The Seychelles Column - By Christopher Gill

Air Seychelles Seeks Bail Out

Air Seychelles has gone to its major shareholder, the Government of Seychelles in search of SCR 30 Million to bail the company out of projected budgetary shortfall for 2009. The move would be normal in normal times, but today, the main shareholder, Government of Seychelles is bankrupt itself and under IMF Administration. Air Seychelles cannot get an overdraft without a guarantor signing off.

The Seychelles Government itself is currently maintaining an unsustainable debt portfolio. It has sought IMF Administration and signed a second IMF Standby Arrangement for US$ 34 Million which will last for another 3 years. Successive IMF Administration Standby Arrangements are very likely for a number of years, if not decades. The World Bank recently assisted Government of Seychelles with a US$ 9 Million loan assistance program, the repayment of which will take 25 years.

Air Seychelles for its part, secured three additional planes this year while the world went into a deep recession and air travel dropped to all time lows over -20% as the European industrial output dropped by -15.75% this year.

As Europe’s recession deepens, trips to long haul destinations such as the Seychelles will be curtailed. Hence as we have seen much of this year, the planes Air Seychelles acquired on lease are now parked most of the time in the permanent parking zone of the Seychelles International Airport.

What airline company in the world today can afford to lease planes and park them for a year, without placing them into a proper business plan of operation? How can any CEO or Chairman of any airline company justify this type of fat riddled business program?

21 Century Business Models

Business today is about maximizing our resources and putting them in play. As a business gets maximum output from its assets, it spreads its cost base and becomes more profitable. These planes need to be up in the air, flying with passengers.

But Colonel David Savy has told us that: “Air Seychelles flies planes, it does not book hotels or do marketing for Seychelles”. This statement demonstrates the closed state of mind of a pilot who thinks his job is to take a plane to the air, then land it, and whether or not he has passengers is not his problem. This is why Air Seychelles is asking the bankrupt Government of Seychelles to foot a SCR 30 Million bill for basically, an overdraft. This is bad business practice, unless you are a moderate Communist.

What is The Money For?

The money is not for new planes. It is not for parts to keep the old Boeing 767-200 safe. It is not for marketing to put passengers on board and keep the passenger loads above 75%. The money is to be used to:

1. Reconfigure and redesign a business class seating arrangement. This is when business travellers are travelling now at an all time low, causing airline companies like British Airways that rely on that market segment for its profits to suffer a 240 Million Pound Sterling loss this year. Unprecedented in recent history.

Without regard for market forces and market indicators, Colonel Savy loves to spend money on refurbishments. Remember the renovation of the new office in Victoria? Well, according to Marie Lise Potter, Leader of Government Business, he wants to refurbish that office again. But tourists do not come from Victoria, they come from abroad. If we are short of them here, we should be spending extra money we cannot afford to spend in places that will increase the passenger load capacity for Air Seychelles. But Government asks no questions and baby Colonel Savy moves along. Even the Board of Directors of Air Seychelles is made up of members of Colonel Savy family. They will not question him.

Remember the US$ 1Million spent on the water fountains and bamboo wall paper for the VIP Lounge at the Seychelles International Airport? Air Seychelles never recovered this money. It was wasted. Pearl Class is regularly full of free fare passengers from Government, leaving little room for real paying passengers. These are the seats that are supposed to bring in the profits. Instead, they bring in the fat cats from shopping trips overseas, to refuel on nice little luxury items that please their hearts. Most of them pass through the VIP lounge anyhow!

2. The money is also to be used for completing a building at the Cargo Terminal that Colonel Savy is supposed to use as his office in the future and terminate a lease from his wife’s family in town. Why does not Air Seychelles get one of those low interest loans from one of the commercial banks in Seychelles to complete the remaining SCR 20 Million of construction works? A steel prefabricated building would have been a third the cost and look 100% better with a little glass finishing. The building would have been up and finished in half the time as well, if the plans were done right.

The reason why Air Seychelles has not gone to the banks has been expressed by Colonel Savy himself. I only repeat it. The banks want Air Seychelles to have the Government of Seychelles guarantee the loan (overdraft) and the company needs someone to vouch for its credit worthiness in performing on a Euro 3 Million loan.

Colonel Savy says to us that the Government of Seychelles cannot take any loans as it is a requirement of the IMF that they must have loans approved by IMF before proceeding.

Hence, the Parti Le Pep (P.P.) Government weasels around this condition, and drafts an appropriation bill, in the form of a supplementary budget for SCR 230 Million, and gives Air Seychelles SCR 30 Million to meet its overdraft requirements. Wise communist business style indeed!

What Is Wrong With Pierre Laporte’ Advice?

Why does Pierre Laporte tell us to go get loans from the banks to stimulate the economy and Air Seychelles does not do the same? Mr. Pierre Laporte has said that the interest rates at the banks are favourable. However, they may not be for long since we are now in the peaks and valleys of macro finance on a day to day basis.

The Seychelles Rupee gained 70% on the US Dollar in 2009. This is such an amazing feat that Bloomberg and Reuters are now comparing the Seychelles Rupee to the US Dollar regularly, and also to the Brazilian-Real and Mexican-Peso. But they also know our credit rating is SD (Selective Default) and that our economy collapsed last year. They are poking fun at Pierre Laporte and his funny rates. They just do not mention his name. But we do.

How To Save Air Seychelles

The best way to save Air Seychelles, with the resources we have as a country, is to tap into the no nonsense human resources we have in business and get them on the Board and shake it up.

How can Air Seychelles do without advice from real sensible business people like Mr. Alan Mason, Mr. Marc Houareau, Mr. Radley Weber, Mr. Freddy Karkaria, Mr. Louis D’Offay, Mr. Guy Savy of Bird Island who once operated a small domestic airline, and perhaps some other DMC operators that can help keep the seats full?

The airline business is not some mysterious business or more complicated than running a Tata bus line, except the engineering is aerospace not automotive. That is done mainly overseas. But the business thinking, the ideas, that make things happen for us all, come from the brain, not from the family bloodline.

