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‘James Michel ready to testify about missing US $50 million’
Former President James Michel is ready to testify and declare whatever he knows about the missing US $50 million.
President Wavel Ramkalawan made these comments in the
News Extra programme on Seychelles Broadcasting Corporation (SBC) TV last night.
President Ramkalawan met former President Michel at the 2020 Abu Dhabi Grand Prix race at the Yas Marina Circuit last Sunday. The two were pictured in the VIP box at the 2020 Abu Dhabi Grand Prix, which took place over 55 laps of the 5.554-kilometre Yas Marina Circuit on Yas Island.
Speaking to journalist Marie-France Racombo after his return home yesterday following a five-day working visit to the United Arab Emirates, President Ramkalawan said: “The Formula 1 race is a great pride for the UAE and it is a time when they invite different world leaders over, but because of Covid-19 pandemic apart from me there was no other world leaders there. And former President
Governor Abel (Photo: Anel Robert)
Despite demand consistently outweighing supply of foreign exchange to the domestic market, the Central Bank of Seychelles has over the past couple of weeks recorded a slight improvement in both, resulting in some stability in the foreign exchange market.
Governor of Central Bank of Seychelles (CBS) Caroline Abel, during the press update held at ICCS yesterday, noted that demand is still slightly higher than supply, although CBS continues to monitor the situation on a daily basis.
“Over the last two weeks, we have observed some stability in the exchange rate and some convergence of demand and supply, but what remains as a concern for the Central Bank in light of an elevated exchange rate, it is having a significant consequence for increasing prices, and therefore affecting the objective of price stability of the CBS. We would like to call on all economic agents that we really need to relook at our consumption, which will affect the whole country