Returning from an annual meeting with the International Monetary Fund and the World Bank, the Seychelles' Minister for Economic Planning & Employment, Jacquelin Dugasse, indicated that a broad consensus had been reached on the country's economic reform plans, although differences remain on the desired pace of change.
"I think there is a consensus that we can go fast on certain issues, but on certain issues we have to move cautiously," Dugasse told reporters on Wednesday after last month's meetings in Washington.
One sticking point, according to Dugasse, was the IMF's insistence that the Seychelles proceed with its programme of privatisation.
"We don't believe this would be in the interest of Seychelles, because if we were to privatise everything tomorrow the minute we start privatising the loss of employment is inevitable," the minister stated.
The Seychelles has also been holding discussions with the African Development Bank (ADB) on the issue of a non-performing loan and agreed a formula to pay off the loan over time.
However, most of the country's debt with sovereign partners has been frozen as a result of a one-year moratorium announced by the Paris Club for countries affected by 2004 tsunami, Dugasse explained.
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