Seychelles : 2013 Article IV Consultation, Seventh Review Under the Extended Arrangement and Request for Modification of Performance Criterion

 
 
Publication Date: July 11, 2013
 
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Summary: This staff report discusses Seychelles 2013 Article IV Consultation, Seventh Review Under the Extended Arrangement and Request for Modification of Performance Criterion. The repayment of domestic debt, a preference for foreign financing, and shallow domestic financial markets have resulted in significant structural rupee liquidity in the banking system. Tourism has been the main driver of growth, but there is a tension with the number of tourists the islands can absorb. Despite the challenging global environment, tourist arrivals have grown strongly, with diversification toward nontraditional markets more than offsetting stalling European arrivals. The Seychellois rupee is broadly in line with medium-term fundamentals, and tourism remains competitive among peers.
 
Series: Country Report No. 13/202
Subject(s): Article IV consultation reports | Extended arrangement reviews | Economic growth | Fiscal policy | Debt restructuring | Fiscal reforms | Monetary policy | Floating exchange rates | Economic indicators | Extended arrangement requests | Staff Reports | Press releases | Performance criteria waivers | Seychelles

 
English
Publication Date: July 11, 2013
ISBN/ISSN: 9781484384404/1934-7685 Format: Paper
Stock No: 1SYCEA2013002 Pages: 83
Price:
US$18.00 (Academic Rate:
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