08.28.06

Seychelles in IMF

Posted in International Organisations at 3:27 pm by Robert Klien

The Seychelles is one of the members of the International Monetary Fund (IMF).

The IMF is an organization that consists of 184 countries and works in order to:

  • foster global monetary cooperation,
  • facilitate international trade,
  • secure financial stability,
  • promote sustainable economic growth,
  • reach high employment
  • and reduce poverty.

On April 22, 2006, Honorable Tae-Shin Kwon, Vice Minister of the Ministry of Finance and Economy of the Republic of Korea made an IMFC Statement on behalf of 14 states among which was the Seychelles as well as Australia, New Zealand, Vanuatu, Solomon Islands, Mongolia, Federated States of Micronesia, Kiribati, Republic of Korea, Republic of the Marshall Islands, Philippines, Republic of Palau, Papua New Guinea and Samoa.

The statement emphasized the role of the IMF in the prosperity, stability and international monetary cooperation of these countries. The statement paid special attention to IMF role in low-income countries and their sectoral vulnerabilities which is very important for the Seychelles.

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