IMF EXECUTIVE DIRECTOR CALLS ON PRESIDENT FAURE

VICTORIA – President DANNY FAURE of SEYCHELLES has met with the IMF Executive Director for the ASIA and PACIFIC constituencies and small island states.

State radio, SBC News says HEENAM CHOI has paid a courtesy call on President FAURE at State House in the capital, VICTORIA.

It says discussions between the Head of State and the IMF boss have touched on ways to ensure equal distribution of the national wealth to the population.

They have also talked about means by which the IMF can help SEYCHELLES regarding the issue of de-risking, amid reports saying international banks are cutting off their correspondent relationships with the SADC country.

Economic experts say de-risking, especially in a business context, means taking steps to make something less risky or less likely to involve a financial loss.

Mr CHOI has emphasised on the importance for countries to have sound and regulatory systems on anti-money laundering and safety issues, which he says might be ONE of the major IMF roles.

He says the SECOND role the world body can play is to strengthen dialogue with international rule setters like the EIS and the FSB.

The IMF Executive Director for the ASIA and PACIFIC constituencies and small island states says through dialogues, like the one he has held with the SEYCHELLES Leader, the IMF raises the de-risking issues.