This web page provides information on the activities of the IMF office in Seychelles, views of the IMF staff, and the relations between Seychelles and the IMF. Additional information can be found on the Seychelles and IMF country page, including official IMF reports and Executive Board documents.
At A Glance
• Current IMF membership: 190 countries
• Seychelles joined the IMF on June 30, 1977
• Total Quotas: SDR 22.9 million
• Outstanding Purchases and Loans: 90.58 million (March 31, 2023)
• Article IV/Country Report July 26, 2022
Office Activites
-
Presentation of the April 2023 REO for Sub-Saharan Africa
The Resident Representative Office of the International Monetary Fund (IMF) in Seychelles has presented the April 2023 Regional Economic Outlook for Sub-Saharan Africa, on Wednesday June 21st at Maison de Mahé, Victoria. The presentation provided an opportunity to discuss the main findings of the report, namely the big funding squeeze which is afflicting the region. Present at the workshop were Officials from the Ministry of Finance, National Planning and Trade and the Central Bank of Seychelles.
June 21, 2023
Seychelles and the IMF
-
Seychelles Pioneers Novel Financing Instruments and Taps IMF Climate Facility
July 5, 2023
A biodiversity hotspot, the country is pursuing an ambitious plan to finance its climate change agenda.
-
June 28, 2023
Series:Country Report No. 2023/235
-
May 31, 2023
The new EFF for Seychelles will replace the EFF approved on July 29, 2021 (2021 EFF). Under the 2021 EFF arrangement, the authorities satisfactorily implemented policies to restore macroeconomic stability in the face of multiple shocks, including the COVID-19 pandemic disruptions. All quantitative targets through end-December 2022 were met and all but one structural benchmark were met or implemented with delay. The new EFF will build on progress made under the 2021 EFF to strengthen macroeconomic stability while emphasizing reforms to boost investments in human and physical capital to support inclusive growth. Efforts will also focus on strengthening fiscal and monetary policy frameworks.
-
Economic Growth in Sub-Saharan Africa Could Permanently Decline if Geopolitical Tensions Escalate
May 1, 2023
Countries will need to build resilience to manage the inevitable shifts in trade and foreign direct investment.
-
March 29, 2023
“The Seychellois authorities and an IMF staff team reached a staff-level agreement on policies and reforms under a new 36-month Extended Fund Facility arrangement and a Resilience and Sustainability Faciity program, with a requested access of 185 percent of quota under the EFF (SDR 42.36 million) and 150 percent of quota under the RSF (SDR 34.35 million). The new EFF would support the authorities in their efforts to build on the progress in macroeconomic, fiscal, and financial reforms started under the EFF that was approved in July 2021. The RSF financing will help the authorities advance their efforts in building resilience against climate change. The agreement is subject to approval by the IMF Management and Executive Board. Consideration by the Board is tentatively scheduled for May 2023.
Departmental Papers on Africa
Fraudulent Scam Emails
We would like to bring to the notice of the general public that several variants of financial scam letters purporting to be sanctioned by the International Monetary Fund (IMF) or authored by high ranking IMF officials are currently in circulation, and may appear on official letterhead containing the IMF logo. The scam letters instruct potential victims to contact the IMF for issuance of a “Certificate of International Capital Transfer” or other forms of approval, to enable them receives large sums of monies as beneficiaries. The contact e-mail information is always BOGUS and unsuspecting individuals are then requested to send their personal banking details which the scammers utilize for their fraudulent activities.For more information please see Fraudulent Scam Emails Using the Name of the IMF