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Seychelles leader rejects IMF prescriptions.
Saint Denis, Reunion (PANA) - President of Seychelles Albert Rene, has rejected recommendations by the International Monetary Fund (IMF), saying they could "cripple" his country.
In his State of the Nation address to Parliament, reported Thursday by the official daily "Seychelles Nation," he cited the ineffectiveness of IMF prescriptions in resolving the socio-economic crises in Argentina and Indonesia.
Rene also said liberalisation of imports of products suggested by the opposition, would lead to closure of many factories in Seychelles.
"As soon as we liberalise our economy, we will put all our farmers and meat producers in danger. They will never survive the price competition from other countries. Most of our factories will close down for the same reasons. And then we will know the full meaning ...
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