The Global Business Forum of Africa saw President of Seychelles Danny Faure sharing details of the programmes that are driving the economy of the nation.
In November 2008, Seychelles embarked on a macroeconomic reform programme to address some external debt difficulties and requested the assistance of the International Monetary Fund to help its domestic economy.
President Faure said that the nation has put in place a strong macroeconomic framework that has helped them reaching their current situation, giving them a solid economic and financial base to enter the next decade.
The small island nation has proven to be a strong leader in maritime security and the Blue economy. The World Bank gave Seychelles their support to issue the first Blue Bonds in support of sustainable fisheries.
“Maritime security is an extremely important component of the sustainable development of the ocean economy”, said President Faure at last month’s ocean conference. He also added that one of the expected results of the blue economy strategy would be greater protection for Seychelles ‘ocean space.
The president told delegates at the Forum that transparency, accountability and good governance and the building of strong institutions will be the key to meet the challenges that are facing. He also believes that a new alliance and stronger partnership between governments and private sector will allow Africa to use the opportunities created by new technologies to improve its citizens’ quality of life.
