework for monetary policy and financial sector regulation and development.
Discussions with external creditors aimed at a comprehensive restructuring of Seychelles’ unsustainable public external debt are making good progress. The authorities successfully negotiated a debt restructuring with Paris Club creditors in April 2009 and signed a bilateral rescheduling agreements with Malaysia and South Africa on comparable terms. They have also made good progress in talks with private creditors, and a debt exchange offer to holders of external bond, notes, and certain commercial bank loans was launched on December 7, 2009.
Program Summary
The authorities' program supported by the November 2008 Stand-By Arrangement addressed the foreign exchange distortions, implemented a large fiscal adjustment, and stabilized the macroeconomic environment. The focus has now shifted to responding to the need for a second generation of reforms to transform the economy, secure macroeconomic stability and improve economic performance. The authorities’ program for the three years to 2012 under the Extended Fund Facility includes the following targets: (i) average annual real GDP growth of 4-5 percent; (ii) single digit annual inflation; (iii) foreign exchange reserves equivalent to 2.5 months of import coverage by end-2012; and (iv) maintaining a primary fiscal surpluses of about 4.5-7 percent of GDP in the 2010-12 period.
The program includes reforms that focus on:
• Improving public financial management and transparency and governance standards in the public enterprise sector.
• Placing public finances on a firmly sustainable footing through a major reinforcement of fiscal monitoring and control and improved expenditure efficiency, while affecting a strong rise in public investment, which has been neglected during the recent crisis years. A rationalization of the size of the public sector is underway.
• A fundamental medium-term reform of the tax system was launched with the 2010 budget. The objective is to have a simple, fair, and equitable system, which will promote growth, improve self-compliance, and level the playing field for investors.
• Strengthening of the financial sector. The Central Bank of Seychelles (CBS) will implement its action plan for strengthening supervision, and increase minimum capital requirements. The government will also transfer non-bank supervision to the CBS. Steps will also be taken to consolidate and divest publicly owned financial institutions with a view to attract strategic investors in the banking sector, bring fresh capital and stimulate competition in the banking sector.
• Restructuring public external debt in a manner that is consistent with the medium-term payments capacity. The authorities aim to secure an immediate and sizable cash flow relief in the short- to medium-term and a sustained reduction of the debt service burden. Significant primary fiscal surpluses are targeted through the medium-term to allow a reduction in domestic debt and provide space for private sector growth.
• Other supporting reforms include the promotion of a better business climate, increased flexibility and efficiency in labor laws, pension reform, improved national statistics, and better sectoral policies for air access, tourism, fishing, and the environment.
Seychelles: Selected Economic and Financial Indicators, 2007–12
 
  2007 2008   2009   2010 2011 2012
        Prog Proj.   Projection
 
National income and prices1 (Percentage change, unless otherwise indicated)
Nominal GDP (millions of Seychelles rupees) 6,877 8,756   10,280 10,402   11,057 11,891 12,872
Real GDP 9.7 -0.9   -10.7 -7.6   4.0 5.0 5.0
CPI (annual average) 5.3 37.0   35.1 32.9   2.3 2.5 3.2
CPI (end-of-period) 16.8 63.3   5.4 1.9   2.2 3.0 3.0
GDP deflator average 11.4 28.4   31.4 28.5   2.2 2.4 3.1
                   
Money and credit (Percentage change, unless otherwise indicated)
Net claims on private sector 9.3 58.4   24.3 -12.1   27.3 ... ...
Broad money (M3(p)) 2 -7.6 27.2   5.6 -0.7   25.6 ... ...
Reserve money -23.1 0.6   20.6 32.2   18.4 ... ...
Velocity (GDP/ M3) 1.5 1.5   1.6 1.8   1.5 ... ...
Money multiplier (M3/reserve money) 4.2 5.3   4.7 4.0   4.2 ... ...
Savings-Investment balance (In percent of GDP)
External savings 20.8 44.7   29.7 22.6   32.7 30.1 28.8
Gross national savings 8.0 -12.7   -1.8 6.8   -0.9 2.5 4.7
Of which: government savings -4.4 4.2   1.0 2.8   2.7 5.6 7.8
Gross investment 28.8 32.1   27.9 29.4   31.8 32.6 33.6
Of which: government investment 5.5 2.1   4.3 5.3   6.8 7.4 8.6
Government budget  
Total revenue, excluding grants 32.0 32.8   35.1 35.6   30.7 31.5 31.3
Expenditure and net lending 40.9 39.8   35.6 35.1   32.8 33.4 32.1
Current expenditure 36.3 28.6   34.2 32.8   28.0 25.9 23.5
Capital expenditure and net lending 3 4.6 11.2   0.5 2.3   4.9 7.4 8.6
Overall balance, including grants -8.7 -3.3   0.0 2.8   0.9 0.4 1.4
Primary balance -2.0 3.8   11.4 13.4   7.0 6.0 4.7
Total public debt 4, 5 129.8 135.6   149.7 140.1   109.5
Domestic 65.8 52.3   41.8 41.6   37.4
External 4, 5 63.9 83.3   108.0 98.5   72.2
External sector (In percent of GDP, unless otherwise indicated)
Current account balance including official transfers -20.8 -44.7   -29.7 -22.6   -32.7 -30.1 -28.8
Total stock of arrears (millions of U.S. dollars) 4, 5 160.4 321.7   195.1 239.2   ... ...
Total stock of arrears 15.6 34.9   28.8 31.2   0.0 ... ...
Total external debt outstanding (millions of U.S. dollars) 4, 5 710.2 767.1 732.6 754.7 708.1 … …
(in percent of GDP) 4, 5 69.2 83.3   108.0 98.5   72.2
Terms of trade (= - deterioration) -1.2 0.7   -2.1 -2.1   ... ...
Real effective exchange rate (end-of-period, percent change) 6 -25.4 -18.4 .... 13.0 … … …
 
               
Gross official reserves (end of year, millions of US dollars) 1.0 51   108 153   202 252 302
In months of imports, c.i.f. 0.1 0.6   1.3 1.5   1.9 2.2 2.5
                   
Exchange rate 6                  
Seychelles rupees per US$1 (end of period) 8.0 16.6   ... 10.6   ... ... ...
Seychelles rupees per US$1 (period average) 6.7 9.5   ... 14.1   ... ... ...
                   
