Present Economic Management in Seychelles - Dissertation Example

This conclusion is that the country is at a point in its economic management where needs to be an urgent intervention to savage it from further deterioration. Presently, the debt to Gross Domestic Product for Seychelles stands at 160% (Advisory Group, 2001). This is an exorbitant value that indicts the possibility of the country becoming totally classified as economically independent. What is even more disturbing is the fact that Seychelles is a country of barely two million people. The attempts made by international bodies such as the World Bank and United Human Development in consultation with the government to undertake reforms in the public sector to curb the current problems would therefore be described as a step in the right direction.

However, the current problem has gone beyond the use of paperwork policies. It is therefore high time the country adapted a comprehensive model in savaging the situation other than the value for money code policy currently in use.

5.1.2 Value for Money Code policy for Seychelles
5.1.2.1 Legal dimension
As a first step towards the mitigation of massive waste in the public sector, which has led to the existence of the current huge debt to GDP, Seychelles has adopted the use of value for money code policy. . In Seychelles where this research is being focused on, the President Representative reports of proofs of how several projects that were started have been left to be white elephants.

There is therefore a legal mandate for the government to ensure that certain red flags that predict ineffectiveness and inefficiencies with the procurement processes are blocked. There must also be a review of the mandate of the various ministries in Seychelles. This would ensure that some of the powers and autonomies have been given to the ministries as members of the executive arm of government in manipulating the flow and assignment of projects are curtailed. In most modern economies, a chunk of the blame for mismanagement is directed at the executive arm of government (Aicken and McCrae, 1992a).

It is often thought that the executive arm of government is too powerful and manipulates other arms of government like the judiciary and legislature. Should there be a generalized autonomy of the various arms, therefore, some of these irregularities will be corrected?

5.1.2.2 Political dimension
From a political dimension, there cannot be any better conclusion drawn for the government of Seychelles to follow than for it to check its transparency policies. This should apply to both the public and private sectors but with particular emphasis on the public sector.

According to the literature review and views from respondents who answered the interview, access to information and freedom to the flow of information is the most viable means of ensuring transparency in the public. In this regard, the media has been identified as very good agents for policing and interrogating all policies and programs carried out in the public sector.