Minister of Finance and Designated Minister Danny Faure of Seychelles

Faure took up the post of Minister for Education.
Mr Faure said there will be no goods and services tax on the 13 agreed basic commodities but their prices will have to be adjusted.
Minister Faure said by March the sale of bottled water and tomato sauce will have been privatised, along with the seagoing vessel Enterprise I and the Meat Corner.
Mr Faure said the government will soon announce incentives necessary to help the private sector absorb Seychellois who volunteer to leave public service, and there will be a localisation plan to ensure expatriates are replaced wherever possible.
When answering questions from journalists, Mr Faure said the difference between the microeconomic reform programme of 2003 and the ongoing reform is that the current one is comprehensive and has the approval of the International Monetary Fund, which the earlier one did not.
Despite the Constitution's clarity on accountability for the spending of public funds, the Ministry of Finance under Mr Michel and Danny Faure has never fulfilled the letter of the law.
At the time of writing, more evidence of contempt of the Constitution by President Michel and Danny Faure has come to light.
Noting that the strategy of our Government has always been to balance provision of good social services with good economic management for sound and sustained development, Minister Faure said that the country’s new credit rating is indicative of the firm commitment of Government to prudent fiscal and monetary policy, as well as continuing to maintain the social cohesion, political and macro-economic stability that is required for long-term growth.
Noting that the country’s future prospects are on the bright side, Minister Faure said that the economy is anticipating to record further improvements on many important fronts.
Commenting on the 2007 fiscal objectives, Minister Faure said that the aim of the 2007 budget is to achieve a surplus of 7% of GDP, so as to improve the fiscal position of government and to further sustain the debt reduction programme.
Minister Danny Faure was giving the National Assembly details of recent approaches by the government to international finance grouping the Paris Club over the country’s debt, which now stands at R1.
Mr Faure said the money – which has been borrowed over the years through Seychelles’ bilateral relations with countries such as France, the UK, Spain, Germany, Japan, Belgium, Italy and Russia – has been invested in the country’s socio-economic development.
On the debt issue, Mr Faure said the Club wants to move forward but it needs an indication that Seychelles wishes to negotiate a programme with the International Monetary Fund (IMF.
Minister Faure said all the relevant international institutions today clearly understand the situation of Seychelles, and they are much encouraged by the development and progress being made.
Mr Faure said that now the process has begun, talks will be held on two levels.
In the end of June, the Minister for Finance Danny Faure said that Seychelles has officially started the process of debt rescheduling.
Faure said that the President, the minister of finance, the minister of foreign affairs and other government officials have contacted institutions like the African Development Bank (ADB) and the World Bank in order to rally support for negotiation on Seychelles debt.
Mr Faure said that the Paris Club wants to move forward with the debt issue, but it needs an indication that the jurisdiction wants to negotiate a programme with the International Monetary Fund (IMF.
Minister Faure said that the government has been in discussions with the Chamber of Commerce and other stakeholders in the private sector, to initiate the implementation of economic measures to encourage recycling and discourage littering in all its forms.
Finance Minister Danny Faure said the challenge was to stimulate a financial system that remains largely reliant on tourists from rich nations -- many of whose own economies are now on the brink of recession.