 
Sources: Central Bank of Seychelles; Ministry of Finance; and IMF staff estimates and projections.
1 Historic GDP data have been revised upwards in April 2009.
2 In 2007 and earlier, includes domestic currency balances earmarked for pending import requests ("pipeline").
3 In 2010 includes contingency spending of 1.1 percent of GDP
4 Assumes April 2009 Paris Club agreement is implemented; does not include the impact of any further restructuring of public external debt.
5 High inflows of FDI associated with specific projects in 2006 contribute to a high current account balance.
Includes arrears and the external debt of the central bank.
6 Nominal exchange rates shown for 2009 are actual rates as of end-October 2009; REER is change from Dec. 2008 through Sep. 2009


100 comments:

Anonymous said...

IMF report is quite confusing.
:IMF told us infaltion has been brought at almost ZERO in the last six MONTHS-hOW COME !.¨In IMF last report three months back said infltion was at 6 % percent.Waht magic formular did Pp use to achieved that? fOREIGN LOANS AND AID.fOR NATIONAL PRODUCTIVITY IS ALMOST INEXISTANT.IMF told us the BUGET 2012 is a major step forward in imporving TRANSPARENCY.How does a budget does that when there is No transparency and accoutability of how it is used?FACTS-Transaprency is achieve by having monitoring and checks and balances systzem in place,Pp govt.has non of that.IMF says money given to pp autocratic regime is to support macroeconomy,FACTS:the problem is that maocreconomy business owners never see these dollars.IMF says WE MUST REDUCE the seize of the state- FACTS:The butcher has increase it. more ministers than ever.

In a word.IMF seems to deleiberately giving PP a good image that it just does not have.It is not IMF that would tell the suffering poepl of Seychelles that things are better.The facts are though all those praise by IMF,the people are becoming poorer,state is falling part,Tuorsim industry the main source of our revenues has bronken down.Debts keeps increasing mHOW?BY all those debts and the intersts we have to pay back.etc..etc..

Would like Pp to justify those astrnomy results.For facts on the ground prove the contary.

Jeanne D'Arc

Anonymous said...

The IMF is only here to make sure that the foreign debts are settled in other words they could care less about the people as so long as we pay the dues today tomorrow or in future just so as it is paid!

Anonymous said...

DID JEANPAUL ADAM speaking in the namt of Pp regime ,said to the world" we want trade not ai".Why not refuse IMF new loan dog?

Jeanne D'Arc

Anonymous said...

Another 3 year program by IMF because we cannot get our house in order since 2007.- That's what it says!

The next generation of IMF assistance will grind down the average ordinary Seychellois to a pulp.

Thank you PL and thank you to that little group of corrupted people that stole $2.5 Billion from the People of Seychelles.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill
Leader
Seychelles Freedom Party

Anonymous said...

Didn't you help PL when you crossed the floor ?

Anonymous said...

Is it Chris who became multi-million form the peoples' stolen dollars or RAM our once poor little priest who has decided to sleep with the devil?

How much millions and years would the world has to bail out PP one-party state before things get (Not better) ,but Stable?For there is no signs,no indication that it will.For IMF tells us the loan/aid it is giving is to help reduce our astronomic debts created by Pp thugs. but the question to IMF is how does Debt reduce debts?



Jeanne D'Arc

Anonymous said...

Reply to Crossing Floor-

I did what I did to survive in the midst of SPPF trying to kill me without pulling a trigger myself, which I have highlighted well many times and in the midst of facing a leader sell out, who today many have joined him in his parade of selling out Seychellois for self gain.

Today who visits the Queen for FAR and JAM? Is it not JRM?

Correct me if I am wrong.

Today, who hugs a Communist and refers to Simon Gill as "Brother" ? Is it not Ramkalawan?

Today who is the Priest millionaire?

It is not Volcere. But he is not far off either and has admitted for the world, they are all financed by foreign "Sugar Daddies" without remorse.

What kind of opposition is that?

Today- who has sold Seychelles and done more deeds to Foreigners?

Michel?

Boulle?

France Albert Rene?

Georges I and/or Georges II.?

Perhaps it is time to do a little tally of the deeds.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill
Leader
Seychelles Freedom Party

Anonymous said...

Fuck IMF they like to bail out and to get back in return 10 times more but for us even those donkeys will be in the cementry we will send them bill,and pay back their debts.

Anonymous said...

GREECE,SPAIN,PORTUGAL ARE SAYING THEY DONT WANT ANY MORE BAIL OUT FROM IMF SEYCHELLES ALSO HAVE TO STOP TAKING CREDITS THAT THEY CAN NOT EVEN PAY BACK.
ARE PP DEPENDING ON THIS OIL REVENUE TO COME IN TGE BEAR FUTURE?TYPICAL
THEY ARE THINKING MAY BE THEY WILL BE STILL IN POWER TO STEAL SOME MORE,BUT I DONT TINNK SO.

Anonymous said...

Sorry i mean near future.

Anonymous said...

IMF dictation an policy is becoming more and more the prescription to increase poverty and debts of our country.

