What is Seychelles Bankcruptcy Really Like?

It is becoming clear that the SPP government has changed its attitude to try and save their skins and hope to sink less in to the Black hole of bankruptcy. Time is running out and more extraordinary and uncommon things needs to be done at all levels. These include be-friending ex-enemies, the so called capitalist world such as the United States, United Arab Emirates and rushing here and there between China and India and then appearing in the districts to pretend to listen to all the people’s problems. The former strategy is even more simple, the president has to simply beg and beg. This is the economic development reform. However, this “begging” strategy is still not working as the black hole situation is so deep. Now the final answer-the silver bullet-super gravity effect to escape the black hole dilemma seems to be promising as new data shows large potential reserves for oil in the EEZ. But it will take many years..... I wonder if this men ever understood basic economics. It will be the magic of the day to all the government’s problems and suffering of the people they themselves have created.

In the end the economic problems will not solve in the short and medium term if the political systems are unchanged. This is what it feels like in a Black hole when the government wanted to listen only to the Yes comedians and were the country is managed by loyal appointed candidates. On this note, we should remember the SPPF slogan which goes something like “ BE WHAT YOU WANT TO BE”. Now it makes more sense than ever. If you want to be Chancellor of Seychelles University, No problem. If you want to act like Foreign Affairs Minister, it can be done. I wonder what are the next wishes for him and his entourage, perhaps Commander in Chief for Oil. Anything you wish is possible as long as you serve the SPPF/SPP. It is this attitude which will keep us in the deep black hole for a good long time. People of the Seychelles should understand even if natural resources lie underneath our feet, any government can exploit them, but it takes good governance to manage the resources, not the Yes men and loyal servants who fulfills their slogan “BE WHAT THEY WANT TO BE” and then bankrupt the country even further.

Lastly, I promise that in our future writing, we shall explore together the definitions of patriotism. This is to put some rest to those people who think if you debate or make criticism you are not patriotic. The question is: patriotic to “what”and “who”? What is the difference between between patriotic to the ruling government and that to out motherland. Our principle is very clear we are not patriotic to individuals or systems of governance but to our motherland. We operate on the name of transparency and accountability... we are patriotic to the principles of good governance.

The Game of Transparency and Accountability: What is the Link between the 2.4 Billion Dollars and the Declaration of Assets in the Seychelles?

To start with, we call on simple definitions first to understand the game playing between transparency and accountability, because being transparent does not mean accountability.

Transparency and Accountability

Transparency often implies openness, communication, and accountability. The lack of these elements may often lead to corruption. Transparency is introduced as a means of holding people accountable and help in fighting corruption. On the other hand, to fight corruption people need to become accountable. In simple terms, people should be hold responsible for any wrong doing as corruption is a crime. Forms of corruption vary, but include bribery, extortion, cronyism, nepotism, patronage, graft, and embezzlement. The interesting question is how and who will make the state accountable when the state itself is corrupt? Fortunately, when all legitimate mechanism fails because they are under the control of the state apparatus, it is the people who have the power to make the state accountable. This is a global issue, not only in the Seychelles.

The Game of Transparency in the Seychelles

It is fact that 2.4 Billion dollars have been carefully moved outside Seychelles far ahead of the IMF intervention and the so called declaration of assets. What are the reasons for the delay in declaration of assets? It is evident that only after this money was resting safely overseas that declaration of assets is now taking effect. Unfortunately, this development sound like the ordinary stories of cops and robbers. It seems there is a perfect timing between the two actions. However, even the declaration of assets as an act of transparency is only part of the game. Where is Mr. Accountability? When a manager bankrupts a company or a bank his accountability to the clients can be exercised in many ways, but this did not happen in the Seychelles. Is this correct or not?

How to Address Real Transparency, Accountability and Corruption in the Seychelles

Nation of 22.08.2009 points out that the declaration of assets, for example, is dependent on the fact that any of us who have doubts about the assets of an individual can start off an investigation. This is only one side of the story perhaps nation intentionally wants us to believe or perhaps need help to make the people of Seychelles understand. After all, plurality improves thinking and decision making process. This is the whole point about good media. Many citizens have reasonable doubts about the 2.4 billion dollars. This is fact. We are currently more interested in the undeclared assets or to be more precise we want full explanations about the 2.4 Billion dollars. How was that money generated and who are the power holders of that money? Investigations cannot be triggered off only from declared assets. The main story in fighting corruption is to identify and trace the undeclared assets. This is where the real corruption breeds, at the heart of undeclared assets. There is no sense to think that criminals will reveal and declare all their assets on paper. What do they really do? They hide it, move it around, use different accounts, different names, pass it on to different trusted friends etc. So, we should start off an investigation. Good media should professionally seek to inform us more about these issues. Is that correct or not?

One recent investigation on the issue of funds misuse on Ile Perseverance done by an Australian firm finds no misuse. This maybe so or part of a playing game of transparency. Nevertheless, now the most important question is: Shall we expect another investigation on this matter of the 2.4 Billion dollars? Will all the members of the assembly call for an independent enquiry in the 2.4 billion dollars scandal. This is big money, and many people have reasonable doubts as pointed out by Nation themselves. However, proper enquiries matching to this problem of 2.4 Billion dollars requires more than just one investigator. One investigator can be proposed by the leader of the opposition or if not appropriate consult with excluded people sitting on the other side of the table.