Seychelles: Staff Report for the Eight Review Under the Extended Arrangement
IMF Staff Country Reports, January 31, 2014
Source details
- Canonical URL
- Seychelles: Staff Report for the Eight Review Under the Extended Arrangement
Other formats
Bibliographic details
- Published: January 31, 2014
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484399743.002
Executive summary
- On December 19, 2013, the Executive Board of the IMF completed the eighth and final review under the Extended Fund Facility (EFF) for Seychelles.
- The completion of the review enables a disbursement of SDR 3.3 million.
- Total disbursements under the arrangement will reach SDR 26.4 million.
- With the completion of this review, the EFF arrangement comes to an end.
- The program’s key objective of placing the economy firmly on the path to external and fiscal sustainability has been achieved, based on:
- the successful implementation of the debt restructuring,
- robust fiscal consolidation,
- the resumption of growth.
Key findings and outlook
- Strong policies have fostered economic growth, brightening Seychelles’ near-term outlook.
- The program achieved external and fiscal sustainability objectives through coordinated policy actions and debt operations.
Policy actions and structural measures
- Successful implementation of the debt restructuring.
- Robust fiscal consolidation measures implemented during the program.
- Policy stance and reforms supported the resumption of growth.
Subjects and thematic coverage
- Asset and liability management
- Banking
- Economic sectors
- Excess liquidity
- External debt
- Monetary base
- Money
- Public debt
- Public enterprises
Keywords and identifiers
- budget support
- CR
- current Extended Fund Facility
- EFF arrangement
- Europe
- Excess liquidity
- exchange rate
- Global
- ISCR
- Monetary base
- monetary policy
- near-term outlook
- Public enterprises
- reduction process
- SDR
- Seychelles authorities
- transmission mechanism