Minister Hassan calls for national unity as Seychelles embarks on an economic reform programme with the support of IMF
July 08, 2021
The Minister for Finance, Economic Planning and Trade, Naadir Hassan, has called for national unity as Seychelles embarks on an economic reform programme with the support of the International Monetary Fund (IMF).
He made the call, just after the conclusion of the negotiations.
Seychelles and the IMF have reached a Staff-Level Agreement on a $107 million Arrangement under the Extended Fund Facility.
In his statement before the National Assembly yesterday afternoon, Minister Hassan urged all leaders in the country to support the programme if the country is to survive the economic downturn brought about by the COVID-19 Pandemic.
“Today, at this juncture, our country needs to unite. It is the future of our country and our children which is in danger. We need to ensure that our country survives this crisis and to do that the decisions we are taking today will determine what kind of Seychelles we want to see in the future. If we do not take these decisions now, we will bear the consequences tomorrow.”
The programme will be for a period of 28 months to support the government’s policy and reform efforts aimed at:
- Reinforcing the country’s recovery from the pandemic
- Preserve macroeconomic stability and
- Advance the reform momentum to raise and sustain inclusive long-term growth
The Head of the IMF Mission Chief to Seychelles, is Ms. Boriana Yontcheva, and she was in the country between 29th June and 06th July to finalise negotiations.
The Staff-level Agreement is to be submitted to the IMF Management for approval and the Executive Board for consideration.
Below is the the Minister's statement and Press Release from the International Monetary Fund.