Here is what usually IMF in as well as World bank dictates to countries they give loans to:1) the prescript cutbacks"liberalization" of economy and resources extraction.
-Role state minimize
-Privatization is encouraged as well as reduce protection og domestic industries.
-Other adjustment policies as well as Devaluation of currency,increase interest rate"flexibility"of the labour market.
-To be interesting for foreign investors many regulations and standard are removed.etc...etc..
The impact of these preconditions have devastating effects of a country.Example,already poor countries must import more in order to raise enough money to pay their debts in a timely manner.
-Value of labor decrease
-capital flow become more volatile
-remove or decrease financial regulations

When IMF donors keep the exchange rate in their favor,in often means that poor countries become poorer.It also help to maintain free trade.etc..etc..e.tc
In a word IMF policy is a spiraling race to the bottom.

Jeanne D'Arc

Anonymous said...

I am new to this blog. Why did Gill cross the floor ?

Anonymous said...

TO enligthen Pp thugs that they needed to change whihc they refused and now they asking tem why did we listen to Chris for if they would have done so we would not be in the mess we are.The mess would have been avoided.

Jeanne D'Arc

Anonymous said...

That's as clear as mud, Jean d'Arc. No wonder people keep asking why Christopher Gill crossed the floor.

Anonymous said...

RAM has crossed the floor about a tthousand times,not to tell Pp to change its way but each time it was for an increase of his salary.Chris wanted to make those monkeys understand that fialure leads to failure and communism has failed,it was time to give the people their country back.PP who concider themselves as semi gods refused all advice.The consequence ,we are now in a mess,with astronomic debts which keeps accumulated,emptied coffer that we must depend of foreign charity.Poverty is sky rocketing thus an automatic increase of crimes.Tuorism industry at free fall.National Airline has stopped bring tourists to Seychelles but reduce to a regional airline to bring arabs to Kilimanjaro,Kenya.etc..etc...and there is no sign that under Pp things would ever change.Thus the need for us to change PP.

I think Pp crooks is expert in put this idiom"clear as mud"into practice:Check it out-JENPA told us he wants TRADE NOT AID while accepting u$32 million more form IMF,why say we donot want JENPA?JENPA wants TRADE but Pp has allowed foreigners to fish and trade our TUNA in our place.St Ange says "We have now a new deal with Air France -a direct fly from Paris via Dubai then Seychelles."In other owrds St Ange consider a direct Flight from MAHE to PRASLIN is one that you make stop at Siloulette before Praslin. Michel is conducting A NATIONAL RECONCILIATION but Nartional reconciliation for Michel is dealing with a fake party and a fake leader for Michel understanding of NATIONAL means Pierre not the PEOPLE to whom he must reconcile with for stealing their liberty in 1977..etc..etc...THAT IS CLEAR MUD PISSY.

Jeanne D'Arc

Anonymous said...

PISSY

You were speaking about fake statistics-Here is another example of fake statistic from PP.Pp and IMF told us that inflation is almost or more or less at ZERO.What does that mean?A rate of ZERO inflation would mean that a single unit of currency could buy as much today as it could the last time that the inflation rate was measured.

How can that be when price of commodities have increased in the last year and salary or purchase power of the people has stagnated?And note that with the recent increased on fuel,water,electricity this year which will come in to effect in JULY things will be much harder and probably another increase of inflation.

Jeanne D'Arc

Anonymous said...

I amNew on this blog is the same guy call pissoff pussy.

Anonymous said...

PSeudo -seychellois RAMADOSS has rightfully and indirectly criticized PP tourism policy.
Money made in the toursim industry does not stay in the country.

In of words.FINANCIAL LEAKAGE.
iT WAS CLEAR FROM THE VERY BEGINNING WITH ALL THOSE fIVE STAR HOTELS THAT IMPORTED ALL THEY NEED FROM WORKERS,FOODS,AND ALL PRE-PAID FULL BOARD ABORAD that our country will lost lots of money in Foreign exchange,as a result since money stay aoroad we donot benefit or have no money to(re)invests or consumption of goods/services in the country.This also affect TAX revenues that should be collected by the goverenment for since all money stay abroad it makes it defficult to know or estimate how much money they should be or should have been paid to the govt. in taxes.

This lot of millions from the tourism industry is a result of PP fail policy and ignorance,and since PP has no clue of how it works and how to deal with it,we are going to continue losing millions from what should be the main source of our national revenue.

What RAMADOSS is saying ,is that PP has failed on all front.With Fianacail leakage in the tuorism and Airseychelles reduced to a regional Airline,without any direct flight from Europe where most toursists come from,we are really heading to our grave.

Jeanne D'Arc

Anonymous said...

Whenever he criticises Parti Lepep, he is a real Seychellois, because only real Seychellois criticise Parti Lepep.

Anonymous said...

The problem is that Alain St Ange keeps insulting our intelligence with half-baked statistics designed to promote himself and massage his ego. These lies do not matter to him, as long as ignorant James Michel keeps swallowing them. Karl St Ange, who resigned from Parti Lepep government on a point of principle, must have been turning non-stop in his grave ever since unprincipled Alain St Ange re-joined SPPF/Parti Lepep.

Incidentally in that photo on Le Seychellois Hebdo Facebook with the Mauritian guy, St Ange looks like someone in his dotage. That's what putting money and self-aggrandisement above principles does to you. He has now earned his place in the Parti Lepep's private and highly secured cemetery for their ministers. Alain St Ange will be claiming his own place there soon and I will not shed a tear. The country is better off without people like him.

Anonymous said...

St Ange has failed even before he got started.St Ange has no master plan thus without a plan,in which we must fervently believe,and on which we must vigorously act there is no over route to success.,Planing St Ange,is bringing the future into the present,so that you can do something about it now.
As the saying goes"he who fails to plan,plan to fail".

