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International Monetary Fund (IMF) Staff Reaches Staff-Level Agreement on the Second Reviews Under the Extended Fund Facility (EFF) Arrangement and the Resilience and Sustainability Facility (RSF) with Seychelles and Completes 2024 Article IV Mission

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The Seychellois economy continued to recover in 2023 and is moving closer to pre-pandemic norms despite external shocks and a complex disaster from flooding and an industrial explosion; The government made good progress in implementing the EFF and RSF—meeting almost all quantitative targets under the program and making notable progress on macro-structural benchmarks and climate related reform measures; Seychelles’ economic outlook is generally positive. However, given its high vulnerability to external shocks and climate change, continued efforts to reduce public debt, rebuild fiscal and external buffers, bolster the efficiency of public spending, and ensure support for the most vulnerable segments of the population are critical.

An International Monetary Fund (IMF) team led by Mr. Todd Schneider visited Victoria from March 21-April 3, 2024, to conduct discussions on the second reviews of Seychelles’ economic and financial program supported by the Extended Fund Facility (EFF) Arrangement and the Resilience and Sustainability Facility (RSF). The team met with the authorities and private sector representatives for the 2024 Article IV consultation.

At the end of the mission, Mr. Schneider issued the following statement:

“Following a post-pandemic surge in economic activity in 2022, real GDP growth slowed to an estimated 3.2 percent in 2023, despite a continued increase in tourism activity, with visitor arrivals reaching a level equivalent to over 91 percent of the pre-pandemic high and tourism earnings continuing to rise. Real GDP growth is expected to reach about 3.7 percent in 2024 on the back of a continued increase in visitor arrivals together with buoyant activity in IT, construction, and the financial sector. This outlook incorporates some drag on activity linked to the impact of the December 2023 flooding and explosion at Providence Industrial Estates.

“Year-on-year headline inflation entered negative territory in May 2023 and fell to a low of -2.7 percent in December. The steepest declines were in housing, electricity, and utilities (-5.3 percent). Significant decreases were also seen in transport and food, reflecting the pass-through of lower imported food and fuel prices and appreciation of the exchange rate. Year-over-year inflation is expected to rise to 1.6 percent in 2024, largely on the back of increases in utility prices.

“The government achieved a primary fiscal surplus of 1.7 percent of GDP in 2023. This was an over-performance relative to the EFF program target. Underspending on both recurrent and capital budget lines more than offset lower-than-expected revenues. While the fiscal position was moderately tighter than might be desired, the fiscal surplus contributed to a further decline in public and publicly guaranteed debt to 58.5 percent of GDP at end-2023.

“The external current account deficit is estimated to have widened slightly to around 7.2 percent of GDP in 2023, partly reflecting higher imports related to foreign direct investment (FDI). The Central Bank of Seychelles (CBS) overperformed modestly with respect to targets for foreign exchange reserves accumulation under the EFF program. Gross reserves stood at about $682 million at end-2023, equivalent to about 3.2 months of import cover.

“The CBS maintained the monetary policy rate at 2 percent during 2023. Given lower-than-projected growth, disinflation, and the rise in real interest rates, the mission sees the recent decision to lower the policy rate in March 2024 as appropriate. The CBS has also moved to increase absorption of domestic liquidity with a view to enhancing the effectiveness of monetary policy and is closely monitoring financial sector soundness.

“The government has made strong progress in implementing the IMF-supported programs. All but one of the quantitative targets under the program were met (a slight underperformance on the revenue target). The EFF structural reform agenda continues to move ahead, albeit with some technical delays. The reform measure linked to the second review under the RSF (cabinet approval of draft building legislation integrating climate adaptation and mitigation aspects) has been completed.

“While the outlook remains positive and risks are roughly balanced, the Seychellois economy remains highly vulnerable to external shocks and climate change in the medium- to long-term. Downside risks to the outlook include potential upward pressure on commodity and transport prices from the conflict in Israel and Gaza, continued attacks in the Red Sea, the ongoing war in Ukraine, and continued vulnerability to climate-related shocks. Maintaining the buildup of fiscal and external buffers remains critical in the current global environment and requires the continuation of prudent macroeconomic policies and the safeguarding of international reserves.

“The team thanks the Seychellois authorities for their close collaboration as well as frank and open exchange during the discussions.  Meetings were held with President Ramkalawan, Minister of Finance, National Planning and Trade Hassan, Governor of the Central Bank of Seychelles Abel, other senior government officials, and representatives of the private sector.”

Distributed by APO Group on behalf of International Monetary Fund (IMF).

Sierra Leone’s President Julius Maada Bio Joins Colleague Heads of State at the Swearing-in Ceremony of Senegal’s President Bassirou Diomaye Faye

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His Excellency President Dr Julius Maada Bio has joined more than fifteen African Heads of State and Government, other leaders to grace the swearing-in ceremony of His Excellency Bassirou Diomaye Faye, President of the Republic of Senegal.

President of the Constitutional Council of Senegal, Mamadou Badio Camara, while leading the process at the Diamniadio Exhibition Centre, a few miles from the capital Dakar, reminded the audience that the electoral process that ushered in the new president was widely described as transparent, credible and peaceful.