This is the fundamental error Albert Rene and James Michel made when they argued against Mancham building the international airport. Simply put, Mancham was visionary while the other two were busy coming up with communist ideas and taking over the country by force.

Mancham did not put his family in place to run the show at the airport. He put the best man. People of Seychelles must learn this lesson, for it is the cause of our downfall, year after year. Today Air Seychelles borrows from a bankrupt government to keep afloat. This for me is shameful and inexcusable, even if it is “entre nous”. Air Seychelles should never have faced bankruptcy or even a shortage of cash with a product like Seychelles as its prime destination.

Be Prepared For Worse

With Etihad Airlines from Abu Dhabi coming, there will be greater market share loss for Emirates on this route. Emirates had been building its share against Air Seychelles loss. Although Air Seychelles has battled, Etihad is now taking on Emirates. They smell a weakening competitor. With their oil reserve cash, they are buying new planes from manufacturers and have the money to finance worldwide expansion in 3 years.

Michel’s Promises Will Finish Air Seychelles

Meanwhile, President Michel is asking so much from these people in UAE in the form of favours, and giving land for one rupee in return. But Air Seychelles will be wiped out not by my little article, or the little cartoon another Seychellois did, nor by the commentary by Volcere in Weekly, or Ramkalawan in the National Assembly, nor by the demoralized Air Seychelles staff.

Air Seychelles will be wiped out as we know it because in the good years, Colonel Savy made money and did not invest it right. He invested in lounges, changed the decor, and the money was spent badly. Now he borrows to buy a US$ 3.4 Million Twin Otter when our outer islands are under pirate threat and when the load factor to Praslin is at an all time low and flight frequency has been reduced.

I will confirm the real price in a follow up article. My “Cousin” works in the factory, another exile Seychellois, this one building planes for Seychelles. Air Seychelles will be wiped out because in the bad years, Colonel Savy did what he did in the good years: squander resources.

Michel will allow Air Seychelles to lose market share in exchange for some crazy “Don Quixote” windmills that will never work in Seychelles, a little renovation at the hospital which our own Government should have funded had we planned and budgeted properly instead of doling out Social Security money to win elections or build District Administration buildings that are never used or create prawn and orchid farms that cost us millions of dollars that we did not have. Desalination plants were just the cream on top of the already bankrupt cake.

Is Air Seychelles Bankrupt

Whether Air Seychelles is bankrupt or not is irrelevant. If it is, it is only sad for us all. If it is not, it will be soon under this kind of infantile leadership. Remember the other two supposedly smart Savy brothers also bankrupted IDC and STB as well, so it is only a matter of time. But take heart my friends. Those employees at Air Seychelles must not think that they will be out of a job. They will not. You will have jobs. Read the next section.

New Opportunities

The Airport will still have to function, and a professional ground crew operations company hopefully not managed by Savy will still have to hire you in that sector. Those engineers that have trained and under the constraints we operate under will also find employment in aerospace engineering in Seychelles. Planes will still come to our country. In fact, we may have more than ever, instead of less if we turn over the management of tourism and the airport to professionals. Cabin crew will have options to work with other airlines and the mistreatment will stop as will the complaints. Your pay will increase as countless cabin crew on Emirates Airlines from Seychelles have demonstrated.

Remember, at one point we had British Airways and Air France flying Boeing 747s twice a week to Seychelles, and other airlines such as Air India, South African Airways, Aeroflot, Alitalia and more.

Most airlines literally took off never to return because Albert Rene promised them that they could repatriate their earnings in foreign exchange and of course this never happened. So the key is in marketing the Seychelles destination like Alain St. Ange is doing so that we can get more major airlines to fly into Seychelles.

More airlines will mean more tourists to Seychelles because airlines do not just fly planes, they also market destinations. This is what Colonel Savy misunderstands as his role in the larger equation, as per his profound revealing statement. More tourists mean more jobs for ground crew, hotels, excursion companies, restaurants and so forth. Time to put the Savy legacy behind us once and for all.

Time To Retrain Skills

If you do not want to be based elsewhere, this is the time to stop complaining and retrain your skills. But get moving fast. In this economic downturn you can expect the worse. If you do not retrain your skills, do not blame Colonel Savy for that. Blame yourself. The downturn will last for many years, unlike Party Le Pep (P.P.) would have you believe. It is over and things will get better. Do not get caught in P.P.’s trap. And let Michel promote Savy to a Brigadier in his armed forces if he wants.

Downturn Will Last Many Years. Is Air Seychelles Ready?

“Entre Nous”, in USA it is expected to last 7 years. In Europe, with burst in manufacturing bubble (-15.75%), high Euro (Euro 1.00 = US$ 1.50), lack of reorganization of financial system, it will last even longer. So you can imagine what we are in for in Seychelles, with a bankrupt government, an IMF plan, a population on drugs between 9800-18000 according to CARE.

P.P. will revamp the tax system according to World Bank and IMF instructions. They will drop business tax from 40% to 20%. While this is good, it won’t be enough to generate new business, create employment let alone create enough wealth for our country. Mauritius business tax base is 15%. We must do better to compete, if not, we play catch up and lose as usual.

Without new businesses to generate enough taxes to run the country, the Government will continue to tax the same businesses and the tourism industry to death. As we are taxed to death, naturally, we will die.

What is needed in Seychelles is a program to jump start new investments with the corresponding productive capacity building of the Country to be increased in order to generate a minimum of 10% growth per annum. This is a great challenge that will require a change even in the political system to be achieved, let alone our social and economic priorities. This is the real battle field we must face.

This will allow us to pay down debts in reasonable time. P.P. does not have an answer for this in 2009 let alone 2010. So do not be fooled by optimists that believe their time on earth is shrouded in an inherent right to succeed in this economic atmosphere. We are in for a real down turn in 2010 and beyond.

It is true some market segments will do better like those that provide essential goods for living at better prices than the Ramadoss milk and juice factory, or STC for rice, etc.... but that is not a growth sector that creates wealth. It is only a survival sector. This will not create new jobs. In fact the poorly structured businesses will fail, because their model for growth is outdated and belongs to the Rene-Michel communist one party state era.