ST Ange shoud not continue to waste the time of Bussiness persons in the Tuorism industry,he should present his demision.

Jeanne D'Arc

Anonymous said...

St Ange is scared of Mauritius having a carnival. He has to pay people (like the Notting Hill Carnival) to attend his carnival. I would have thought that a carnival in Mauritius at a different time would be good for Indian Ocean tourism, but very bad for St Ange's ego. Having boasted about Mauritius copying him, he is now crying about copy-cat competition. He is probably scared that the Notting Hill carnival would jump on Virgin Airlines to Mauritius for free. I suspect they would happily do both carnivals, as long as Seychelles keeps paying them to attend.

Mauritius is the most successful tourism destination in the Indian Ocean. It is understandably why they would see the Vanilla Islands project as diverting tourists from them to other less popular and more expensive tourism destinations.

Anonymous said...

In order to accommodate St Ange and to spare his feelings, the Mauritians have renamed their carnival as "Mauritius Shopping Fiesta" complete with Rio carnival dancers.

Meanwhile the Mauritians will grudgingly send a contingent to the Carnival International de Victoria which, incidentally, is being confusingly marketed elsewhere as the Vanilla Islands Carnival with Madagascar and Mauritius being the biggest Vanilla Islands. St Ange will have to pay more to get Rio dancers.

Michel and St Ange can't run Seychelles tourism, yet they now want to run the region's tourism. Their folly will be at the expense of our tourism industry, given that many countries in the region with similar climate and beaches are much cheaper. The only thing that will set us apart is a carnival. Do they expect tourists to fly all the way via UAE for a poxy carnival ?

Anonymous said...

Louis d'Offay is whinging again. He does not understand that this government is good for nothing.

A few years ago, the government agreed with him about appointing a Marketing Director and Louis d'Offay sent them Alain St Ange.

St Ange soon turned SPPF/Parti Lepep and then became the head of STB. D'Offay congratulated him.

After a few years licking Michel's arse, St Ange became a minister and started defending Parti Lepep's incompetent and anti-tourism policies.

According to St Ange, on the night of his ministerial appointment, d'Offay congratulated him and said that Ton Karl would be proud. The rest of us thought that Ton Karl would be spinning in his grave.

D'Offay failed to realise that by the time St Ange became a minister, the government was moving further and further away from whatever was agreed a few years ago with SHTA.

Now d'Offay finds he is back to square one. He is asking for a Marketing Director. Which other traitor is he going to send to STB.

Now he complains that St Ange is both Minister of Tourism and Head of STB. The reality is that while St Ange enjoys the ministerial trappings, he never left the job of CEO STB. He finds it hard to let go and Elsie Grandcourt is now his lap dog.

It is a BIG MESS. But since when did we expect anything different from Parti Lepep.

D'Offay should have expressed misgivings when the SHTA appointee was being moved from the Marketing Director job. He should have spoken loud when that person was being appointed minister. He should have realised that by mid-2012 he would be back to where he was in 2009, with things getting worse.

Anonymous said...

WE STILL DONT TAKE RAMADOSS FOR A SESELWA ROOTS.

Anonymous said...

Ramadoss will always have a finger up your arses at SFP and he won't be checking your prostates...

Anonymous said...

He can has a finger in our arses then we will stick it in your mouth.

Anonymous said...

Stik it dan toutounn Jeanne D'arc!

Anonymous said...

Reply to Things getting worse-

You raise many, many highly valid points.

The problem with Tourism is the politics involved in it.

This is why things are getting worse as you correctly highlight.

The politics comes from a government that is bent on sucking the Tourism industry dry, which it has done successfully.

This strategy must be rethought out, fast.

To add to this quagmire, there is no real strategy, and Alain St. Ange used the Marketing Director post as a stepping stone to a grander post, leaving the post vacant, and the Tourism Industry hanging out like salted fish.

I wish you were correct when you say we are going back to 2009. That was a great year for Tourism.

Try 1968- before the airport opened. That is how it will soon start to feel with the policy of no "direct flights" in place, and the policy of "No Aviation Policy" in place, and the Policy of "No To A Tourism Master Plan" in place.

I am a Seychellois, I will take my country as it comes, and try to change it along the way, what will the buyers of Eden Island apartments and houses do with this catastrophic investment on that fake artificial island do with their massive loss at hand?

Eat their losses, I suppose.

Give Seychelles a bad name, and cause more down turn.

All in all, only the government can be blamed for this, not SHTA or Mr. D'offay, who have tried everything in the books to keep Tourism going, while Government tries as hard as possible to destroy it.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill
Leader
Seychelles Freedom Party

Anonymous said...

Reply to Things getting worse-

You raise many, many highly valid points.

The problem with Tourism is the politics involved in it.

This is why things are getting worse as you correctly highlight.

The politics comes from a government that is bent on sucking the Tourism industry dry, which it has done successfully.

This strategy must be rethought out, fast.

To add to this quagmire, there is no real strategy, and Alain St. Ange used the Marketing Director post as a stepping stone to a grander post, leaving the post vacant, and the Tourism Industry hanging out like salted fish.

I wish you were correct when you say we are going back to 2009. That was a great year for Tourism.

Try 1968- before the airport opened. That is how it will soon start to feel with the policy of no "direct flights" in place, and the policy of "No Aviation Policy" in place, and the Policy of "No To A Tourism Master Plan" in place.

I am a Seychellois, I will take my country as it comes, and try to change it along the way, what will the buyers of Eden Island apartments and houses do with this catastrophic investment on that fake artificial island do with their massive loss at hand?

Eat their losses, I suppose.

Give Seychelles a bad name, and cause more down turn.

