President Wavel Ramkalawan formally received a copy of the Central Bank of Seychelles’ Annual Report for the year 2021 during a courtesy call by the Governor of the Central Bank, held at State House yesterday afternoon. This is in accordance with Section 47 (4) of the Central Bank of Seychelles Act 2004.

Presented along with the Annual Report were also the Financial Statements for the year ending December 31, 2021, as well as the International Reserves Management Report 2021.

The meeting with the Governor was an opportunity for President Ramkalawan to commend and convey his appreciation to the CBS team for their hard work and commitment through one of the toughest global financial crisis.

“On behalf of the people of Seychelles I wish to commend you as Governor and your team for the excellent management and dedication to stay on track regardless of tough decisions. Together as a team, the Central Bank has steered us in the right direction. So today we say thank you for your hard work," said President Ramkalawan.

The President described the CBS as one of the strongest institutions in the country, which has been exemplary in executing its mandate.

The report presented articulates what has happened in the economy domestically as well as also how external events are affecting the domestic economy.

How world events can affect Seychelles significantly formed part of the discussion between the President and the Governor, to see where the Government can further improve the resilience of the country in light of international events. There, they discussed how recent events mainly the Ukraine-Russia crisis is affecting the world economic landscape and given that Seychelles is dependent on the world for trade. The meeting was an opportunity to discuss how this is affecting Seychelles mostly through high prices of commodities and the movement of goods.