19 March 2018

Seychelles: President Faure Receives IMF Advisor and Mission Chief for Seychelles

press release

The advisor to the Director of International Monetary Fund (IMF) African Department and Mission Chief for Seychelles, Mr Amadou Sy, paid a courtesy visit to President Danny Faure at State House today. He was accompanied by the Alternate Executive Director representing Seychelles at the Board of IMF, Mr Grant Johnson, and Senior Economist Director, Mr Tetsuya Konuki.

President Faure welcomed Mr Sy once again to Seychelles and thanked the delegation for their visit, which forms part of their first review of the IMF programme and meeting all stakeholder concerns. The President expressed his gratitude for advice given by the IMF and noted that Government is working on various aspects of their recommendations.

During the meeting, Mr Sy shared with President Faure some of the IMF's findings and recommendations after looking at Seychelles' macroeconomic progress, trends, developments, and policies.

The IMF's Official Mission lasted two weeks and involved meetings with the Ministry of Finance, Central Bank of Seychelles, and various stakeholders including the youth, parastatals, and bank representatives.

Seychelles requested a programme to consolidate macroeconomic stabilisation, enhance resilience, and foster sustained and inclusive growth to be supported under the IMF's Policy Coordination Instrument (PCI).

"We are here to provide advice, recommendations, and technical assistance should the authorities request it. The programme was passed successfully at the IMF Board about 6 months ago. As part of the agreement with IMF, we have to come here every 6 months to review the programme," said Mr Sy in an interview with the local media.

Present for the courtesy call at State House was the Minister for Finance, Trade and Economic Planning, Dr Peter Larose, the Governor of the Central Bank, Miss Caroline Abel, Principal Secretary for Finance, Mr Patrick Payet, and the Principal Secretary for Economic Planning, Mrs Elizabeth Agathine.

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