Private Sector is informed about the GOS Economic Reform Programme with IMF Support

July 16, 2021

The Ministry of Finance, Economic Planning and Trade and the Central Bank of Seychelles have kick-started a series of awareness campaigns to keep stakeholders informed on the Government of Seychelles Economic Reform Programme with the support of the International Monetary Fund (IMF).

Representatives of the Ministry and CBS hosted heads of media houses in the first meeting held on Thursday 15th July, just one day after the formalisation of the Staff-level Agreement between the Government of Seychelles and IMF. The meeting saw the participation of representatives of five media houses as well as two participants from the Seychelles Media Commission.

The second meeting held on Tuesday 13th July brought together members of the Civil Society, represented by the Citizens Engagement Platform Seychelles (CEPS) as well as Transparency Initiative Seychelles (TIS).

Members of the private sector have also been briefed on the economic reform programme in the third meeting held on Friday 16th July. The Seychelles Chamber of Commerce and Industry (SCCI) was represented by some 14 members, some of whom attended the meeting physically, while others participated virtually. The members were representing different business sectors, from tourism, omnibus operators, agriculture, telecommunications, financial services and fisheries, amongst others.

All three meetings started with a presentation on the objectives and the end results of the reforms, followed by questions and clarifications from participants.

While all three groups sought clarification on specific issues relating to the economic reform programme, they all echoed the wish to be fully engaged in the process. They emphasised the need to be kept well informed at all times and offered their assistance throughout the process.

Minister Naadir Hassan has assured the participants that both, his Ministry and CBS, have an open-door policy and that the awareness campaign is one that is targeting all sectors of the society.

“We are opening all channels of communications with our stakeholders, because we believe that this reform is not only for the Government but it is for Seychelles. We all need to be fully engaged, so that we can rebuild our economy, following the hardships of the COVID 19 pandemic,” said Minister Hassan.

He expressed his appreciation to all the stakeholders for heeding the call and accepting the invitation to start this national conversation, which will be undertaken on a regular basis, with all stakeholders

To note, it was last week that Seychelles and IMF reached a Staff-Level Agreement on a $107 million Arrangement under the Extended Fund Facility (EFF).

The agreement is subject to the IMF management approval and Executive Board consideration.

Below are the photos of the three meetings the Ministry and CBS have organsied so far.

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