All in all, only the government can be blamed for this, not SHTA or Mr. D'offay, who have tried everything in the books to keep Tourism going, while Government tries as hard as possible to destroy it.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill
Leader
Seychelles Freedom Party

Anonymous said...

Gill ok you have a point.

Now I have a point.

What will empty Raffles do?

What will empty Banyan Tree do?

What will empty Four Seasons do?

What will dead Savoy do?

What will dead Shangri-la do?

What will cursed Kempenski do?

Get my point Mr. Gill?

How about failing Fisherman's Cove?

Anonymous said...

All those hotels' anme you put are the same establishement that are helping destroy our tuorism industry.Why?For all those hotels are the ones invovle in FIANACAIL LAUDERING-Money they amde stay abroad and our coutry does not benefit from it.These establishment use the beauty of our land to attract tourists in their hotels but in return our earn nothing from it.Ditot to Eden Island ,a ofreign comapny that benefit from state fianacail help while all its deal are done abroad and again here we do not benefit.

On Mr D'Offay.He is a man with expertise in the ifeld,he has done what he could to help PP idiots to get out of the shit they created ,but as always Pp thugs do not listen to anybody aside PP.

The fact is that Mr D'offay is apprecaite by Business persons in the tuorism industry,even more than failed St Ange.Mr D'Offay has done more than Minister St Ange who does not have even a bad plan in place.Instead he is conpalining about Muaritian intension to alos have a CARNIVAl as if CARNIVAl should be reserved for St Ange and PP.

St Ange must get to the task or he should be sacked.

Jeanne DÂrc

Anonymous said...

correction:All those hotels you named

Anonymous said...

Reply to Jeanne D'Arc

I believe that Mr. Doffay has done his best with a bad government and horrible policies. No one should blame Mr. D'offay for what we face today.

The government is to blame 100%.

St. Ange has joined the government with this argument at hand: "he will give Tourism business a voice" to bring about change.

This is the argument he tests our rational abilities with in a clever way.

I personally believe it is a false argument, because the government of Seychelles is made up of different fiefdoms and each does what he likes with his fiefdom, particularly when you have failing leadership, and each minister, knows too much to be sacked or held accountable by the leadership.

St. Ange know this well. He will play his card of personal survival, which will not correlate with Tourism Industry growth.Scapegoats will be readily sought out from time to time.

Hence, we can expect more of the same failing inertia to carry on as we sink into a quagmire that we never thought we would face.

When Government of Seychelles is ready to listen, I will tell them how to get out of the mess.

But you must be willing to listen, in a genuine manner.Ideas do not come cheap any more.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill
Leader
Seychelles Freedom Party

Anonymous said...

Gill has more sollutions than god. According to him he and only he has sollutions to all of our problems. He must be related to Einstein

Anonymous said...

You think Gill is related to Michel ? Because Michel too thinks he is related to Einstein.

Anonymous said...

Say what you like!

Yes Gill is pretty smart compared to what is around ruining Seychelles.

Seselwa Unite~

Sesel Pou Seselwa-

Christopher Gill
Leader
Seychelles Freedom Party

Anonymous said...

Chris does not have more solutiosn than GOd ,but surely more than PP.Pp doesnot even have solution to problems that should have or already existed solutions.For example,The solution to deal with the free fall of tuorists arrival in having a Direct flight to europe/Seychelles.And any persons unless you a Pp communists agree with that.

PP do not have the solutions because Pp can not identify the problems.You won't find a solution LIke The butcher when you think there is no problem.

Jeanne D'Arc

Anonymous said...

Which Gill is pretty smart ? There seems to be a few around. Is it the one who was hugged by Ramkalawan or the one who was shafted ?

Anonymous said...

I guess it must be the same Gill who brought you here to try and stop the truth from coming out and to spread your nasty rumours trying to discredit the freedom fighters. :)

Which anonymous would like to know more about Gill? :) :) :)

Sorry! I'm joking... He must be the Gill of SFP.

Anonymous said...

Reply to "God"

I must say, I do not believe I have more solutions then God. I am only a man.

This being the case, a man seeks out his own concrete solutions to the problems he faces.To cower and hide in silence, is not a solution for Seychelles. It is the silence and the cowardice of many in the business community, who adopted the policy of saying the least to not be noticed, that got us to the mess we are in.

Business must stand up and mean business. It cannot sit around as if it is a 3eme age, waiting for a handout and a Home Care-er.

Additionally Seychelles is in a mess. It is also a micro state. So this means we can reasonably assess the points and areas that keep us failing.

It is not some sort of outside factor which we have no control over.

Why?

Because we only need 200,000 tourist a year to have a great year.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill
Leader
Seychelles Freedom Party

Anonymous said...

Why can Mauritius attract more than a million tourists every year ?

Anonymous said...

Where is the recording of Volcere at the Electoral Reform Forum that you promised ?

Anonymous said...

Volcere- digital video is compressing.

Heavy.

Be patient.

Where is your donation to buy better equipment?

Anonymous said...

What donation isn't Gill a millionaire?

Don't tell me he's already spent those millions that he borrowed from Barclays?

Anonymous said...

Reply to "Donation" -

If you want Volcere's digital loaded quickly, you should make a donation for better equipment.

Failing that you have to wait.

As for the Barclays loan facility, it is for the expansion of a hotel development, not to process Volcere's digital clip according to your deadline.The project is ongoing, and if you send me an address, I will send you an invitation for the opening so you can critic the work, to help me improve on my next project.

It is a shame that SNPL and dead NDP cannot film there own events.

Pity indeed.

Now, having said that SNPL, I suggest you relax, and check your pension for life. See what it is worth today, now that the Seychelles Rupee has devalued by 43% since 2008, when the economic reforms started.

