Staff
teams from the European Commission (EC), European Central Bank (ECB),
and International Monetary Fund (IMF) visited Dublin during
October 16–25, 2012 for the eighth review of the government’s economic
programme and also met with a variety of stakeholder groups.
Policy implementation remains steadfast despite the challenging
external environment, helping Ireland to start to regain market access.
It is expected that fiscal targets for 2012 will be met despite
expenditure overruns in some areas, and the authorities are committed to
the 2013 deficit ceiling of 7.5 percent of GDP. Banks
remain well-capitalised and downsizing has progressed well, yet further
efforts are needed to address their profitability and asset quality
challenges. In line with the euro area summit conclusions of 29
June, EC/ECB/IMF teams continued to discuss with the authorities
possible technical solutions to improve the sustainability of the
well-performing adjustment programme.
Ireland's gradual
economic recovery has continued, but largely due to weaker net exports,
real GDP growth has slowed to a projected rate of ½ percent in 2012.
Domestic demand and employment continue to decline owing to ongoing
household balance sheet repair, the weak labour market, and low lending
to households and SMEs. Prospects for growth in 2013 are for modest pick
up to just over 1 percent as domestic demand declines moderately,
although weak trading partner growth may continue to dampen net exports
despite Irish competitiveness gains.
However,
unemployment remains unacceptably high, especially among the youth,
making job creation and growth a key priority. Accordingly, plans are
progressing to utilise resources from the European Investment Bank, the
National Pension Reserve Fund, and private investors to finance job-rich
projects in several sectors. The Action Plan for Jobs will contribute
to employment generation through a wide range of measures. It is also
important to ensure that job seekers are well prepared to fill positions
when they become available by strengthening employment and training
services through vigorous implementation of the Pathways to Work
initiative. Engagement with the long-term unemployed should be a
priority, including through timely and well designed involvement of the
private sector in providing employment services.
It
is expected that fiscal targets for 2012 will be met. Revenues remain
ahead of profile in the first three quarters of 2012, which, together
with expenditure restraint in several areas, has offset expenditure
overruns in the health sector, and also on social welfare owing to
higher unemployment. The authorities are alert to the health sector
overruns and are determined to meet the programme target for a budget
deficit below 7.5 percent of GDP in 2013. The measures adopted in Budget
2013 should be durable, as growth-friendly as possible, and minimise
the burden of adjustment on the most vulnerable.
The
authorities are ramping up reforms to restore the health of the Irish
financial sector so that it can help support economic recovery.
Intensified efforts are required to deal decisively with mortgage
arrears and further reduce bank operating costs. Parliament is currently
considering an ambitious reform of the personal insolvency framework. For
this essential reform to succeed, a careful balance should be struck
that addresses borrower’s financial distress and protects the family
home, while also reinforcing debt service discipline. An orderly phasing
out of the costly Eligible Liability Guarantee Scheme would improve
bank profitability and thereby support lending capacity.
Market
conditions for Irish bonds are much improved, bringing benchmark 8-year
yields below 5 percent, underpinned by Ireland's robust policy
implementation under its EU-IMF supported programme. Significant yield
declines also reflect the euro area leaders' statement on June 29 and
the ECB's announcement of Outright Monetary Transactions in early
September. Ireland has started to regain market access, including
through government bond issues. This achievement, despite Ireland's
still rising public debt, underlines investor confidence in Ireland’s
capacity to implement adjustment policies as well as market expectations
of European support for Ireland. Nonetheless, significant risks remain
along the path back to full reliance on market funding, requiring
continued determined policy efforts by the Irish authorities.
The
key objectives of Ireland’s EU-IMF supported programme are to address
financial sector weaknesses and put Ireland’s economy on the path of
sustainable growth, sound finances and job creation, while protecting
the poor and most vulnerable. The programme includes loans from the
European Union and EU member states amounting to €45 billion and a
€22.5 billion Extended Fund Facility with the IMF. Conclusion of this
review would make available a disbursement of €0.9 billion by the IMF
and €0.8 billion by the EFSM/EFSF, with EU member states expected to
disburse a further €0.5 billion through bilateral loans. The next review
mission is scheduled for January 2013.
35 comments:
JPI, you are loosing it. I started reading this latest posting and gave up after the first para.... Start coming up with concrete plans to train Seselwa in order that we can be masters in our own land. When we have a solid plan and vision, it will not matter what happens in Ireland. Our gripe is simple, Seselwa are not getting a just reward when compared to a foreigner doing the same job. This should stop soon and hard working Seselwa should thrive and be masters in Sesel.
