IMF agrees to help Seychelles with a $107 million economic reform plan

Paul Chow /The Seychelles Independent Newspaper

HOW RESILIENT ARE OUR FINANCIAL INSTITUTIONS?
At the press conference announcing the economic reforms package supported by the IMF the governor of the Central Bank, at least according to SBC in its prime news report, chose to refer to how the CBS must continue to keep an eye on our financial institutions' soundness. Every year the CBS publishes a report on the soundness of our financial institutions. which virtually no one in Seychelles bothers to read or make sense of it apart from the officials of the Central Bank itself. Interestingly the last report, dated for the year 2019, was supervised by no other than the person, as head of the Financial Surveillance Division of the Bank, who is now the Minister of Finance. In the forward to the report he said:
The banking sector remains resilient with capital and liquidity well above the regulatory requirement in 2019.
The latest figures for May 2021 is, however, published and reproduced here for whatever it is worth. All the figures are well above what the Bank for International Settlements (the central bank of banks) recommends.
FINANCIAL SOUNDNESS INDICATORS (PER CENT) May-21
Regulatory Tier 1 capital to risk-weighted assets 17.13
Regulatory Tier 1 capital to assets 8.80
Nonperforming loans net of provisions to capital 12.15
Nonperforming loans to total gross loans 5.09
Return on assets 3.11
Liquid assets to short-term liabilities 38.96
Net open position in foreign exchange to capital -1.86
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Mr Paul Chow do you recall the January before the 2008 world cash the many leading US, Europe Institutions including the IMF, World Bank and the Feds on the resilience of the respective world and national financial institutions - they got zapped and all their prediction and resilience statement were proved completely wrong, inadequate. The mechanism in the SIROP program those refusing to include it in their due diligence process - yet again 2019 our address to the Truth Commission and the wold Justice. -R&c[0]=AT2mP8zEhDEkeOjcqu73OwgOJeX2Xns7e0IaUdFpgSBIKJYPwjwkpba5nmjPfz2pnFugZviVTDFPpcl6Dic4sAH-aF2SR94RRIUtuNuYepuFxsTzTHcE3Rzt29717cp8tdLgtLnidgKlVs6HSm5RuzyMA2dWx3zZ3sTbZ1R7eYV57EY_urnal0d15YeUnoWxKqs8-kNaZ52m3Mamiruoxszd0Xm3ND-sf5ddH4sFG7tGrCYdcQ]https://en.wikipedia.org/.../Financial_crisis_of_2007%E2...