SEYCHELLES: ECONOMIC IMPACT OF PANDEMIC CAUSES UPSET VICTORY IN ELECTIONS
Tue, 27 October 2020
The politicisation of the economic impact of the pandemic, especially a sharp drop in tourism revenues and related income, has triggered the first opposition victory in 44 years. The incoming government will shake up the entrenched elite, while seeking new debt to increase economic stimulus. However, a repeat of Seychelles’ default of 12 years ago seems unlikely as the banking sector remains strongly positioned and IMF support is assured.
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