News & Analysis: Seychelles

Final preparations before commercial flights resume (Seychelles)

“With only three days to go before the re-opening of the Seychelles International Airport for the resumption of commercial flights, President Danny Faure was yesterday briefed by government officials and private sector representatives on the final preparations underway.”

via Seychelles Nation

Affected by the impacts of COVID-19: Seychelles National Parks Authority Shifts its Operations

“With its activities highly dependent on tourism which has been severely affected by the impacts of the COVID-19 pandemic, the personnel of the Seychelles National Parks Authority which obtained financial autonomy in January 2018, have had to shift their operations.”

via Seychelles Nation

World Bank Announces $15 Million to Mitigate the Impact of COVID-19 in Seychelles

“The World Bank approved on June 25 a $15 million loan from the International Bank for Reconstruction and Development in support of the Republic of Seychelles’ response to the economic and social fallout of the COVID-19 pandemic. The Development Policy Lending will help enhance the country’s response mechanisms in health, social protection and the private sector, and to support the country’s post-crisis recovery through strengthened financial systems and climate resilience.”

via World Bank

Central Bank of Seychelles loosens monetary policy rate by 1%

“Following thorough evaluation of external and local economic situations, which have taken a downturn due to the impacts of COVID-19, the Central Bank of Seychelles is further loosening the monetary policy rate by 1% for the third quarter of 2020.”

via Seychelles Nation

How are businesses faring with the new normal? (Seychelles)

“Several categories of businesses were as of Monday allowed to re-open their doors on condition that they meet certain requirements and guidelines established by the department of health, in line with the Public Health Act, with the aim of preventing new cases and to mitigate community transmission if a new case is detected, in the event that the country is faced with a second wave of the COVID-19 pandemic.”

via Seychelles Nation

A post-COVID-19 economic reality can kickstart Africa’s free trade area

“The African Continental Free Trade Area was launched two years ago at an African Union summit in Kigali. It was scheduled to be implemented from 1 July 2020. But this has been pushed out until 2021 because of the impact of COVID-19 and the need for leaders to focus on saving lives.”

via Quartz Africa

WHO urges caution as countries in Africa ease lockdowns

“Three months after the first case of COVID-19 was detected in sub-Saharan Africa, the region has made progress in tackling the virus. Many countries implemented lockdowns and key public health measures early and these appear to have helped slow down the spread of the disease. However, there are concerns that if these measures are relaxed too quickly, COVID-19 cases could start increasing rapidly.”

via Africa Renewal

Seychelles is free of COVID-19 after 11th patient tests negative

“All 11 patients in Seychelles who had tested positive for COVID-19 have, after a period of treatment, now tested negative for the virus… Seychelles has not recorded any new positive cases of the virus since April 5, meaning the island nation is, as of this moment, free of COVID-19.”

via Seychelles News Agency

Meeting Africa’s urgent liquidity needs while protecting its access to international markets

“A solution to finance Africa’s commercial debt service could free up over $44bn of fiscal space for Africa in 2020, providing immediate liquidity to governments – a much needed immediate bridge to renewed growth for Africa and the global economy.”

via New African Magazine

Seychelles Fitch rating drop expected, Minister Loustau-Lalanne says

“Following the publication of the Fitch rating report in which Seychelles has dropped two levels, from a BB rating with stable outlook to B+ with a stable outlook, Minister for Finance, Trade, Investment and Economic Planning Maurice Loustau-Lalanne yesterday said that even much worse was expected, on account of the economic implications of the COVID-19 pandemic on the domestic economy.”

via Seychelles Nation