SFP Supporter
THe article send a message to Pp,namely that creating Job is crucial in getting an ecomonic recovery,for job creation means putting more money in the hands of ordinary seychellois,thus purchase power that is a motor to create economic growth.That there is a need for the ruling part to tight its belt on govt.spending ,stop spending money that we do not have,instead use the money in foreign loans to boost and stimulate the sectors on which our economy mainly depend namely -Our Tourism industry and fishing industry as well as supporting small and medium indsutries which is the sector outside tourism and fishing that creates more jobs.
The lesson we should learn from the Irish eford though still fagile ,is that discipled ,well-planned refroms should take place and foreign loans should have a real direct effect on the poepl lives to bring confidence thus revive the economy.
Faking economic statistics,fabricating false economic numbers like PP and IMF is presenting to us,is not the going to get us out of pp created mess,extending one year more lifesupport for pp failed economic policy won't make a different as long as the same failed proven economic policy conducted by Pp is not reverse.
The govt.priority should be reviving our tourism industry by enusreing direct flgiht to europe our main market not wasting money in St Kitts nor wasting tax payers money to transport Michel around Africa to prmote himself as Peacemaker in the Indain ocean region when there is not WAR in the region,The money should be used for boosting our economy instead.
Jeanne D'Arc
Piss signing under Sfp supporter like me for you to critize Jp sick person you are we all know there are only one sick person that come on this blog and nothing to debate, i told you to read your holy book you that you can bring out those devils out of your arss sycopath your dirty tatic will not work with us like your boycott have not work.
Sfp supporter johnny
Johnny
Calm down,I think the 10.55 am post make an important point,we need to have a concrete plan on how to get our country back of track.
All Seychellois ,with the exception of Pp thugs seem to know waht must be done to revive our economy namely get our tourism indsutry bakc on track and to do that Direct lfights between Europe and Seychelles are an important factor.
We would have to accept,wether we like it or not that,all -inclusive and package tourism (massive ,too big five star hotels)while it vreates profit for the hotels they do not create profit for the country's economic.There must be a real policy to stop building those massive all-inclusive establishment and sponsor,promote small and medium establishment.By promoting small and medium establishment,jobs will be created,less exapts cheap workers coming on our shores to compete with Sychellois for jobs ,but alos small establishment purchase their good,and other services from our local indsutries etc..No money leakage...etc...
Seychelles govt.must recognize it mistakes that five star hotels are not best for Seychelles.
Jeanne D'Arc
Jeanne D'Arc
That waht best
Sorry johnny!
Heh! Heh! Those big “all inclusive hotels” are squeezing Gill’s balls and he is finding it hard to compete!
It’ll all about your hotel Gill isn’t it? Air Seychelles’ direct flights, St. Ange as Tourism Minister, Ethiad airlines etc. all to the benefit of the working class Seychellois and less profits for the likes of Gill.
Every single one of your blogs are panic stations concerning your business.
Wamkalawan is right. You don’t care about Seychelles. You have nothing in common with us even though you come on here pretending to be one of us.
Wolf in sheep’s clothing!
And here I was about to be an SFP supporter from Australia...?...Tasmania...errr...Timbak...where am I?
...where the fuck am I...?
By the way ti Johnny-Le-Gay. Bous langhet-liki-lakarlen-labwazangtan-sept-ti-kwiyer-disan-leker-baba-taba-liki-ou-manmanm ek mwan!!!
I don't need to come here as a shagged-up-frizless-troufes-las-kaka-dilo-cruise-ship-exhaust-pipe-lanis-pe-file pti pilon like you!
I am who I am
Pissedoff le Rouge!
Pissedoff, you do not have to resort to such language, especially on a holy day like Sunday for Christians or indeed on Fridays for Muslims like our new brother HRH Sheikh Khalifa. People who find it hard to express themselves, usually resort to physical or verbal conflict. Can I humbly request you to debate in a dignified, professional manner. I will indeed count on you co- operation as I know you can debate hard and you can be articulate too.
SFP Supporter
12.36 Am
Five star hotels donot bring a cent to our economic but profit to those five star hotel owners.All-inclusive and package they offer are destroying our economic throught fianacial leakage,cheap labour(not becuase we donot have a lack of Seychellois work force for in reality hotel industries are where more unskilled workers are employed)Destory other local industries directly related to the otuirsm industry such as taxis,carehires,boatcharters,local restaurants,etc...
It is not economically health for a samll island state depending on tourism.Small and medium tourism establishment is was Seychelles should develop and the govt should support those Small and medium tourism industries by investing the foreign loans Pp are now wasting good money in building sky crappers with shiny windows (but inside without furnitures in order to fool IMF and show it how successful its aid is being used).
We are not panic but concern of Seychellois businesses beinf affected by Pp irresponsible policies that are favoring foreign industries by destroying local ones.after all Pissedoff,a govt. should be caring for its people well-faire and prosperity beofre all and not that of foreign benefitors just using our land ,its beauty to achieve thier own personal benefit objective while leaving peanuts for Seychellois economy.
