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President Michel congratulates Christine Lagarde as new IMF Chief

President Michel congratulates Christine Lagarde as new IMF Chief ( Seychelles President James A. Michel has sent a congratulatory message to Ms. Christine Lagarde upon confirmation of her appointment as the new Managing Director of the International Monetary Fund (IMF). Before her appointment, Ms. Lagarde was formerly France's economy and finance minister since June 2007.

“In this time of many challenges for the world economy, this appointment is testimony to the confidence the nations of the world have endowed in your abilities. … We note with satisfaction that your appointment marks the first time that the IMF is led by a woman, and we are pleased that an institution of such high importance is setting the standard for gender equality," said President Michel.

President Michel said that one of the most important issues that the world financial system faces is the threat of climate change, which poses a critical risk to the productive capacities particularly for small island developing states like Seychelles.

“Your experiences have demonstrated your personal strength and determination to bring about a more conducive environment for sustainable development in the world economy. … As a Small Island Developing State (SIDS), which is currently implementing an IMF macro-economic support program and also positioning itself for WTO membership, we are appreciative of the flexibility and responsiveness of the IMF with regards to Seychelles' specificities," President Michel continued.

In his letter, President Michel stated his confidence in the continued support of the IMF to ensure that environmental sustainability and climate change adaptation are mainstreamed into macro-economic planning for the world economy.

“We thank you for your support for the development of small economies such as ours and are convinced that under your leadership, the IMF is well placed to deal with the challenges it currently faces to ensure stability and growth in the global economy," the Seychelles President concluded.

MEDIA CONTACT: Alain St. Ange, CEO, Seychelles Tourism Board, Email:

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