As this sector becomes the only viable sector, more and more people will join it and it will become more competitive. Large companies built on the communist model of business will of course fail. Do not hold your breath to think this will not happen. It is already happening around us. Reminds one of the NYS failure!

Hotel Industry Needs You Badly

Today, our hotel industry has at least 500 slots available for guest hostesses, front desk assistants, managers, and so forth. Your experience in dealing with passengers is a 100% boost to you getting a job. With that experience and corresponding dedication to the industry, your pay will be increased as well. With you in the industry, we will not have Filipinos or Mauritians greeting our tourists when they arrive at our hotel resorts.

A New Beginning For Us

All is not lost. Think of it as a new beginning. In life, we all have new beginnings. As Christians, the power of renewal in our hearts and minds keeps us fresh as we face the struggles of life and the great challenges the evils of Communism and cronyism bring into our lives.

Finally, at Air Seychelles, remember well, the Berlin Wall fell to the ground 20 years ago. The dominos have all come tumbling down. According to the East Germans, no domino should be spared in this human experiment of failure. They must all come down, just like the NYS and SMB failures came crashing down. If you do believe a domino will be spared, then you still believe in the tooth fairy!

When the domino falls, do not blame us who expressed opinions over the domino and exposed the truth. We were not the CEO or Chairman and we are not on those Boards either. Be brave and blame yourselves, blame the moderate communists. Because all of us who speak the truth and expose the evil in our country pay for our flights from our own pockets and do not fly Air Seychelles for free. And we do not send our furniture and private goods via free Air Seychelles cargo either.

May God Bless Seychelles and All Freedom Loving Seychellois! Christopher Gill

Seychelles Comedy - State House Anytime Now

State House Anytime Now (SHAN) - Grand Prix Dreaming in Abu Dhabi - very far away from Seychelles.

Mr. Seychelles President is in his office dreaming about the recent Formula One Grand Prix in Abu Dhabi. It was a great racing day, $55,000 per ticket, seated next to one of the most powerful men in the region and Ferrari race cars zooming through the complex. The smell of high octane fuel came back to his mind, and then his thoughts of the fantastic weekend in Abu Dhabi came to an abrupt end with a knock on the door….

Jenpa: “Good morning Mr. President. I hope that you are well rested after your Yas Marina Grand Prix vacation in Abu Dhabi”.

Mr. President: Yes JP, that was five-star treatment at its best and I am still dreaming about the Abu Dhabi Grand Prix.

JP, this was the Grand Prix of all Grand Prix! It was fantastic...scholastic.... incredible. I sat down next to the richest people in the world. We had cakes, pastries, dates, tea, caviar, champagne but no pork sausages. I felt like a success. Everyone wore Rolex Presidential or Diamond Rolexes under their sheets and gowns. I wore mine too and placed the Casio watch in my luggage for use when I got back home to visit some poor suffering Seychellois living off half the money he lived off last year, and paying twice the price for everything in the shops.

No one called me that naughty word “Communist”. No one called me a “Traitor” or an “Albert Rene lackey”. No one asked me if I had bankrupted my country. Most of them thought I was rich, free of baggage like them all. I told them I had an oil quadrant for sale. Impressive, indeed it was JP. One man walked up to me and asked me if I would finance a new Grand Prix racing team, since Honda and Toyota have pulled out. I was so shocked that I was in the middle of such a group that I did not know what to say.

Jenpa: Well, you could have said, “No, not today Speed Racer. My country is currently bankrupt and under pirate attack, but I can give you an option on an oil drilling quadrant in the deep ocean worth hundreds of million of dollars. What do you think?”

Mr. President: Yes I could also say, no, I only finance wind mills that are funded from your highnesses consolidated fund. Or I could say no, I am waiting for my meal ticket from IMF in order that I can keep on travelling. For you see, I cannot afford to be here, my people are broke, they are suffering, they use one tin can of tuna fish for a dinner of 6 people, and mix it up with a little papaya on the side that nature provides, and they use one match to light a wood fire as they cannot afford gas or electricity any more. Last year, I created a law to supplement their income and clean up the environment by actually making them collect pet plastic bottles. Now people fight for these bottles and rummage through rubbish bins in town to make ends meet.

I am here on invitation my friend, 5-star hotel and meals all paid for.

Jenpa: But Mr. President, that would be too honest.

Mr. President: Yes JP, I should have been honest with this man now that I think about it. But I am not sure if I have a conscience any more.

Jenpa: Why Mr. President, what did you really say to the man Sir?

Mr. President: Well, I did not want to embarrass myself JP. So I said “Yes, of course, I will buy a racing team”. I immediately thought about where I would get the money from. I turned to the other side and offered Curieuse Island to his Highness the Sheikh and he nodded his approval. I used the island next to Praslin to pay for my escapades and fantasy. It worked JP! I got millions of dollars in just a few seconds. And I asked that the racing car has Seychelles printed on its side.

Jenpa: Sir, you sold Curieuse? What about the Marine Park? What about the giant tortoises and the Coco-De-Mer trees? What about the Doctor’s House?

Mr. President: Ah JP, stop with the questions. After all, there are plenty of tortoises on Aldabra and I can always create another marine park. But I sure sold the island and the Sheik grabbed it quickly since there are very few islands left for us to sell. Just like I sold most of St. Anne to little Francis Savy for one rupee and the ex-Tracking Station La Misere property to the UAE ruler for another rupee. I make deals JP. I do not sit idle. At that moment, I felt rich, I felt like one of those big success stories that surrounded me at the Grand Prix. It was great. No more IMF, no more World Bank, no more Jean Francois Ferrari, no more Gill calling for Truth, Accountability, Reality, no Ramkalawan calling for change now; no Volcere calling my girlfriend and trying to steal my squeeze, no Mancham asking questions about the past, the future and what we still owe him, and will never finish paying, since we just want him and his family to suffer as long as they live.

I felt rich making that deal JP, and I wish the people could feel how I felt at that moment. I wish I had brought SBC and that Tou-Tou Onezime along this time. It would have been really something to share with all the people, especially the JJ Spirit Team.

Jenpa: Sir, but you sold another one of our islands? How could you?