The fact is,Pp govt should by now had asked those foreign five star hotels to pay their due,and stop favoring them by give them tax free,duty free,allow the importation of cheap labour not only taking seychellois jobs but directly promoting immigration to our land,with devastating consequences on the long term in regards to our security,soveriegnty, peace etc...
Jeanne D'Arc
SFp Suppoter 9.27Am
Pissedoff,does not have the ability to debate ,when he is blocked ,embarrasing by questions and cannot defend his masters' failed polices as astrocies he start speaking trash and use barnyard language.He has perfected the art of mudslinging and mudrolling.Every time criticism gets under his skin,he goes ballistic.boombastic,and hyperbolic.He has become a source of perverse ammusement for some of his friends like RAM.His insults are just signs of frustration donot take it personally.
Jeanne D'Arc
In response to "Big Hotel" 12.36 AM.
Your argument only partly justifies. Even Gill may have a personal interest in smaller guest houses, direct flights etc.. but surely this will be more beneficial to our compatriots in the long run. Ideally more money should remain in the country instead, as it is currently, most of the money are repatriated abroad. So what, if Gill is spear heading the effort?
This picture with Seychelles muslim celebrating not all are Seselwa muslim some are foreigne workers muslim and immigrant aret pran nou pou kouyon S.Nation when you we will learn to write the true.
Lots of Pakistani potential terrorists,and other Asians,even Iman seem to be foreigner a risk of seeing Seychellois muslim radicalize by foreigner Iman.
"Iam who I am" - 12.58 AM
You appear to have been very smart at school.
Can you advise us which school that was??
Above all, who was your teacher??
We are sure that your contributions are invaluable to the development of our country.
Big Hotels cannot be in anyway beneficial for the country today,tomorrow or on the long run.Though a few five star hotels are necessary to satisfied a few rich, however as long as those big hotels keep importing cheap labour,import their goods from abroad,do not pay their duties,taxes ,but most important offer ALL-_INCLUSIVE(that is all cost pay abroad and not a cent is spend here) they can never be a relevent benefite for our country.
The only chance of having something out of these Hotels is by having the govt. to make those hotels start employing more Seychellois ,purchasing many of their now imported products(including fish,vegetable)locally,by allowing for instant,Seychellois boat charter,taxis,etc.. to operate such services that are now offer in their package.
We most also point out that in the first place,if we in this shit situation is becuase of Pp govt. who did not see the danger but were more busy concentrating on the POT DE VIN they were being given to sell out the industry.
To it is also the problem of sustainable development-Sustain development means producing enough for our people today and without compromising the ability of future generations to meet their own needs.Without the wild illegal sell out of our patrimony,big five star hotels illegally blokcing Seychellois access to thier property ,should we donot stop PP irresponsible policies there would be nothing left for future generation;They would third class citizens slaved by Arabs and other foreigners.
The best tourism development for a small island state is developing small and medium tourism establishment.For small and medium establishment depend not on importation for their goods and produces,but on other local businesses(farmer,taxi,fishermen etc..)to purchase or obtain their goods and produces thus product jobs to the people.It makes lots of people benefit from the industry directly and indirectly.
We can not allow foreigners all-inclusive over built hotels ,involve in financail leakage destroy our main industry for their self-interests.Dito ,to the problem of expat workers ,they are the main importers of cheap labours to our shores creating discontentment in the population,stress of water ,electricity usage,housing,wastage,cultural ,ethnic,social and economic problems. a risk for peace,security and a danger for our sovereignty.
Jeanne D'Arc
If Ram care about Seychelles and Seselwa he should help to stop Pakistani or Asian terorists immigrate coming on our shore remember ban politicien Seychelles we depend on tourist beware of Terorist Michel have brought on our shore its a matter of time when they will strike.
Jean-Paul Isaac sends PL and co colaborators to the bin with their empowerment bulshit, am watching a moment with president and all i can see is an undereducated man that cannot tell his lies to all that is why don't he do his shit in english pou bannla konnen?
October 28, 2012 2:20 PM
You want to know abouty my school?
Mikrobkaka Elemetary School
Praslin
My Teacher was known as Ti Johnny-Le-Gay
My Headmaster was mari Ou manman.
Any more questions Sir?
PL i anvoy Jean Paul Isaac ferfout!
Enn ti liki parey li ek son ta faux diplom made in China dan son briefcase Bakailokan en boug ki zanmen inn deza al La Sinn ki pe apran Neuro Surgery on line pa pou determinen kwa ki bon pou le pep Seselwa!
Bez al etidye e ganny ou en diplom avan ou vinn dir Presidan napa ledikasyon kan ou mem ou ou bez pli kouyon ki en sat pleinn!
