Global economic support merits ours


23-May-2009

It came from major organisations including the World Bank, the European Union (EU), the African Development Bank and the International Monetary Fund (IMF).

As expected, the partners showed they are taking seriously the recommendations of the authoritative IMF, which is leading the reforms.

The fund told the partners our reforms merit support because they were necessary, are now going according to plan and are producing the desired results.

We are most grateful that the rest of the world understands and supports us, with the EU announcing it is making a turnaround for the better in its approach to our country.

The Paris Club members have already offered to reduce our debts by 45% and to reschedule the rest over 15 years, with a five-year grace period, under what the IMF said is exceptional treatment according to the Evian approach.

And the fund has called for comparable treatment from our private creditors.

The support from the world bodies and the countries that took part in the forum is a call for us to throw our own support including that of banks and traders behind the reforms, which are promising a better future for all of us.

Therefore, let us come even closer together as Seychellois and support these homegrown reforms that suit our unique situation and watch our economy grow in harmony with the rest of the world, for our own benefit.

Send your comment :

Name *

Email *

Comment *