March 10, 2010 -- A World Bank delegation has said Seychelles' economy has done 'extremely well" since efforts to address the debt situation started with the float of the rupee.

The nine-member delegation called on President James Michel at State House yesterday in the company of Finance Minister Danny Faure, his principal secretary Ahmed Afif, and Central Bank of Seychelles governor Pierre Laporte.

"Seychelles has come out extremely well and stabilized the economy, and the market seems to be responding extremely well," World Bank alternate executive director Stewart James said yesterday.

"We are now entering a new phase in which we need to work just as hard together," said Mr James who added that his organization stood ready to give whatever help they could.

"The economy is increasingly being run by the private sector, and the bank is working with Seychelles to help in this transition as the economy moves from the public sector," he told the media.

Mr James said the bank can help not only through financing but also with ideas from other countries' experience.