Let's see, -

Sr. 34,000.00 x43%= net loss in value of pension Sr. 14,620.00.

(Original Pension) Sr. 34,000.00 - (Net Loss) Sr. 14,620.00= (Actual Value of Pension in 2012) 19,380.00.

Not sitting too pretty after selling out the People of Seychelles, huh?

Told you so...but you ran for the Presidency in a three way race.

Really now.

Opps, digital recording just fell down.

What should I do now.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill
Leader
Seychelles Freedom Party

Anonymous said...

Their pension, whether it's devalued or not will still be there long long loooooong after Barclays have taken possesion of your properties for default in repayments!

As for volcere's clip I don't see why you are getting so worked up about, did he ask you to record him?

Conclusion with both above issues:
Why undertake a project if you cannot afford to see them through?
It's like with everything you undertake....failure!

Anonymous said...

P.S.

My address for the invitaion of the opening of the Grand Hotel:

State House Anytime Now
Derriere Lorloz
Victoria
Mahe
Rep. of seychelles

Anonymous said...

It was Jean Paul Isaac who said it would be ready by yesterday. For donations, try Ramadoss. As Gill says, he is funding all political parties.

Anonymous said...

Reply to Donation-

My project expansion is doing just fine.

My business loan with Barlcays, which concerns my business is just fine.

I do not wait for guarantees in life like a long long pension
for life to embark on a project.

I do not seek assurances for the best case senario.

We Gill's have been taught by Peter Gill, to No.1 do what is right, no matter how difficult it may be. No. 2. we have been taught from early days, not to be afraid of risk.

So your coward comments that are meddling in affairs that do not concern you,do not strike our weather monitor one bit.

I only reply to you, with my name, to show the difference between me and you, who hides behind even your own name, and use ANONYMOUS.

I would not be surprise to learn that you know GREN-WI, Beer Bottle, Murbarak the Gorrilla, Fes Grate.

All the same crowd that wants guarantees in life.

The only guarantees under communism is death and taxes, my pathetic SNPL friend.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill
Leader
Seychelles Freedom Party

Anonymous said...

U.S. expands secret intelligence operations in Africa


In addition to Burkina Faso, U.S. surveillance planes have operated periodically out of nearby Mauritania. In Central Africa, the main hub is in Uganda, though there are plans to open a base in South Sudan. In East Africa, U.S. aircraft fly out of bases in Ethi­o­pia, Djibouti, Kenya and the Indian Ocean archipelago of the Seychelles.

http://www.washingtonpost.com/world/national-security/us-expands-secret-intelligence-operations-in-africa/2012/06/13/gJQAHyvAbV_story.html?hpid=z1

Anonymous said...

Zot Green bottle i ankor pe donn Gill kosmar. Stay off the alcohol Bro. I a fer ou pli fou.
Gill Pa ou menm ki ti dir dan enn ou telenova/komedi lo you You Tube ki SFP i annan komputer pli powerful ki sa ki ti amen zonm lo lalinn.Kinn arive ek Zot power Mwan pa en ekspert me mon mon ti kwar video i kapab gann upload vitman. pa dan 48 erd tan. Any way personn pann demann ou video. Ou ti galoper isaac ki ti koz bon labous.

Anonymous said...

Beer Bottle leader- move on, get a job. Look after your family, maintain your villa, wash your car.

Anonymous said...

You peahead

You do not have to be jealous of someone business success maron.Our country need such persons like Chris who are participating in the prudction of real growth though the risks dueto Pp failed economic policy.REAL GDP gorwth is a result of National Porductivity, and REAl National productivity is those being produce by Chris and other hard working Seychellois while PP thgus keep robbing their( contribution (TAXES)to waste in their grandiose live style by sucking Seychellois business people blood dry.

PP should take example from such brave business people who still have the courage to invest their saving though the risks to keep our economy from falling apart while Pp donkeys keep stealing and increasing our astrnomic debts by begging for more debts to world organization.

You better shut up your ass.... and start acounting for all those multi-million you have stolen for our People.YOU would have to account for and pay for all those BIEN MAL ACQUIS you enjoying.

Jeanne D'Arc

Anonymous said...

All Seychellois should continue to invest in Seychelles.

This is the greatest gift we can give our children.

Sesel Pou Seselwa, requires that we invest in Seychelles in good times, and in bad times. It means we must fight to retain our interests as PL communist attempt to sell our patrimony and Collaborators in the opposition attempt to extort foreigners and help the PL Communist achieve a total sell out of Seychelles.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill
Leader
Seychelles Freedom Party

Anonymous said...

All Seychellois should continue to invest in Seychelles.

This is the greatest gift we can give our children.

Sesel Pou Seselwa, requires that we invest in Seychelles in good times, and in bad times. It means we must fight to retain our interests as PL communist attempt to sell our patrimony and Collaborators in the opposition attempt to extort foreigners and help the PL Communist achieve a total sell out of Seychelles.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill
Leader
Seychelles Freedom Party

Anonymous said...

This is very embarrassing. Days after Jean Paul Isaac announced on Facebook that he had a video of Volcere losing his rag, there is still no video. Gill says that his equipment is broken and is looking for aid. We all knew that the wheels have come off Gill's donkey cart, aka Seychelles Freedom Party.

From what I saw on SBC, Volcere was right to pull Afif up and asked him to stop taking liberties with this country's history. There was a coup d'etat on 5th June 1977. Afif should stop ingratiating himself with the coup plotters by calling it something else. It was worth bringing Afif's own little cringeworthy performance at the Electoral Reform Commission to a grinding halt for that reason.

On 5th June 1977, Albert Rene betrayed his own government and together with other murderous plotters like James Michel committed high treason. They should be languishing in prison for their crime, not being feted as "liberators" by cringers like Ibrahim Afif.