Mr. President: JP, if you ask me that question again, I will make your cousin David Savy reroute to Bangkok again, and sell your little butt down at Pat Pong for a few Bhat. That will make me feel rich again, so don’t push me wonder-boy. Why don’t you go see the American drone maintenance crew and call SBC with you? Take some pictures, make it look like we are fighting piracy and everything is under control for the British press. You could ask him if we could paint the Seychelles flag and name on the drone. That would be publicity JP, and make me feel really rich beyond my wildest dreams!

Jenpa: Yes Sir, of course. (JP exits, depressed and dejected that he has lost another island and have to defend the sale in public and on Facebook… all the while he is trying to figure out where he left his Rayban sunglasses and his 4 inch concealed sole shoes…Oh God, just wait ‘til Regar and Weekly get hold of that story… I am going to be crucified! I need a vacation badly..).

Bye bye Curieuse Island

Sunset Beach Hotel Road Diversion Petition - Seychelles

PETITION TO STOP THE SUNSET BEACH HOTEL ROAD DIVERSION - SEYCHELLES ALERT!

NOTICE

AS PER EIA CURRENTLY ON DISPLAY IN GLACIS DISTRICT ADMINISTRATION OFFICE IN REGARDS TO THE SUNSET BEACH HOTEL ROAD DIVERSION, THERE IS NO PROVISION MADE FOR ANY SORT OF PARKING AND PUBLIC ACCESS TO THE BEACH NEXT TO THE SUNSET HOTEL.

ANY MEMBER OF THE PUBLIC WHO FEELS THAT THEIR RIGHTS WILL BE AFFECTED SHOULD SEND AN EMAIL TO THE ADDRESS BELOW:

freebeachaccess@rocketmail.com

YOU SHOULD ALSO SEND A SHORT LETTER TO YOUR DISTRICT ADMINISTRATION AND TO THE MINISTER OF ENVIRONMENT - MINISTER JOEL MORGAN. ANOTHER EMAIL SHOULD BE SENT TO PRESIDENT JAMES MICHEL AT:

jmichel@statehouse.gov.sc

MENTION THAT ACCESS AND PARKING FACILITY SHOULD BE PROVIDED FOR THE SEYCHELLOIS PUBLIC TO BE ABLE TO CONTINUE ENJOYING THEIR BEACHES.

IF YOU ARE A CONCERNED CITIZEN, PLEASE COPY THE TEXT AND FORWORD THIS MESSAGE TO AS MANY SEYCHELLOIS AS POSSIBLE. OUR RIGHTS ARE BEING VIOLATED AND IT IS TIME FOR THE CITIZENS OF SEYCHELLES VOICES TO BE HEARD. THIS IS NOT A POLITICAL STATEMENT, BUT A CALL TO ALL SEYCHELLOIS TO PROTECT WHAT IS RIGHTLY OURS. THE RIGHT TO SWIM AT ANY BEACH IN SEYCHELLES AND ENJOY OUR BEACHES.

Air Seychelles Business Plan

Another SR 40 Million bailout package for Air Seychelles needed for David Savy's playpen....& Christmas Gifts too.

The plan is to bankrupt the airline, then break it up so David, Francis and Glenny, Adam, Mukesh, Corvina (with Albert as the key Mob Leader) can own the domestic airline that will have a monopoly on flights to the inner and outer islands. Add the Zil Air helicopter service, add the stolen islands such as Farquar and Felicite, add the villas sold to Mauritians and South Africans while they get their cut on each sale, and one can see where this is all going.

Then after another study by some James Michel task force that will cost the people of Seychelles a few more millions that we don't have, Michel will sell Air Seychelles to his Arab friends from Abu Dhabi.... and bye bye Air Seychelles, hello Arab Island Air. Or maybe Air Mauritius can bail us out and Glenny and David will get some shares. Or how about the South African group who now owns Desroches and Alphonse and probably more islands that have been sold off by Glenny and Michel?

Well, thank you David Savy for bankrupting our national airline, thank you Michel, thank you Albert Rene, thank you Glenny Savy, thank you little Prince Francis, thank you Geva, thank you Sarah Rene, thank you Ramadoss, thank you Corvina, thank you Guy Adam and thank you all or all your hard work in selling off our heritage and stealing the remainin pieces. Thank you to all you traitors and thieves who have the gall to call yourselves patriotic Seychellois. A pitiful bunch you are. But the people are watching closely. The end is near, so keep acting as if Seychelles still belongs to you lot. My advice is for you to move overseas with your stolen millions while the going is still good. Because when we find you after the deluge, Montagne Possee will not have enough bars to hold us from getting to you. Retirement will be quite tough.

Chritopher Gill - Address at SNP Convention 8th November 2009

Economic Reality in Seychelles Today

_____________________________________________

ADDRESS BY:

CHRISTOPHER GILL

TO THE SNP CONVENTION

AS AN INVITED SPEAKER

NOVEMBER 8^TH, 2009

*********************************************************************************************************

INTRODUCTION NOTE:

I COME TO SPEAK TODAY, ON INVITATION OF MR. WAVEL RAMKALAWAN.

I THANK HIM FOR THE OPPORTUNITY TO ADDRESS YOU.

THIS IS AN ATTEMPT TO OPEN MORE DIALOGUE IN THE OPPOSITION!

I COME BEFORE YOU, A SEYCHELLOIS, A FATHER, CONCERNED SERIOUSLY FOR THE PROBLEMS OF SEYCHELLES TODAY.

TO FACE THE FUTURE, WE WILL HAVE TO DO IT WITH AN OPEN MIND TO SURMOUNT THE CHALLENGES! WE WILL HAVE TO CALL ON ALL DP SPPF SNP TO BRING CHANGE IN SEYCHELLES!

1. WHAT IS OUR REALITY TODAY

TODAY, SPPF- PP ARE TELLING US WE ARE UNDERGOING AN “ECONOMIC REFORM”.

EVERYWHERE YOU HEAR PHRASE “ECONOMIC REFORM”.

MICHEL HAS TOLD US THE REFORM IS A GREAT SUCCESS.

