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World Bank: Seychelles economy is doing well

Victoria | January 21, 2014, Tuesday @ 12:24 in Business » FINANCE | Views: 2688
World Bank: Seychelles economy is doing well

World Bank Senior Advisor, Anthony Barclay, Executive Director Peter Larose, Seychelles President James Michel and WB Executive Director, Denny Kalyalya, State House 21 January 2014 (Mervyn Marie, Seychelles News Agency) 

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(Seychelles News Agency) - The World Bank regional executive director for Africa Group 1 Dr. Denny Kalyalya has said that the Seychelles economy is doing well and should serve as a model for other African countries, at a news conference this morning.

“There is a lot of development going on in Seychelles. The local economy is doing well compared to many other countries which are facing major problems such as unemployment. Seychelles is not in this situation and I commend the Seychellois authorities for the good work done. Seychelles is a high middle income country, the highest in our constituency. So you have a lot to teach to other countries, especially those which have gone through financial reforms,” said Kalyalya following a meeting with Seychelles President James Michel at State House.

Kalyalya is visiting the country after his election to the post of Executive Director, representing 22 countries of Africa, including Seychelles.

He said that the World Bank would to increase support for Seychelles for technical expertise in various sectors as well as enabling access to climate change mitigation funds for Small Island Developing States.

Dr. Denny Kalyalya will represent Seychelles on the Board of the World Bank, until October this year, when Dr. Peter Larose, a Seychellois national, takes over this office.

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