Seychelles: Third Review under the Extended Arrangement, Request for Modification of Performance Criteria, Financing Assurances Review: Staff Report; Press Release on the Executive Board Discussion.
June 14, 2011
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Seychelles's economy has recovered strongly from the debt crisis and global recession, owing to high foreign direct investment and a rebound in tourism. Inflation remained near zero, and the country continued to rebuild its international reserves and reduce public debt. In 2011, the policy mix under the economic program supported by the Extended Fund Facility has been adjusted in response to global commodity price shocks and financial difficulties of Air Seychelles. Structural reforms will focus on strengthening the financial sector and restructuring of state-owned financial institutions.
Subject: Arrears, Central banks, External debt, International reserves, Monetary base, Money, Public debt
Keywords: Arrears, balance of payments crisis, cash infusion, CR, crisis, disbursement of SDR, economy, financial situation, Global, International reserves, ISCR, Monetary base, public finance, Seychelles economy
Pages:
53
Volume:
2011
DOI:
Issue:
134
Series:
Country Report No. 2011/134
Stock No:
1SYCEA2011003
ISBN:
9781455280568
ISSN:
1934-7685