MICHEL SAYS THE WORSE IS OVER.

BUT MY FRIENDS OF SNP, THE WORSE IS JUST BEGINING- AND IT WILL NOT END, IF WE CONTINUE TO ALLOW MICHEL AND PP. TO DO WHAT THEY WANT WITH SEYCHELLES!

REMEMBER THE STRATEZI 2017? 10% GDP EVERY YEAR. THIS YEAR IT WAS PROJECTED TO BE -10% AND POSSIBLY, IT WILL NOW BE -8 %.

REMEMBER WE WERE TOLD BY MICHEL THAT WE PAID OFF ALL OUR DEBTS AFTER HE CAME BACK FROM VISITING THE POPE?

NOW OUR DEBTS ARE BACK UP $850 MILLION AGAIN, AND WE ARE

NOT REPAYING IT.

OUR SITUATION IS VERY SERIOUS. BUT MICHEL AND PP ARE MAKING US BELIEVE WE ARE ON THE RIGHT TRACK .

WHY DO THEY LIE?

BECAUSE ELECTIONS ARE NEAR.

WHY DO THEY SAY REFORM?

A. IN SEPTEMEBR 2008, WHEN SPPF WAS WIPING OUT OUR NATIONAL RESERVES TO PAY FOR FUEL AND OTHER THINGS

AND SEYCHELLES WENT TO HER KNEES!

IN THE LAST HOURS OF SPPF’S CRAZY ECONOMIC POLICIES, WE WERE ABOUT TO RUN OUT OF FUEL,

CENTRAL BANKS RESERVES HAD DROPPED TO LESS THEN 5 MILLION DOLLARS, SEPEC COULD NOT PAY ITS BILLS,

CARS WERE ABOUT TO STOP RUNNING IN SEYCHELLES WHILE OIL PRICE WAS $140.00 PER BARREL,

IMF WAS BROUGHT IN AND A STAND BY ARRANGMENT WAS MADE, AND AN IMF PLAN WAS ADOPTED BY THE END OF OCTOBER 30, 2008.

THE PLAN WAS TO LAST FOR TWO (2) YEARS.

IMF TOLD US LAST WEEK, THAT IN OCTOBER 2008, SEYCHELLES

COLLAPSED!!!!!!! MICHEL NEVER TOLD US WE COLLAPSED!

AT THAT POINT, IN HIS ADDRESS TO THE NATION OF OCTOBER 31, 2008, PRESIDENT MICHEL, JUMPED ON HIS “BIG HORSE” CALLED “ECONOMIC REFORM”.

B. WHAT MICHEL WAS REALLY SAYING TO US, WAS THAT SEYCHELLES WAS “BANKRUPT” AND HE WAS NOW CALLING IN THE IMF TO PLACE OUR COUNTRY UNDER ADMINISTRATION OF THE IMF.

C. SPPF SAID IT WAS THEIR “HOME GROWN PROGRAM”.

D. MARIE LISE POTTER LEADER OF GOVERNMENT BUSINESS SAID IN THE NATIONAL ASSEMBLY,” NEVER, NEVER, NEVER, WILL WE SAY THE WORD “BANKRUPT”.

SHE SAID:” WE ARE GOING THROUGH DIFFICULTY AND WE WILL REFORM. WE WILL “KOSTE”, AND PULL THROUGH”. SPPF IS NOT SCARED OF DIFFICULTY.

DEAR FRIENDS, SEYCHELLES IS “BANKRUPT”.

SPPF- PP CALL THIS “ECONOMIC REFORM”. WE MUST OPEN THE EYES OF ALL SEYCHELLOIS AND SHOW THEM SPPF-PP “BANKRUPT” SEYCHELLES.

WHEN A COUNTRY HAS 3 MILLION DOLLARS IN RESERVES AND NEEDS US$ 11 MILLION PER DAY, WE ARE BANKRUPT.

IN 2008 WE WERE BANKRUPT.

TODAY IN 2009, WE ARE BANKRUPT UNDER PP AND JAMES MICHEL.

THEY HAVE MADE HISTORY.

IN 5, OR 10 OR 15 YEARS UNDER PP MICHEL, FAURE OR HENSLEY

CONSTANCE, OR DR. PAYET, WE WILL STILL BE BANKRUPT.

IN 2009, WE ARE STILL BANKRUPT WITH $100 MILLION RESERVES, BECAUSE OUR DEBT EXCEEDS $850 MILLION.

WITH -8% GDP WE WILL NEVER REPAY THIS DEBT UNDER SPPF- P.P.

MICHEL FOOLS US TO BUY MORE TIME.

IN THAT TIME SEYCHELLOIS SUFFER! WE WILL SUFFER!

ALL THE SOCIAL ILLS TODAY LIKE DRUGS, ALCOHOL, CORRUPTION, ABUSE OF POWER, ARE THE SIGNS OF A SUFFERING PEOPLE BECAUSE OF SPPF-P.P. FAILURE

RESERVES $ 100 MILLION TODAY ARE ONLY 2 MONTHS EXPENSES.

TODAY, WE ARE NOT PAYING OUR DEBTS. IMF KEEPS THE COUNTRY GOING, AND THE INTEREST ON THE DEBTS KEEP GOING UP.

LAST WEEK ANOTHER IMF AGREEMENT FOR A $ 34 MILLION LOAN WAS SIGNED FOR ANOTHER 3 YEARS, AFTER THE 2 YEAR AGREEMENT. THAT MAKES IT 5 YEARS.

THIS GAME SPPF PP PLAY WILL BE CARRIED OUT FOR OVER 25 YEARS. EVERY 3 YEARS, WE WILL GET ANOTHER IMF AGREEMENT AND SEYCHELLOIS WILL BE CALLED UPON TO SUFFER AND MAKE SACRIFICE WHILE OUR PRESIDENT WATCHES THE GRAND PRIX RACE IN ABU DHABI AND TRAVELS TO ASIA FOR THREE (3) WEEKS.!