On 14th October 1997, Christopher Gill crossed the floor to join Rene's SPPF. After that treacherous act, SPPF held all 25 elected seats in the National Assembly, much like it is today.

Anonymous said...

Donkey-

At least we have a camera, where is yours?

Relax, we are working on it.

Chill out, man you Pathetic SNPL never dish out enough BS.

You can stop, you are no longer in the National Assembly.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill
Leader
Seychelles Freedom Party

Anonymous said...

A broken camera.

Anonymous said...

I am with Ralph Volcere on this. Well done. The only surprise is that Govinden has not charged him with a fictitious offence such as showing contempt for Parti Lepep lackeys.

Anonymous said...

Yes, but don't worry, our camera will get fixed!

Retards!

Anonymous said...

SFP has many members in Australia, we will float the idea and see what the feedback is.

Thank you for your input.

Seselwa Unite!

Sesel Pou Seselwa!

Christopher Gill
Leader
Seychelles Freedom Party

Anonymous said...

Kangaroos.

Anonymous said...

Pissoff we dont care if is kangaroos or torti,kangaroos can move faster than a torti,that's why you still late you are to slow to move like a torti 35 years a members in a fake party opposition, who have never try to move fast enough like a kangaroos to make Seychelles avoid this kaost we have get in today,crimes reising high ,proferty.no jobs,peoples getting poorer,escobars getting more fat,corruption still going on,healthcare are continue degraded,public service buses problem for students to go to university, problem with water,electricity our passport been sold our land, on our lists to much to continue.

Johnny

Anonymous said...

Not that AFIF MUHAAMMED is an exiled Maldvian whose family was toppled and exile here.Under FAR as friend of his ,he was gifted our nationailty,place at the herlm of SBC for years just to ensure PP propagandas keep rolling.He eas then palce a Secratary of Finance a position he still holds while not having any degree in economy not even a certificate in book-keeping.

Afif should shut up his ass...for his %tz June is nothing than a dark day in our country's history when a gang of crooks raped our independence and tunred us into slavery.Afif,Michel;FAR can try hard to justify their criminal act,but the fact is when you used arms to rape the decission of the people which was democracy to forced on them a dictatorship this is not liberation but subjugation and we donot expect the criminals who perpetrated the crimes to be self-judge of their crimes.

YOU WILL FACE JUSTICE FOR YOUE CRIMES monkeys.

Jeanne D'Arc

Anonymous said...

i meant .NOTE

Anonymous said...

Kamera ti kase ler ou ti tir portre Isaac...it couldn't take the strain...

Anonymous said...

PL's SBC has the best cameras, yet they blinded by the light of truth.

:) :) :)

Anonymous said...

Payeye pissoff

Jeanne D'arc

Anonymous said...

Ou le dir mwan sa kodak ki ou bezwen kouver ou la tet avan KLIK.

Anonymous said...

PISSY
I was amazed by tzhe Butcher speech.Some points i picked out.The butcher told us that price on commodities will increase.We know it,we told him.And waht does that mean not reduction of inflation as IMF and PP wants to make us beleive but high inflation is coming.The butcher said,Tuorism arrival has fallen.We told him and know it for his policy predicted that.But waht has the Butcher and St Ange done destroyed our National Airline,stop flying from Europe (Our main tourists provider).So why is the butcher telling us that when he and St Ange refused to operate a weekly direct flight to Europe in order to rverse the falling Tuorists arrival he is preaching about?The butcher said,we cannot depend on others?Why are we still begging the world and living on charity Michel?Answer.Pp fake economy,mis-mamangement,corrutpion,embezzlement,patronage,lack of accountability and transparency and simply that communism economic policy is absolated and have no place in modern economy.

The butcher praised the fact that we are listed first on Africa evelopment index.What does that mean?Comaparing to other countries(non-African)there is nothing to be enthusaitic about it for we (African)are far behind waht other countires would concider and achievement.Why?For comapre for instance,to other ex-colonies who took their independence at almost the same time as Africa.They have achieve a standard of development while Africa is still light years behind.In of word,Afircan evelopemnt index is African definition of devlopment not what other countires would concider as achievement.

Jeanne D?Arc

Anonymous said...

PISSY
In today's Nation
The butcher asked Seychellois to work harder,faster,smarter.Maybe he should start by telling Seychellois where has their 2,5 billion gone;Why we bankrupted,Where is all the money from illegally selling our oil and gas rights.How all those multi-millions from foreigne loans are being used,(accountability and transparency) etc

ANd most importantly maybe Michel and all his ministers and stooges can lead by example by simply reducing their self-gvien astrnomic salary,pensions,bonuses etcc.Note that The French Prsident earn a salry of about +0 thousands Euro only and ministers about 7 thousands.

The butcher spoke about NEQ SEYCHELLES-A new Seychelles cannot ba built by dictation from an old frailing crook but by the new genration of Seychellois.

NAtion ssay The Assembly(one party state assembl<y) has rectified all interantional treaties of HUMAN RIGHT.Well PP Human rights cannot be achieve in a dictatorship.Humand is reciporcal to Democracy monkey.As USA prominent Unionist put it"There is no Human rights to the status of barbarism".

St Ange says AirSeychelles together with Etihad will operate a flight from Italy to Seychelles but as always with transit in DUBAI.In other words Seychelles will never have a direct for there must be a forced transit in DUBAI to force passengers spend their money in Duty free rather tjhasn on our sohres.Donkeys you cannot force people to transit in Dubnai when they simply and solely want to be in Seychelles.They save their money ,some for years in order to visit and spent in here,Khalifa,St Ange ansd Morgan want to force them into trnasit in Dubai to spend their money there.And my question to St Ange and Morgan Air Seychelles holds the maojority share why is it that Etihad that is dictating course of actions and why is it that Airseychelles can just operate a direct flight to Europe -Seychelles monkeys?In any business the majority share holder has more say donkey.