He said the results reflected the will of the voters, a fundamental expression of their constitutional rights. He added that as per the Senegalese constitution, guests were gathered to witness the swearing-in ceremony of the president in order that he had the constitutional mandate to take over the leadership of the country.

His Excellency President Bassirou Diomaye Faye, while welcoming his colleagues, thanked voters and citizens of Senegal for their overwhelming votes.

He said the election results were a reflection of peace, justice, development, and progress for both Senegal and Africa. He assured to improve the economic and social stability of his country. He committed to working towards having an independent judiciary as well as justice for all Senegalese.

President Faye called for national cohesion and promised to unite the country among ethnic and religious bodies.

Distributed by APO Group on behalf of State House Sierra Leone.

Seychelles and Netherlands commit to continue building on areas of mutual concern

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The Ambassador of the Kingdom of the Netherlands to the Republic of Seychelles, H.E Mr. Maarten Adriaan Brouwer paid a farewell call on the Principal Secretary for Foreign Affairs, Vivianne Fock Tave at Maison Queau De Quinssy on Tuesday 02 April 2024.

Principal Secretary Fock Tave thanked Ambassador Brauwer for the Netherlands support, especially through its engagement in EU-NAVFOR Operation Atalanta with regards to maritime security in our region.

Other on-going cooperation were discussed such as capacity building through the Clingendael Institute in The Hague, collaboration in the fields of agriculture, tourism, education and the possible visit of a delegation from the Netherlands in the near future for a workshop and training in regards to the seizure of crypto currency.

The meeting also discussed various global issues impacting the world at the moment.

Distributed by APO Group on behalf of Ministry of Foreign Affairs and Tourism – Foreign Affairs Department, Republic of Seychelles.

South Africa: Health on commemorating World Autism Day

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World Autism Awareness Day – 02 April

The Department of Health calls on families and communities to support people with autism spectrum disorder (ASD) otherwise known as autism in order to thrive and reach their full potential, and not to discriminate them.

Autistic individuals as well as their parents and caregivers often face many challenges, but these do not have to define them because they have the same health needs and rights as the general population. They may in addition, have specific health-care needs related to autism or other co-occurring conditions requiring attention, support, and care.

All people, including those with autism, have the right to the enjoyment of the highest attainable standard of physical and mental health. However, autistic people are often subjected to stigma and discrimination, including unjust deprivation of care, education, and opportunities to engage and participate in their communities. 

They have unique physical, social, mental health-care and educational needs as a result of their conditions which require strong collaborative efforts with other government departments such as Basic Education and Social Development for the provision of all-inclusive basket of services for early detection and intervention of ASD to improve their overall health outcomes and lessen long-term suffering and costs of care. 

South Africa will on Tuesday, 2 April join the global community to increase awareness about autism, as well as how we can support autistic people in society.

The awareness day is used as a platform to empower the public, health and welfare services providers with information and also dispel misconceptions and promote a deeper understanding of autism to help reduce stigma and discrimination through fostering a more inclusive environment for autistic persons and their families.

According to the World Health Organization, about 1 in every 100 children globally has autism. In South Africa, the local studies have found the prevalence of autism to be between 0.08% to 2%. This condition is mainly found to be more prevalent in males than females.

 Autism can be a life-long condition, but through appropriate and tailored support, children and adults with autism can make significant progress and live fulfilling lives.

The use of standardised ASD screening and diagnostic tools is well-established in high-income countries. Developmental milestones screening is one of the key interventions to early detect disorders like ASDs and intervene early as studies have shown that the median age of diagnosis of these conditions is between 18 to 24 months. In South Africa, the Road to Health Booklet or Clinic Card that issued to all children at birth helps parents to monitor health and development of each child until the age of 5 years. This also assists in early identification and intervention when a child’s development is not in line with the expected developmental milestones. 

Early diagnosis and intervention of autism can significantly impact the child’s development and help families understand their child’s strengths and challenges and create a personalised treatment and support plan. Thus, parents are encouraged to familiarise themselves with the educational information contained in the Clinic Card.

Although, there is no cure for autism spectrum disorders, some medications are used to help people with ASD function better by treating co-occurring symptoms such as high energy levels, inability to focus, or self-harming behaviour including head banging or hand biting. Treatment can also help manage co-occurring mental health problems, such as anxiety or depression, and physical conditions such as seizures, sleep problems.

If you suspect that you or your family member or child may be having autism spectrum disorder, visit your nearest health care facility or provider for screening and assessment to enable them to provide the necessary interventions, or refer where necessary.

Symptoms and causes of autism may differ from child to child, but some common symptoms include difficulty with social interactions, delayed speech and language skills, repetitive behaviours. Autism is primarily caused by nature (a genetic disorder), but the severity of autism can be influenced by nurture (environmental factors).

Care for people with autism needs to be accompanied by actions at family, community and societal levels for greater accessibility, inclusivity, and support, hence it is important to empower communities including health workers, educators and employers with knowledge and information about the conditions to ensure tolerance, support and acceptance of autistic individuals.

Distributed by APO Group on behalf of Republic of South Africa: Department of Health.