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Courtesy call by the IMF Mission Head

Finance

Courtesy call by the IMF Mission Head

Mon, 31 October 2016

President Danny Faure received the Deputy Division Chief of the African Department, who is also the International Monetary Fund (IMF) Mission Head for Seychelles, Mr. Wendell Samuel. The meeting took place at State House on Friday.

Mr. Samuel and his delegation are currently in Seychelles on an official mission.

President Faure welcomed Mr. Samuel and his delegation and expressed Seychelles' wish to continue on the program for future success. "The government of Seychelles remains committed as ever to fiscal discipline and macro stability which is paramount to the economic direction of the country. We are reinforcing structures within the Seychelles Revenue Commission for them to better gather revenues. With the new reform in incomes tax we are also ensuring that there is efficiency in the process as well," said the President.

The IMF delegation briefed the President on the mission's findings based on the various meetings they have held with different stakeholders in the economic arena. They also discussed the Extended Fund Facility (EFF) programme with IMF amongst other matters.

"A lot has happened since our last visit, the economy continues to grow strongly, inflation remains under control, the exchange rate remains fairly stable. So in broad terms, the economy of Seychelles compared to other places remains strong, maybe even the strongest economy in Africa, in terms of growth and inflation performance," said Mr. Samuel in an interview with the press following the meeting.

Also present at the meeting was the Minister for Finance, Trade and the Blue Economy, Mr. Jean-Paul Adam, the Governor of Central Bank of Seychelles, Ms. Caroline Abel, Economic Advisor to the President, Mr. Bertrand Belle, the Advisor to the Executive Director at the International Monetary Fund for the Asia-Pacific constituency, Mr. Ronald Cafrine and Principal Secretary for Finance & Trade, Mr. Patrick Payet.

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