11.07.09

IMF and World Bank discuss Seychelles’ economic reforms a year after launch

Posted in Seychelles government at 9:26 pm by Robert Klien

On October 30, representatives of the International Monetary Fund (IMF) and of the World Bank gave presentations on the economic performance a year after the launch of reforms in Seychelles. Presenters included Paul Mathieu of the IMF and Tracey Lane of the World Bank.

The representatives noted that the situation was getting out of hand with foreign reserves being nearly depleted when unsustainable debts were run amongst widespread shortage of foreign exchange. But a year after the launch the situation has changed.

The symposium said the government of Seychelles has been able to cut its spending and that currently it is running more efficiently (for example, health and education sector has more resources at their disposal as compared with some developed countries).

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