NEWS Flash - IMF in Seychelles to Assess Compliance

Submitted by:
Christopher Gill


IMF are in Victoria, Seychelles this week to meet with the Government of Seychelles, and private sector, to assess the progress being made under the IMF Reform program.

Inclusive in assessment, the IMF will recommend to the Paris Club whether Seychelles qualifies for further debt forgiveness under the proposal the Paris Club gave Seychelles in 2009. Under this program, a total of 45% debt forgiveness was proposed into two portions with conditions attached by the Paris Club.

The first portion was 23% write off provided the Government of Seychelles adopted the IMF program and reforms. This was done in 2009. At the time the Nation headlined: "Paris Club Forgives Seychelles 45% Debt". This was another lie SPPF spun to make JJ Spirit team look magical.

This weeks assessment by the IMF will determine if the reforms are under way and being followed by JJ Team. If so, the IMF will recommend to the Paris Club that another 22% of the total 45% of Seychelles debt be forgiven.

While Seychelles has been under IMF Reform, and the macroeconomic environment has been tightening, the corruption in Seychelles has gone on unbridled. To date, no fat cats have been prosecuted for misuse of public funds during their tenure in office. Million remain unaccounted for and Millions hidden in non public audits.

Just the tax not collected on Sheik Khalifa imports would be enough money to settle all of Seychelles commercial debts externally. The amount of BMW's State House has accumulated, would be enough money to replace all the old Tata Bus fleets to get our children to school.