Seychelles’ economic success since it launched its reform programme has raised the hopes of other small states that they can achieve similar results.

This was said by a Caribbean finance minister during the Small States Forum held in Washington DC at the weekend, when Vice-President Danny Faure gave a keynote presentation on progress in Seychelles since the reforms began in November 2008.
 
At Saturday’s meeting, attended by World Bank president Robert Zoellick, Mr Faure thanked the international community for supporting Seychelles during the ongoing economic reform.

He said other governments have shown an interest in Seychelles’ determination, economic programme and the strategy used to tackle the country’s external debt.

The Finance and Economy Minister from Antigua and Barbuda, Harold Lovell, said during the plenary session: “The Seychelles case, where massive macro-economic reforms were undertaken without doing irreparable damage to social gains achieved, gives inspiration to a lot of our fellow small countries.

“I want to tell the Vice-President that the results achieved in Seychelles give me hope and encouragement that it is possible to preserve social gains while putting their country’s economy on a sustainable path.” 

The Small States Forum comprises 48 countries that are members of the World Bank and mostly have populations of less than 1.5 million each.

They share common challenges associated with small populations and economies – difficulties of scale, capacity and institutional constraints, open economies that are unable easily to diversify, remoteness and high transport costs, and susceptibility to natural disasters. 

They had gathered to discuss development prospects in the context of the current economic environment and emerging global issues such as climate change, and food and energy security. 

 

Forrás: http://www.nation.sc/