Seychelles Weekly

IMF: MICHEL PROMISES DEVALUATION WHILE DENYING IT TO VOTERS

Volume 5 . Issue No. 28 . Weekend August 18, 2006

The Ten Pillars of Economic Wisdom

1. Nothing in our material world can come from nowhere, nor can it be free; everything in our economic life has a source, a destination and a cost that must be paid - by someone. ... read more

ALLEGATION OF CORRUPTION IN THE CIVIL SERVICE

A South African lady has filed a case before the Supreme Court asking the Court to set aside the decision of the Minister of Internal Affairs (who is none other than President James Michel) after the Minister refused her appeal to have her deportation from Seychelles revoked. The lady, who is married to a Seychellois and has a Seychellois child, was deported from Seychelles some time back for what appears to be dubious reasons.... read more

NEW GOVERNMENT MINISTERS

James Michel has added three new ministers to his cabinet after his election as President recently. They seem to be in the main, removed from the SPPF political machinery although it is to be expected that they have some kind of political opinion. ... read more

Twenty four years ago this week, on August 17, 1982, the people of Seychelles woke up to learn that overnight a group of soldiers had taken control of the radio station at Union Vale and were making demands of the president of the Republic, Mr René. It was the worse nightmare the population of Mahe had ever lived through.... read more

Is Kenneth Nalletamby making a business out of his past association with DP?

Hotelier-turned- taxi-driver Kenneth Nalletamby, turned up uninvited at the Democratic Party Headquarters on Wednesday supposedly to attend a meeting scheduled for that day. Upon his arrival, he was informed by the Party Leader, Paul Chow, that he had not been invited to attend the meeting and in any case he was not welcome; therefore he will not be allowed to enter the meeting room. ... read more

The news that Mukesh Valabhji had relinquished the Chairmanship of PUC last week was calculated to give President Michel a much needed boost that he is indeed his own man. Unfortunately, Michel’s troubles do not end here. He is now in a position to investigate the fiasco that is the Desalination Plants installed at great cost to the taxpayers in this country. ...read more

WATER SHORTAGE: MUKESH leaves PUC with 25 million US dollars flushed down the drain!

France to increase Lebanon peace force to 2000 while Italy has pledged 3000 troops --- Germany joins U.S. saying Iran reply is not enough --- Blind Chinese activist, Chen Guangcheng, gets 4-years prison term for complaining against forced abortion --- Pluto is no more a Planet, but a dwarf planet, leaving only 8 Planets in our solar system, says the International Astronomical Union --- Flood-ravaged Ethiopia opens dams to prevent bursting after two weeks of heavy rain --- EU sends 400 troops to Congo in attempt to quell raging gun battles between rival political parties --- Indian police say they foiled terror plot by killing a Pakistani and arresting another in the financial capital, Bombay --- Army rebellion in Seychelles swept under the carpet? --- $ 25 million desalination plant is money down the drain --- National Economic Planning Council is same old thing, with same people, a few new faces and a different name ---Seychelles bid to rejoin Sothern African Development Community (SADC), Foreign Minister Patrick Pillay will tell leaders at Maseru, Lesotho, summit despite its US$ 2 million membership arrears with SADC. This latest move contradicts President Michel March 9 statement to Seychelles honorary consuls to concentrate only on Indian Ocean links --- Work starts on rebuilding bridge destroyed by tsunami nearly two years later. Construction is funded by international aid donors --- Latest figures show there are 63,027 mobile subscribers for 82,000 population --- IMF document reveals Michel's intention to devalue the currency after the election --- Seychelles named world's best island destination --- Michel picks foreign-born to serve as ambassadors --- Is the military running the show in Seychelles? ---

Zimbabweans Scramble To Spend Old Notes Before 1000% Devaluation

http://abcnews.go.com/International/wireStory?id=2337213&CMP=OTC-RSSFeeds0312

Tokyo Report: Tuna prices soar on falling supplies

Sir, I have read recently of the sharp prices in Tuna prices amid growing concerns about rapid falls in supplies, given tougher international restrictions on fishing and a series of business closures by financially troubled fishing firms.... read more

VICTORIA’s INFERNAL TRAFFIC JAM

Motorists have been lamenting about the terrible traffic jam that persists in Victoria at peak hours. This is especially pronounced in the morning around 8.00 O’clock, 12.00 noon and at 4.00pm. So far the government has not announced any plan to curtail this annoying problem which continues unabated in town. read more

SOME REALLY GOOD NEWS AT LAST

There are now fresh hopes that maybe Seychelles is now in a position to rid itself of the bad reputation it had amassed over the last two decade amongst investors looking to invest in Seychelles. The lack of democracy was not the only problem in Seychelles, but so too was the declining economy. However, our biggest problem was that vital decisions were being taken by a small group of corrupted individuals very close to former President Rene. ... read more

he Seychelles government has agreed with the IMF that a major devaluation of the rupee must happen soon, according to the IMF Report on Seychelles. But, according to IMF officials it will not happen until after the elections, which they were told would be in September. read more

President Michel’s new economic council has its work cut out

President Michel has appointed a new body to be called the National Economic Planning Council (NEPC), according to a government communiqué published Monday. But the new body, which supersedes two previous bodies also appointed by Mr Michel, has its work cut out by the latest IMF report and its recommendations. ... read more

WORDS OF WISDOM FOR PRESIDENT MICHEL AND HIS NEWLY FORMED ECONOMIC PLANNING COUNCIL

President Michel, as commander in chief of the defence forces under our constitution has elevated Colonel Flo Payet to Brigadier in the Seychelles People’s Defence Forces (SPDF). It appears that Payet will have the accolade of being the only Seychellois so far to have achieved this rank in the military anywhere in the world. Payet is also the Chief of Staff of the SPDF. President Michel, who was the previous Chief of Staff was a mere colonel. .. read more

HOW MANY BRIGADES DOES THE SPDF HAVE?