IMF executive director discusses country’s economic achievements with President Ramkalawan |11 May 2022

Mr Huh during his meeting with President Ramkalawan at State House yesterday (Photo: Thomas Meriton)

International Monetary Fund executive director for Seychelles Chang Huh has said the world’s financial body highly appreciates the achievements of the Seychelles government in the course of implementing its programme.

“This is because it is not so easy to over achieve the target. I think it is almost the first case for a small developing country,” International Monetary Fund (IMF) executive director for Seychelles, Chang Huh told the local press after holding talks with President Wavel Ramkalawan at State House yesterday morning.

Mr Huh further stated that among small developing countries, the achievements of the Seychelles government is an exemplary case and he appreciates the efficiency and capacity of Seychelles as many countries have communication issues with the IMF team.

The IMF executive director or Seychelles acknowledged that many countries have issues with implementing the IMF programmes. He said considering the vulnerability, the smallness and open economy of Seychelles, he has proposed that the country keeps close contact with other international institutions to mobilise more capital for economic development.

Mr Huh added that other countries should trust the Seychelles economy and its good relationship with the IMF and other international institutions like the World Bank.

“When the IMF programme team visits a country like Seychelles, normally they visit the office which represents the Seychelles fund, they come together to coordinate the work between the IMF and the government. If the team receives any issues then the IMF and the country team work together for a solution but in the case of Seychelles, there has been no special work as everything has been running smoothly,” Mr Huh said.

With the current economic crisis in the world, the IMF executive director advises Seychelles to be prepared for any external challenges and to work with the international community. He added that the President’s decision to open the borders last March was a very brave one and he noted that if the government can make brave and right decisions for the country, he is confident the country can deal with any external factors.

Minister for Finance, National Planning and Trade Naadir Hassan and the Governor of the Central Bank Caroline Abel were also present for the meeting at State House.

Marla Simeon