En MoMAN AvEk Le Boucher-talking trash.It was again his usual monolog showing a beast completely disconnected to reality and cannot handle the mess he had created.it was his opportunity for him to share his idea on his witchcraft policies that had banrupted and emprovish our nation.
Is the butcher in touch with his people as he proclaimed to be?One would have to answer this question in the affirmative.The whole idea of a police state is to make sure thze dictator stays in very close touch with the average citizen.The butcher stays in close touch with the average citizen using foreign secret police and mercenaries.
While foregners are served on silver platers,Seychellois applying for business license in close touch with the ruling thuggish system.
In all,it was the smae riduculous trash and crap.There are enough Seychellois with idealism,creativity,knowledge,technical ability, and genuis to transform this country from dictatorship to a vibrant democratic nation,they do not need the fake guiding hands or misguided idea of false communist ideologue of a bygone era.
The butcher again showed that he does not have the thinking ability beyond his mud wall of illusion.The Butcher each time come to tell us things are getting better,while facts show that things are worse today as the previous year and it has wrosen today and would be worse tommorrow,Thus the need for IMF to extense its livesupport for PP,and could not even give a figure fof the state of our economy in 2012 for things have turned for bad to worse.With the say failed policy that PP refused to change though it a fialure,we should not expect things to get better under this illiterate govt.and money amount of loand,aid seem to be enough to ever get us out of this shit Pp has created for PP does not know how to make money legally and by doing good business but only how to steal and slend without counting and then simply go around the owrld and beg for more aids.
Why St Ange did not sell this donkey to the >Ethopian delegations of visit to our shores?it is still a cheap means of transport for many empoverished people in the horn of Africa.
Jeanne D'Arc
Must be in close touch with the ruling party
Oo PISSEDOFF
The butcher said also that he and his arab firends are going to disfaced the natural beauty of La Digue flora to introduce his ugly wind turbines which are higher than coccnut tress and noisy and ineffective and would destroy further the naural beauty of Seychelles necessary to promote our tourism industry.The butcher seem to have chosen Whd turbines simply becuase his arab firends are giving it for free ,ignoring there impact of the environemnt,their efficacity, and the tourism industry.
LA DIGUE population especailly those in thwe tourism industry should not let the Butcher come to destroy the intact and beatiful land like he is doing on Mahe-
Seychelles does not have winds all years round and wind turbines do not and cannot be operated at all time,only under certain wind conditions.Seychelles has 365 days of sunshine annually--Soalr panels of individual houses should be the ogvt. priority not those ugly useless and destrcutive wind turbines that just do not fit for our environemnt and our tourism industry.
Stop the butcher illusion now.
Say no to La Digue destruction by this donkey.For that is not sustainable developemnt but pure destruction.Stop the butcher and apologists Now!
jeanne D?Arc
He will make us come before 2016 this butcher.
My darling ti Johnny, don't come before 2016...keep it going baby...RAM it home honey...as FAR as you can...you promised to love me lonnnnnng time......make me come before 2016 but you come later sugar baby love...
I'm almost Pissing...oh yeah!
Assembley want to know why a small place like Seychelles 25% peoples have cancer!Because to much Seselwa are alcohol addict, not only somking give cancer alcohol to and this sytem was never prepair to handel it also our healthcare is fuck up peoples who have money can go abroad those who dont have,have will tied.Now with Metsy la rue as health minister next year cancer patients will be 40%.
Sfp supporter Johnny
Yep! SFP is a cancer on sociaty. I hope Mitsy can come up with a preventative measure to eradicate it. Failing that we'll burn it out!
Oops! Meant "e" not "a"
Metsy la rue can come with preventative to stop her son fer dan fes avek arabs.SFP will stay acancer until we get reed of this brutal regime who butcher his peoples in 1977.
OURS WILL SOON COME!
http://cryptome.org/2012-info/greek-bank-list/greek-bank-list.htm
I can just visualize the names:
J. Michel (Salaries)
W. Ramkalawan (1 Million Freedom Radio Money)
C. Gill (RS 3 Million)
JP Isaac (Overdraft)
T. J. L. Gay (Arse Cash)
I can just visualize the names:
J. Michel (Salaries)
W. Ramkalawan (1 Million Freedom Radio Money)
C. Gill (RS 3 Million)
JP Isaac (Overdraft)
T. J. L. Gay (Arse Cash)
Please read on
http://www.presstv.ir/detail/2012/10/29/269376/us-military-planned-mutiny-on-the-bounty/
BREAKING NEWS!
MR GAPPY'S OFFICE HAVE ANNOUNCED THAT FOLLOWING AN INVESTIGATION INTO UNDEMOCRATIC BEHAVIOURS WITHIN THE SFP OFFICES CONSIDERATION IS BEING MADE TO REVOKE THEIR LICENSE AS A POLITICAL PARTY!
Source: ~Grapevine~
WISHFUL THINKING!
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