This country has played a key role in the running of the World Bank and is about to do more when Seychellois Dr Peter Larose assumes key positions in its ranks later this year.

The bank’s executive director Dr Hassan Taha said this when he paid a farewell call on President James Michel yesterday.
Dr Taha was accompanied by Dr Larose, who is at the moment a senior advisor to the executive director, the Minister for Finance, Investment and Trade Pierre Laporte, and the governor of the Central Bank, Caroline Abel.

He said Dr Larose will become an alternate executive director to represent the African constituency and also take over as an executive director to represent Seychelles and 20 other African countries on the board of directors, a rank due to be confirmed during the bank’s meeting scheduled to take place on  October 12 in Tokyo.

He described him as a person of high calibre who has a lot of experience having been an adviser.
Dr Taha also commended Seychelles government’s success in the economic reforms President Michel launched in 2008.

He said his two-year term in office has been one of great achievement not only for Seychelles but for many other African countries whereby he has been able to witness great cooperation between the International Monetary Fund (IMF) and the World Bank, noting our reform programme has led to this country’s accelerated progress.

“It was an honour to represent Seychelles and I thanked President Michel for the support, trust and guidance he has given me to serve on the board of directors... Seychelles has really played an important role in creating the constituency that I have represented,” said Dr Taha.

He said that the World Bank will continue to give the financial support to the Seychelles as well as technical assistance so that it may continue with the reform programme of its economy.

Dr Hassan will be succeeded by Dr Denny Kalyalya, previously the deputy governor of the Central Bank of Zambia.

President Michel thanked Dr Taha for his support and the effort he has personally made during his mandate, particularly during our economic reform programme.

“The government of Seychelles needs the continuous support of the World Bank in implementing its reform programme, bearing in mind the specificities of the small island states, which are vulnerable to shocks from the world economy,” he said.

“With the support of the World Bank we will continue to build a strong and resilient economy on the foundations of democracy and good governance. We are thankful for your support and I wish you well in your future endeavours,” Mr Michel told him.

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