See also:
» 08.12.2010 - Piracy costs Seychelles millions
» 03.12.2009 - Seychelles rejects financial piracy allegations
» 09.11.2009 - W/B helps Seychelles out of economic deep end
» 02.11.2009 - Sliding Seychelles secures growth in 2010
» 18.08.2009 - Seychelles must tighten macroeconomic stability, IMF
» 19.05.2009 - IMF encouraged by Seychelles' reforms success, but warns...
» 01.04.2009 - IMF approves disbursement of Seychelles’ stand-by arrangement
» 25.10.2008 - Seychelles Central Bank governor resigns











China wholesale online through DHgate.com


Houlihan's coupons


Finn autentiske matoppskrifter fra hele verden på Verdensmat.no:
Gazpacho Børek Kartoffelsalat Taboulé Gulasj Albóndigas Cevapi Rougaille Japrak sarma Zwiebelbrot Klopse Giouvetsi Paella Pljeskavica Pica pau Pulpo a la gallega Flammkuchen Langosj Tapenade Chatsjapuri Pasulj Lassi Kartoffelpuffer Tortilla Raznjici Knödel Lentejas Bœuf bourguignon Korianderchutney Brenneslesuppe Proia Sæbsi kavurma Sardinske calamares


Autentiske matoppskrifter fra hele verden finner du på Verdensmat.no:
Réunion Portugal Aserbajdsjan Serbia Tyskland Seychellene Bosnia Spania Libanon Belgia India Kroatia Hellas Italia Ungarn Komorene Georgia Mauritius Østerrike Romania Frankrike


Seychelles
Economy - Development

Soaring interest rates in Seychelles

afrol News, 10 December - The Housing Finance Company (HFC) says it will apply adjuted interest rates from January 2009, especially for housing loans.

The normal housing loans, for amounts not exceeding rupee 350,000 (rand 220,000), will now charge 13 percent interest, up from the current average of 7 percent, the organisation's chief executive Charles Bastienne told the 'Nation' daily newspaper.

"Interest for second housing loans of up to rupee 175,000, with which children build on their parents' property, will also be charged 13 percent instead of the present 7 percent," Mr Bastienne said, adding that "commercial loans", in which Seychellois borrow between rupee 351,000 and 500,000 to build their houses would now be charged at the rate of 16 percent, up from the present 10 percent.

The Housing Finance Company blamed the soaring interest rates on commercial banks, who were themselves now charging higher interest rates.

The shocking news was presented today by the Seychellois press, but consumers have already reacted to the soaring interest rate. Mr A Payet from Seychelles told afrol News this "arousing news" was sure to "bring disaster to many families and become a brake on growth" on the archipelago.


- Create an e-mail alert for Seychelles news
- Create an e-mail alert for Economy - Development news


 
    Printable version


On the Afrol News front page now

Rwanda
Rwanda succeeds including citizens in formal financial sector

afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.

Famine warning: "South Sudan is imploding"

afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
Guinea
Panic in West Africa after Ebola outbreak in Guinea

afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
Ethiopia
Ethiopia tightens its already strict anti-gay laws

afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
Ethiopia
Ethiopia plans Africa's biggest dam

afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.



front page | news | countries | archive | currencies | news alerts login | about afrol News | contact | advertise | español 

©  afrol News. Reproducing or buying afrol News' articles.

   You can contact us at mail@afrol.com