TODAY WE NEED SERIOUS LEADERSHIP TO FACE THE SERIOUS CHALLENGE BEFORE US. WE NEED LEADERSHIP THAT IS INTELLIGENT, AS WELL NOT DREAMERS OF THE PERFECT SOCIETY, BUT REAL WORKERS OF THE PERFECT SOCIETY.

IT IS NOT ENOUGH FOR LEADERS TO WORK HARD.

THEY ALSO HAVE TO WORK SMART TO SAVE SEYCHELLES.

SPPF AND P.P. HAVE WORKED HARD TO BANKRUPT SEYCHELLES MAKE HER “FAID”.

WE NEED TO WORK HARD TO MAKE SEYCHELLES SUCCESSFUL AGAIN. WE MUST DOUBLE OUR EFFORT.

2. OUR DEBT

A. HOW MANY MILLIONS WE LOST TO CORRUPTION, MISMANAGEMENT, ABUSE OF AUTHORITY.

HOW MANY MILLIONS HAVE WE LOST BY BAD IDEAS.

EXAMPLE IN 1994, SEYCHELLES COULD JOIN AFRICA ONE FIBER OPTIC CONNECTION TO THE WORLD FOR $10 MILLION.

TODAY WE WOULD HAVE FAST COMPUTERS AND THIS COULD BE ONE OF OUR MAIN MARKETING TOOLS.

SPPF DID NOT JOIN. NOW SEYCHELLES IS 50 YEARS BEHIND KENYA, AND IT WILL COST $30 MILLION TO GET FIBER OPTIC CONNECTIONS TO THE OUTSIDE WORLD.

B. HOW MUCH HAVE WE LOST TO COETIVY FARMS, SILHOUETTE FARMS, ORCHID FARM, IDC, AIR SEYCHELLES, THE ARMY BUDGET, THE DESALINATION PLANTS, LEHMAN BROTHERS BONDS, OTHER BONDS, OTHER LOANS,

THE LIST IS ENDLESS.

MOST RECENTLY MICHEL WANTS “WIND MILLS” TO CUT ELECTRICITY. WRONG AGAIN. ANOTHER MISTAKE.

THE CHEAPER AND BEST SOLUTION FOR SEYCHELLES IN ENERGY ATRAVER “CURANT LA MER”-“WAVE-ENERGY”.

CHEAPER AND NOT UGLY.

BUT MICHEL JUMPS AT THE FIRST THING HE SEES.

C. OUR DEBT STANDS AT OVER $ 840 MILLION TODAY. DIVIDED HALF AND HALF BETWEEN DEBT COMMCERIAL AND DEBT MULTI LATERAL.

D. PARIS CLUB

THIS IS AFTER THE PARTIAL FORGIVNESS OF 22% OF MULTI-LATERAL DEBT HELD BY PARIS CLUB.

THE REMAINING 23% TO BE PARDONED AFTER 6 YEARS IN TOTAL, IF,

IF THE SPPF-PP STAY UNDER THE IMF PROGRAMME.

SPPF- PP SAY 45% IS ALREADY PARDONED TO FOOL US!

THE PARIS CLUB AND IMF KNOW THAT WE HAVE 25 YEARS OF REFORM AHEAD.

IMF

BUT PAUL MATHEIU DOES NOT TELL US THAT BECAUSE HE DOES NOT WANT TO SCARE US.

HE WANTS US TO SUFFER IN TRANQUILITY.

IMF AND P.P WANTS US TO STAY QUIET.

WHEN SPPF PP HAMMER US ON THE HEAD,

THEY WANT YOU TO SAY THANK YOU.

THEY DO NOT WANT YOU TO SAY,’” WAIT A MINUTE, MY FRIEND, YOU ARE HITTING ME ON MY HEAD AND IT HURTS!”

THIS IS TYPICAL COMMUNISM !

IMF HAS NO CHOICE IN THE MATTER BECAUSE THE GOV. (OZORDI) DE JURE IS COMMUNIST.

E. HOW MUCH WE OWE?

PLIS KI $100,000.00 PER HEAD.

IN USA LARGEST ECONOMY OF THE WORLD, PER CAPITA DEBT IS $30,000.00.

THIS GIVES YOU AN IDEA OF WHAT MICHEL AND RENE DID ALL THESE YEARS: THEY BORROWED IN THE NAME OF SEYCHELLES, FOR US TO REPAY.

THEY WILL NOT REPAY THIS MONEY!

PARIS CLUB, IMF, WORLD BANK KNOW THAT WE WILL BE BANKRUPT FOR MANY, MANY YEARS UNDER SPPF PP IF THEY STAY.

ACCORDING TO IMF COUNTRY REPORT ON SEYCHELLES, MAY 2009, OUR DEBT BURDEN IS UNSUSTAINABLE UNTIL 2027. WITH -8 IN 2009, THIS WILL TAKE US TO 2028.

SPPF-PP IN THE MEDIA AND DISTRICT MEETINGS, ARE LYING (BAT LATETE) TO THE PEOPLE TO ENSURE THEY WIN THE NEXT ELECTION.

THEY SAY THE WORSE IS OVER ( TEMPET EN FINI) , WE WERE COURAGEOUS LAST YEAR.

MICHEL WRITES IN STATE HOUSE NEWLETTER, THE “TEMPET” IS OVER; BUT THE “TEMPET” HAS JUST BEGUN.

CHER SEYCHELLOIS, WE MUST WAKE UP FROM THIS BIG LIE BEFORE WE CAN LOOK TO ECONOMIC POTENTIAL OF SEYCHELLES AND OPPORTUNITIES FOR SEYCHELLOIS.

SEYCHELLES CANNOT HAVE PROSPERITY, PROGRESS, IF WE LIVE A LIE ON THE TRUE STATE OF OUR AFFAIRS.

TODAY, UNDER PP WE ARE BANKRUPT (FAID).

