11.08.08
IMF supports Seychelles’ economic reform programme
Seychelles’ economic reform programme has been welcomed by the International Monetary Fund. The IMF’s managing director Dominique Strauss-Kahn made a proposal that the IMF supports the jurisdiction with a stand-by arrangement.
Mr Strauss-Kahn noted that the Seychelles authorities’ reform programme is wide-ranging. He welcomed the programme steps that were announced by President Michel and the legislative changes that were adopted by the Seychelles’ parliament. According to him, “these include fundamental liberalisation of the country’s exchange regime that will enable a floating of the rupee, significant and sustained fiscal tightening, and reform of monetary policies to promote liquidity management based on indirect instruments.”
Also, Mr Strauss-Kahn added that important steps were taken in order to strengthen a social safety net. So, he was pleased to propose to the International Monetary Fund’s executive board to supports the Seychelles’ government’s economic reform programme under a stand-by arrangement.