See also: » 02.02.2010 - Seychelles appoints ambassadors to boost tourism » 17.12.2009 - Seychelles appeals for small islands' right to exist » 11.11.2009 - Somali pirates seize SA bound cargo ship » 09.11.2009 - W/B helps Seychelles out of economic deep end » 23.10.2009 - Seychelles takes additional measures against piracy » 19.05.2009 - IMF encouraged by Seychelles' reforms success, but warns... » 09.12.2008 - Calls for national unity govt in Seychelles » 16.10.2007 - Seychelles launches ICT policy Houlihan's coupons

Finn autentiske matoppskrifter fra hele verden på Verdensmat.no: Gazpacho Børek Kartoffelsalat Taboulé Gulasj Albóndigas Cevapi Rougaille Japrak sarma Zwiebelbrot Klopse Giouvetsi Paella Pljeskavica Pica pau Pulpo a la gallega Flammkuchen Langosj Tapenade Chatsjapuri Pasulj Lassi Kartoffelpuffer Tortilla Raznjici Knödel Lentejas Bœuf bourguignon Korianderchutney Brenneslesuppe Proia Sæbsi kavurma Sardinske calamares

Autentiske matoppskrifter fra hele verden finner du på Verdensmat.no: Réunion Portugal Aserbajdsjan Serbia Tyskland Seychellene Bosnia Spania Libanon Belgia India Kroatia Hellas Italia Ungarn Komorene Georgia Mauritius Østerrike Romania Frankrike

afrol News, 18 August - The International Monetary Fund (IMF) has urged Seychelles to consolidate macroeconomic stability by maintaining tight fiscal policy, and progressively putting in place supporting structural reforms to remove constraints to growth and improve the performance of the public sector.

“Strong progress on inflation reduction and the appreciation of the rupee has permitted a gradual easing of monetary policy. The preparation of a fundamental reform of the tax system, a major reinforcement of control over parastatal performance, and strengthening of the financial system are proceeding,” the IMF mission noted at the end of its recent visit.

“Seychelles' public debt remains unsustainable. Good progress is being made in advancing public external debt restructuring discussions and the mission encourages the authorities to press ahead with their debt restructuring strategy,” said the IMF, further noting that the economic downturn, reflecting primarily a sharp drop in tourism earnings for Seychelles, was easing and the decline in real GDP is likely to be somewhat less that earlier feared.

Seychelles was approved in November last year under the IMF arrangement for about US$24 million, of which about $12.3 million has been disbursed.

The IMF mission said about $1.4 million was available with confirmation that the end-June performance criteria have been observed. The next programme review mission (the third), based on end-September performance, is expected in October 2009, and will coincide with discussions on a medium-term structural reform programme to be supported by a 3-year arrangement under the Extended Fund Facility (EFF).

By staff writer

© afrol News

Tweet

Printable version

On the Afrol News front page now

Rwanda

Rwanda succeeds including citizens in formal financial sector afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda. Read more

Famine warning: "South Sudan is imploding" afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries. Read more

Guinea

Panic in West Africa after Ebola outbreak in Guinea afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease. Read more

Ethiopia

Ethiopia tightens its already strict anti-gay laws afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared. Read more

Ethiopia

Ethiopia plans Africa's biggest dam afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries. Read more