On the morning of Monday 31st March 2025, the Governor of the Central Bank of Seychelles (CBS) Ms. Caroline Abel presented the CBS Annual Report 2024, International Reserves Management Report 2024, and the CBS Financial Statements 2024, to the Speaker of the National Assembly Hon. Roger Mancienne. Governor Abel was accompanied by Second Deputy Governor Mr. Mike Tirant, and Communications Officer Mrs. Stephanie Morel.
The presentation began with a brief explanation of each report, with the Governor emphasising that each report is produced and aligned with national and international standards, such as those required by the International Monetary Fund (IMF). The CBS Annual Report serves as a general update and guide on the strategic direction of the Central Bank itself, as well as monetary policies designed to uphold and sustain the economic development of the country. The Hon. Speaker inquired into the availability of such information, and the importance of public awareness when sensitizing the population on complex and technical knowledge. The Governor confirmed that all reports and other valuable information is available online via the CBS website, as well as confirming sensitisation efforts through collaboration with entities such as the Fair Trading Commission (FTC).
Hon. Mancienne then inquired about the ongoing challenges faced by CBS. It was noted that a major issue faced is the recruitment of skilled workers to fill existing gaps; the Governor noted that there is a pressing need for young, talented Seychellois to enter the field and develop sustainable careers. With the increasing modernisation of the global economy, the financial sector of Seychelles is simultaneously evolving to meet new regulations and requirements. The Governor affirmed that decisions and legislations being drafted currently are part of a long-term strategy to meet the developing needs of the country. This includes the phasing out of personal cheques, as a response to the increasing digitalisation of financial services.
The fruitful discussion then concluded, with the Hon. Speaker extending his thanks to the Governor and CBS delegation for the presentation.