Note also IMF is back faster than usual-probably PP ass in on fire and IMF is the only pond Pp can sit into to cool down its burning ass.

Jeanne D'Arc

Jeanne DÂrc

Anonymous said...

USA prominent Unionist was SAMUEL GOMPERS.

Anonymous said...

WHEN WILL THAT RECORDING OF VOLCERE BE READY?

SA KA-ME-RA PANKOR GANNY REPARE SA?

Anonymous said...

To the one in CAPITAL LETTERS:

There will not be any recordings of Volcere. Not now, not ever!
I have it on good authority that Ralph went to Gill's office, collared him infront of his staff and told him in no uncertain terms that if he so much as post that recording on here he will make him eat his broken camera and break his "dose" and I will not repeat what he said to Izaaq!
Volcere told them that; "zot pe rod liki with thw wrong guy!"
That is why we don't see any recordings!

Anonymous said...

ARE YOU SAYING THAT SFP IS AFRAID OF VOLCERE? IS THAT TRUE?

STUPIDO :) :) :)

Anonymous said...

OLI VIDEO DOKTOR MANOO?

Anonymous said...

Oui! SFP is afraid of Volcere!
He is not Ramkalawan to take it lying down. If they mess with him he will whoop their arse!

Anonymous said...

Volcere has tolm me that if Gill or Isaac messes with him "i pou bez kalot zot dan piblik"!

Anonymous said...

That will work out great.

Volcere slaps Gill

Volcere gets arrested & charged

Volcere taken to court to answer the charges

Gill calls for the public to go down to the courthouse to protest against Volcere's arrest and charges.

Jean Paul Isaac stands outside courthouse with broken camera.

Seychelles Reality gets very busy with supports for the boycott.

Ambassador Tall writes to human rights organisation condemning the arrest and "false charges" on Volcere for falsely slapping Gill.

Anonymous said...

What stooges say and when they say what they say is always in an attempt to divert attention of their own mistakes and scums.They have been contaminated by Michel the Butcher.

Anonymous said...

6.21 PM

Volcere needs PP babysitter to clean his own arsehole and you think he can whoop the arses of others?Moreover,Where is he hiding ?Maybe he should come out and face the public,there are lots of questions awating for in regards to his real person.

Jeanne D'Arc

Anonymous said...

Of all the politicians here in Seychelles DP and NDP politicians are those that are most corrupt and easily bought. Just look into the backgrounds of Volcere and Paul Chow. It is well known that weekly will not criticise some people because they pay Volcere to keep quiet. He is also used by politicians including PL to smear their colleagues . A case of dog eat dog. This is why SNP has written him off.

Anonymous said...

Often such persons ended up being victim of their own foolishness and it is just a matter of time that Volcere experience it.

Jeanne D'Arc

Anonymous said...

Keep going...

Anonymous said...

I have enough on Christopher Gill to humiliate him and drive him out of the country. If he persists I will publish the dossiers so that all Seychellois will see that he is the biggest con-man on these Islands.

Anonymous said...

Seychellois have been hearing lies fro the last fourty years and have become immuned.

Jeanne D'>Arc

Anonymous said...

Who care if you publish or not rat race.

Anonymous said...

Chris cares

Anonymous said...

CHRIS WOULD NOT BE THE FIRST PERSON YOU DESTROYED FOR TELLING THE TRUTH. I AM SURE HE WONT BE THE LAST ONE SEEING HOW DETERMINED YOU ARE TO HOLD-ON TO POWER TO SAVE YOUR OWN SKIN.

STUPIDO :) :) :)

Anonymous said...

Anonymous Jeanne D'>arc; SO THEY LIED FOR 40 YEARS?

THE PRIESTS SHOULD BE BUSY IN THE "KONFESYONNAL"
As long you SINS ban per i fer zot job!

Anonymous said...

They lied,murdered,robbed etc...The stooge who used to dress in priest robe to fake should face justice and be jailed for his collaboration with Pp criminals-.

Jeanne D'Arc

Anonymous said...

It’s going to be finish of mine day, but before ending I am reading this fantastic paragraph to improve my experience.


Feel free to surf to my blog earn with surveys

Anonymous said...

You have noted very interesting details ! ps nice
web site . "Mediocrity knows nothing higher than itself, but talent instantly recognizes genius." by Conan Doyle.


My weblog; Help for recovering twitter account

Anonymous said...

I have not checked in here for some time since I thought it was getting boring, but the last few posts are great quality so I guess I'll add you back to my daily bloglist. You deserve it friend :)

Also visit my web site :: linkbucks

Anonymous said...

My family members all the time say that I am killing my time here
at web, except I know I am getting familiarity all the time by reading thes pleasant articles.


My web page :: Free Youtube Commenter Tool

Anonymous said...

Incredible story there. What occurred after? Thanks!


My blog post Wallhack

Anonymous said...

Hiya very nice site!! Guy .. Excellent .. Amazing .

. I will bookmark your web site and take the feeds additionally?
I'm happy to search out a lot of useful information here in the put up, we'd like work out extra
strategies in this regard, thank you for sharing. .
. . . .

my web site virtualdj

Anonymous said...

Hello it's me, I am also visiting this site on a regular basis, this site is really good and the visitors are genuinely sharing fastidious thoughts.

Also visit my web-site cheat for castle ville

Anonymous said...

Do you have a spam problem on this blog; I also am a blogger, and I was wanting to
know your situation; we have developed some nice methods
and we are looking to swap strategies with others,
why not shoot me an e-mail if interested.

my website - social marketing