State House

Office of the President of The Republic of Seychelles


IMF Team Reports On Economic Reform Performance

A team from the International Monetary Fund (IMF) was at State House yesterday to apprise President James Michel of the ongoing economic reform performance.

IMF's head to Seychelles, Mr Jean Le Dem, said after the State House meeting that the delegation told the President "the programme's performance is good and the country has met all the quantitative criteria as at the end of June 2011".   

Mr Le Dem said the IMF would next review the structural reform pogramme and see where it is necessary to accelerate the programme and discuss Seychelles Budget 2012 whose biggest challenge will be the situation with Air Seychelles ...."

According to Mr Le Dem measures have already been taken with a view to seeing how the airline could get out of the red and therefore limit the need for budget support.