1. LOOK AT THE RESERVES

1. GOVERNOR PIERRE LAPORTE SAYS OUR RESERVES ARE $ 100 MILLION.

A. THIS IS 2 MONTHS OF MONEY TO RUN SEYCHELLES AND WE STILL HAVE NOT PAID ANY DEBTS.

B. IT TOOK MR. LAPORTE 1 ½ YEARS TO RAISE TWO MONTHS RESERVE, WITH AN IMF PLAN IN PLACE.

C. NEXT YEAR, HE MAY HAVE 4 MONTHS RESERVE.

THIS IS NOT MAKING HISTORY

THIS IS FIXING- SPICING HISTORY

D. TO GIVE YOU AN IDEA, IN 1976, MANCHAM COALITION GOVERNMENT HAD RAISED POUND STERLING 375 MILLION, ENOUGH THEN TO RUN SEYCHELLES FOR THREE (3) YEARS THEN, PERHAPS 10 YEARS TODAY IN REAL VALUE

TODAY THIS MONEY WOULD BE LIKE HAVING POUND STERLING 800 MILLION

ENOUGH TO RUN SEYCHELLES FOR 10 YEARS.

TODAY, WE ARE NOT PAYING THE DEBT. INTEREST IS RISING!

2. WHO WILL PAY THIS DEBT?

A. MR. RENE WILL NOT PAY THIS DEBT. SINCE 1976, HE HAS LIVED OFF THE GOVERNMENT OF SEYCHELLES. HE HAS COLLECTED MONEY, AND HAS PAID NOTHING IN SEYCHELLES NAME.

B. HIS FAMILY LIVES OFF SEYCHELLES THROUGH PARASTATALS, LITTLE CONTRACTS FOR ISLAND FOR RUPEE ONE (1), ALL IS IN THE FAMILY;

ONE SON RUNS AIR SEYCHELLES,

ANOTHER CONTROLS ALL THE OUTER ISLANDS AND TRANSHIPS FUEL IT BUYS FROM SEPEC TAX FREE TO ESTABLISHMENTS, YET IDC DOES NOT HAVE A TANKER.

ANOTHER SON DID NOT EVEN GRADUATE FROM NYS WITH LITTLE ACADEMIC ACHIEVEMENT, BUT HAS MANAGED TO SET UP A HELICOPTER BUSINESS AND MAKES DEALS WITH THE RICHEST ARABS IN THE WORLD, WITH ONE RUPEE ISLAND PURCHASE, AND OTHER SOFT TRANSACTIONS.

SO DO NOT EXPECT THEM TO PAY OUR DEBTS.....THEY LIVE OFF US.

C. THOSE THAT STOLE MILLIONS AT SMB AND CENTRAL BANK, WILL NOT RETURN THAT MONEY IF GOVERNMENT DOES NOT ASK THEM TO.

D. IF SPPF-PP STAY, THEY WILL NOT PAY.

THE PEOPLE OF SEYCHELLES WILL PAY.......ALL OF US WILL PAY, FOR THE NEXT 25-30 YEARS.

THIS MEANS OUR CHILDREN WILL PAY THE DEBT!!!!!!

THIS IS THE REAL SACRIFICE MICHEL DOES NOT TALK ABOUT IN THE DISTRICT MEETING OR ON SBC!

PRESIDENT MICHEL DOES NOT TALK ABOUT THIS LITTLE DETAIL IN THE DISTRICTS.

3. HOW TO PARDON ALL THE DEBT

A. The other side of this bad situation, is that we can have the entire debt of $840 Million pardoned.

THIS DEBT IS LIKE AN 8” CONCRETE BLOCK AROUND OUR NECKS, DROWNING US WHEN WE TRY TO SWIM.

B. We can have the entire debt removed from our necks, BE FREE AGAIN, AND MOVE ON AS A PEOPLE.

NOW I SPEAK TO ALL SEYCHELLOIS, SNP, DP, SPPF, SPUP, ALL OF YOU EXCEPT FOR THE 15 THAT LIVE OFF US.

C. How- CLUB DE PARIS KNEW-

The Paris Club knew Seychelles could not repay its obligations when it gave out the loans. A new Government that did not create the debt, can approach Paris Club and ask the debt be pardoned, because it gave the money to an already non-performing government that is not responsible.

LIBERIA HAS HAD ITS DEBT PARDONED UNDER THIS REQUEST.

(SERS EN PROGRAM POU PARDON TOU DEBT)

THEY REMOVE CHARLES TAYLOR, WENT FOR DEBT FORGIVNESS, NO MATTER WHAT CHARLES TAYLOR SAID, THEY IGNORED HIM.

D. The Commercial Debt

1.This debt mostly, the Bonds, were issued by an American Company Lehman Brothers. This company had what in law we call an obligation of “Due Diligence”; To inform buyers that Seychelles could not repay the bonds if it had knowledge of that at the time it issued the Bonds, which it did not conduct.

2. Lehmans had a duty of full disclosure to purchasers, and should have questioned and verified Government of Seychelles on ability to repay the bonds.

3. Because there is a lot of fraud in these transactions, a new government can bring out the fraud, establish it in court of law, and render the obligation null and void. Free Seychelles of the obligations.

4. I HAVE ALREADY TAKEN STEPS OF NOTICE REQUIREMENTS UNDER US LAW TO LEHMAN BROTHERS AT THE TIME THE TWO BONDS WERE ISSUED.

NOTICE TO FOLLOW US LAW BY LEHMANS WAS SENT AT THE TIME EACH BOND WAS ISSUED.

LETTERS WERE REGISTERED.

IF WE DO NOT FIGHT, WE WILL NOT KNOW IF WE CAN WIN!

I DO NOT SEE WHY WE CANNOT WIN! BUT WE MUST FIGHT,

BECAUSE THE 15 PEOPLE OF PP RESPONSIBLE FOR THIS “”FAID “”

WILL TRY TO DISCOURAGE YOU. THIS IS NORMAL FOR COMMUNISTS.

The money, $ 400 MILLION plus interest at 10% per annum, where will we get it if we have to repay the Bonds?

4. DO NOT FORGET THE $2.4 BILLION THAT IS MISSING IN THE BANKING SYSTEM ACCORDING TO IMF

Audit the $2.4 Billion MISSING WHEN Government changes.

With a new Government, we can audit the $2.4 Billion as Paul Mathieu

of the IMF has suggested the people of Seychelles should if they so desire.

