VICTORIA, Seychelles — The Republic of Seychelles and the Paris Club have signed an agreement on the restructuring of the country’s external debt, in a move described by both sides as a further strengthening of the long-standing partnership between Seychelles and the club. The agreement was signed in Paris on Thursday.
A spokesperson for the Paris Club said the agreement reflects the enduring partnership between the two sides and provides a sustainable framework for the management of Seychelles’ external debt. The restructuring covers a range of bilateral claims and is designed to support the country’s fiscal position while preserving its access to international capital markets.
The Seychelles government, in a statement, said the agreement is expected to deliver positive environmental and climate outcomes, given that a portion of the savings will be ringfenced for projects related to marine resource management, ocean conservation, and the fight against climate change. The government said it would continue to work with the Paris Club and other international partners to ensure that the benefits of the agreement are felt across the economy, and that the savings are channelled into projects that support the country’s sustainable development objectives.
