Seychelles’ ex-president attends human security conference

Posted in International Organisations, International relations at 12:03 pm by Robert Klien

Former President of Seychelles James Mancham is attending the European Centre for Peace Development’s (ECPD) 6th international conference on Human Security Concept Implementation that is held in Croatia.

The opening ceremony was attended by Professor Ivo Josipovic, President of the Republic of Croatia; Ivan Jakovic, President of the Istra region government; John Maresca, rector of the University for Peace established by the United Nations in Costa Rica; and Professor Albert Maes, vice-president of the ECPD Council and chairman of the conference.

Mancham was chosen to deliver an opening address at the conference. In his speech, Mancham highlighted the need for a new world leadership where money is dedicated to peacekeeping. It should be noted that he was recently elected as a member of the council of elders of the Common Market for Eastern and Southern Africa.


Seychelles investment forum held in Brussels

Posted in Business and Economy, Foreign investments at 11:56 am by Robert Klien

The Seychelles International Investment Forum was held in Brussels from October 20 to 22. This event was seen as a milestone in the investment history of Seychelles.

The forum was organised by the Seychelles Investment Bureau (SIB) in close collaboration with various public and private partnerships.

SIB chief executive Sherin Renaud said that this investment forum had been organised at a very high level and with such prominence.

The forum was attended by more than 100 delegates from across Europe. The presence of local investors and agencies with a direct interest in investment provided an effective platform for potential international investors to learn more about business opportunities in the jurisdiction.

According to Renaud, the SIB is planning to host a similar forum in 2011 for the local business community.


Seychelles’ economic recovery goes on. Economy to grow 6%

Posted in Business and Economy, International Organisations at 1:03 pm by Robert Klien

According to the head of the International Monetary Fund’s mission to Seychelles, Jean Le Dem, the juridiction’s economy continues to recover strongly. Its growth is expected to exceed 6% in 2010.

The IMF mission has been in Seychelles since October 15 with a view to hold the discussions for IMF’s Article IV consultation as well as to do the 2nd programme review under a USD 31 million Extended Fund Facility (EFF) approved in December 2009.

Mr Le Dem said that Seychelles has successfully restructured most of its external debt obligations. According to him, “the economy weathered the global economic crisis of 2009 well and has rapidly recovered this year on the back of a rebound in tourism, sizeable foreign direct investment and a widespread pick-up in the domestic economy”. He stated that very tight fiscal policy in 2009 has been relaxed, though “buoyant revenues are expected to contribute to a primary surplus of 9.4% of GDP for 2010, two percentage points above the full-year programme target, providing welcome fiscal space for debt reduction and priority spending”.

The International Monetary Fund has confirmed that the 1st-generation reforms have gone well, so, the 2nd-generation reforms are needed to create a good environment for the private sector

The 3rd review programme is due in March 2011.


Intelligence exchange forum hosted by Seychelles

Posted in International Organisations at 6:02 pm by Robert Klien

The 9th meeting of Eastern and Southern Africa’s Regional Intelligence Liaison Office (Rilo) is hosted by Seychelles.

The jurisdiction joined the organisation in 2009. Rilo has 18 member countries and is part of the World Customs Organisation.

The 3-day forum seeks and shares information related to illegal activities like tax evasion, drug smuggling, using of forged currency and distribution of pornographic materia, as well as intellectual property rights violation.

Seychelles’ Rilo contact Jeanette Delorie said that more information on planned crimes is now being shared between Seychelles and the other member countries and, as a result, more offenders are being arrested. According to her, Rilo works closely with organisations like the National Drugs Enforcement Agency during boarding ships and planes and similar operations.

Other member countries of Rilo are Angola, Botswana, Ethiopia, Kenya, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Rwanda, South Africa, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe.


Seychelles’ economic reforms encourage small countries

Posted in Business and Economy, International relations at 7:27 pm by Robert Klien

Since Seychelles launched its reform programme, the jurisdiction’s economic success has raised the expectations of other small countries to achieve similar results.

This was announced by a Caribbean finance minister during the Small States Forum that was held in Washington DC at the weekend. It was when Danny Faure, Seychelles’ Vice-President, gave a keynote presentation on Seychelles’ progress since the beginning of the reforms in November 2008.

The meeting on October 9 was attended by World Bank president Robert Zoellick. At the event, Faure thanked the international community for its support to Seychelles during the ongoing economic reform. He noted that other governments have shown an interest in Seychelles’ determination, economic programme as well as in the strategy used to tackle the country’s external debt.

According to Harold Lovell, the Finance and Economy Minister from Antigua and Barbuda, “the Seychelles case, where massive macro-economic reforms were undertaken without doing irreparable damage to social gains achieved, gives inspiration to a lot of our fellow small countries.”


Consumer Prices in Seychelles decline in September

Posted in Business and Economy, Seychelles' statistics at 5:00 pm by Robert Klien

In accordance with a report by the National Bureau of Statistics, Seychelles consumer prices continued to decline in September 2010. However, as compared with the previous result, consumer prices index (CPI) declined at the slower pace.

According to the statistics released on October 6, the CPI dropped 1.1% year-on-year in September, which is slower than a 1.5% fall in the previous month. Consumer prices decreased for the 10th consecutive month. However, CPI started easing since April 2009. A year earlier, consumer prices increased 29.3%.

On a monthly basis, CPI was unchanged in September 2010, after rising 0.7% in August.