This money was mostly in offshore deposits that originated in Seychelles, BY SEYCHELLES CITIZENS.

In that Audit, you will find enough money to run Seychelles for 15 years.

Then, we will have no option but to go find that money or a portion that is missing.

THIS MONEY IS THE KEY TO OUR FUTURE.

This EFFORT WILL BE A KEY TO OUR economic future, this is our wealth, which we must secure, after the BANKRUPTCY under SPPF and IMF Administration under PP.

WITH THAT MONEY,

~WE WILL HAVE THE BEST HEALTH CARE POSSIBLE,

~WE WILL HAVE THE BEST EDUCATION POSSIBLE,

~WE CAN HAVE THE BEST TRAINS WITH AIR CONDITION FOR OUR TRANSPORT SYSTEM,

~WE CAN HAVE CABLE CARS TO LA MISERE,

~ALL SEYCHELLOIS CAN TRAVEL 3 TIMES A YEAR BECAUSE THEY WILL HAVE HIGH SALARIES;

~SEYCHELLOIS WILL ALL BE RICH LIKE WE WERE SUPPOSE TO BE WITH THE MOST FANTASTIC ISLANDS ON EARTH;

~OUR JUDICIARY WILL BE INTACT; WE WILL BE ABLE TO BUILD OUR OWN JUDICIARY

AND

~REAL PARLIAMENT OF DEMOCRACY WITHOUT COMMUNIST CHINA DONATIONS THAT PLACE US IN AN EMBARRASSING SITUATION;

~INSTEAD OF RENTING OLD PLANES, AIR SEYCHELLES WILL BE ABLE TO BUY NEW PLANES.

WE WILL NOT HAVE TO JUST DREAM OF A NEW PLANE; WE WILL HAVE THEM!

~AIR SEYCHELLES WILL STOP FINDING EXCUSES FOR OLD PLANES.

~~THERE IS NO LIMIT TO WHAT WE CAN DO, IF WE AS A PEOPLE, DECIDE, WE WANT TO DO IT RIGHT!

5. ANALYSIS OF OUR REALITY WITH MICHEL

DO NOT BE FOOLED BY MICHEL AND PP.~( PA LES MISEL ENBET ZOT)

MICHEL IS AN BIG - ACTOR,

HE HAS NOT MASTERED LAW,

HE HAS NOT MASTERED THE BALLPEN,

HE HAS NOT MASTERED BOOKS AND GOOD IDEAS,

HE HAS MASTERED ONLY THE CAMERA AND THE GUN.

THE CAMERA WITH THE GUN, IS ENOUGH FOR POWER,

BUT NOT ENOUGH FOR LASTING SUCCESS!

6. KOMPRAN IMF------ UNDERSTAND IMF,

THE $2.4 BILLION IS MISSING FROM OUR BANKING SYSTEM IT WAS TAKEN BY SEYCHELLOIS CITIZENS. IMF HAS TOLD US THIS.

IMF HAS ALSO TOLD US, IT IS UP TO THE PEOPLE OF SEYCHELLES TO DECIDE WHAT IT DOES ABOUT THIS MISSING MONEY.

THIS IS A CLEAR MESSAGE FROM IMF:

“IMF IS TELLING US TO CHANGE THE GOVERNMENT ‘’.

BUT IT CANNOT BE DIRECT, IT MUST WORK WITH THE PARTY IN POWER.

BUT IMF TREATS THE PARTY IN POWER ACCORDING TO ITS MERIT.

SOME COUNTRIES LIKE MEXICO FACED WITH COLLAPSE RECEIVED $80 BILLION IN 30 DAYS.

HERE IN SEYCHELLES, IMF GIVES US A LITTLE AT A TIME TO PUNISH US FOR KEEPING P.P. IN POWER.

THE PEOPLE SUFFER THE CONSEQUENCE.

IMF HOPES THAT THIS PAIN WE GO THROUGH WILL HELP US MAKE THE BEST DECISIONS FOR CHANGE.

THIS IS HOW THE IMF, CONTROLLED BY USA WORKS.

I APPEAL TO ALL SEYCHELLOIS,

ESPECIALLY SPPF SPUP, LET US STOP THE PAIN,

LEAVE P.P. IN THE DUSTBINS OF HISTORY

GIVE OUR CHILDREN A CHANCE TO TOMORROW.

7. MICHEL ECONOMIC POLICY

WE CAN NO LONGER HAVE AN ECONOMIC POLICY OF GIVING ISLANDS AND LAND TO ARABS FOR SCR 1 RUPEE,

when we have no money in the hopes of getting money.

THIS IS NOT ECONOMICS AND FINANCE OF A SERIOUS COUNTRY.

I SAY IT AGAIN. THE FIRST JOB WE HAVE IS TO REMOVE PP FROM POWER.

NOT BECAUSE WE THIRST FOR POWER, BUT BECAUSE WE OWE IT TO OUR CHILDREN TO START DOING THINGS RIGHT IN SEYCHELLES.

WE CAN DO THIS,

WE HAVE TO DO THIS!

UNLESS PP IS REMOVED, THINGS WILL ONLY GET WORSE ON THE

ECONOMIC FRONT.

CONCLUSION

LET’S ALL WORK TOGETHER FOR THE SAME OBJECTIVE.

STAY STRONG! STAY DETERMINED. DO NOT LET P.P. WEAKEN YOU.

UNDER COMMUNIST SYSTEM, THEY WEAKEN OPPONENT BEFORE BATTLE, BEFORE ELECTIONS. DO NOT FORGET THIS!

AGAIN, THANK YOU MR. WAVEL RAMKALAWAN FOR THE INVITATION TO SPEAK TO YOUR SNP CONVENTION.

I THANK MY GOOD FRIEND MARC HOUAREAU FOR HIS CRITIC-IDEAS.

I THANK MY MADAM FOR ALL HER DEVOTION,

I THANK YOU ALL FOR YOUR TIME AND

I THANK YOU FOR YOUR DEVOTION TO SEYCHELLES IN THIS DIFFICULT TIME.

MAY GOD BLESS ALL FREEDOM LOVING SEYCHELLOIS!