A parable of success

NewAfrican Magazine - Wed, 01 October 2014

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President James Michel of the Seychelles is not a gambler. But when it mattered most, he took one of the most daring political gambles in his life, ignoring warnings from his closest political aides and friends.... ...more

Fitch Affirms Seychelles at 'B'; Outlook Positive

Reuters - Fri, 14 February 2014

LONDON, February 14 (Fitch) Fitch Ratings has affirmed Seychelles' Long-term foreign currency Issuer Default Rating (IDR) at 'B' and Long-term local currency IDR at 'B+'. The Outlooks are Positive. The issue rating on Seychelles' unsecured foreign currency bond has also been affirmed at 'B'. ...more

Encyclopedia of Earth - Seychelles

The Encyclopedia of Earth - Thu, 13 February 2014

The African nation of Seychelles is an archipelago nation of ninety thousand people on over a hundred islands in the Indian Ocean, northeast of Madagascar, The exact number of islands is uncertain. The couintries constitution states 155, while other sources count 115 or 116. About 42 are "granitic islands", that is composed of granite, and about 75 coralline islands. ...more

Seychelles Marks Five Years of Successful Economic Transition

IMF Survey Magazine - Fri, 20 December 2013

With yesterday’s approval of the final review of its IMF-backed economic reform program, Seychelles marks a major milestone in its transition from a crisis-ridden, interventionist economy to one that is more stable and private sector led. ...more

Seychelles sees GDP growth up, debt reduction on track - Tue, 10 December 2013

VICTORIA (Reuters) - A recovery in tourism will help the Seychelles' economy grow by a faster-than-expected 3.5 percent this year, then accelerate to 4 percent by 2015, the country's finance minister said on Tuesday. The tourism sector, the country's economic mainstay, has been battling to fill hotel beds during the global economic slowdown. Long known as a playground for royals and tycoons, the Indian Ocean archipelago has been turning to Asia in search of new business. ...more

Seychelles sees GDP growth up, debt reduction on track - budget

Reuters - Tue, 10 December 2013

Dec 10 (Reuters) - The economy of Seychelles will grow by a faster-than-expected 3.5 percent this year before accelerating to 4 percent in 2015, the country's finance minister said on Tuesday. The Indian Ocean archipelago's public debt will fall to 69 percent of gross domestic product by the end of 2013, leaving it on track to meet its long-term debt objectives, Finance Minister Pierre Laporte said in his 2014 budget presentation. ...more

Seychelles businesses to benefit from EUR 5m European Investment Bank funding - Fri, 24 August 2012

The European Investment Bank today formally agreed to provide EUR 5m to the Development Bank of the Seychelles to increase funding available for small and medium sized businesses in the country. The loan from Europe’s long-term lending institution will be matched by the same amount from the Development Bank of the Seychelles. The long-term funding agreement was signed in Victoria by European Investment Bank President Werner Hoyer and Minister for Finance, Trade and Investment Pierre Laporte. ...more

UPDATE 1-Seychelles names cbank governor as finance minister

Reuters - Wed, 07 March 2012

(Reuters) - Seychelles' president on Wednesday appointed the Indian Ocean archipelago's central bank governor, Pierre Laporte, to the position of the country's finance minister replacing Danny Faure during a cabinet reshuffle. Laporte, who has previously worked at the International Monetary Fund (IMF), takes the helm at the finance ministry in a country that depends heavily on tourism, which accounts for 25.5 percent of gross domestic product, and its fishing industry. ...more

African island states need greater support says Seychelles President James Michel

TradeMark Southern Africa - Tue, 27 July 2010

Seychelles President James Michel called for regional blocs, such as COMESA and SADC, as well as institutions such as the Preferential Trade Area Bank, to give greater consideration to African island states for development projects and financing initiatives. President James Michel addressed the 26th Board of Governors meeting of the Preferential Trade Area meeting in Seychelles at the Constance Ephelia Resort late last week. ...more