Seychelles: Sixth Review Under the Extended Arrangement and Request for an Extension of the Arrangement and Augmentation of Access—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Seychelles.
January 30, 2013
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Resilient growth is observed in 2012 in Seychelles. Weakness in tourism has been offset by increases from less-traditional markets. The current account and adjustments has administered prices in the second half of 2011, and a cycle of depreciation and inflation ensued. The fiscal accounts suffered in the first half of 2012 from the restructuring arrangement for Air Seychelles. The banking system remains solid and continues to maintain healthy capital adequacy ratios. Despite strong program performance, Seychelles remains highly vulnerable to external shocks.
Subject: Currency markets, Debt sustainability analysis, External debt, Financial markets, Foreign exchange, Public debt
Keywords: balance of payments pressure, CR, Currency markets, debt, Debt sustainability analysis, debt target, deficit, disbursement of SDR, Europe, Global, ISCR, Middle East, price adjustment mechanism, real GDP, Seychelles economy
Pages:
55
Volume:
2013
DOI:
Issue:
024
Series:
Country Report No. 2013/024
Stock No:
1SYCEA2013001
ISBN:
9781475567601
ISSN:
1934-7685
