Seychelles: 2022 Article IV Consultation, Second Review Under the Extended Fund Facility Arrangement, and Request for Modification of Performance Criteria and Indicative Targets-Press Release; Staff Report; and Statement by the Executive Director for Seychelles
IMF Staff Country Reports, July 26, 2022
Source details
- Canonical URL
- Seychelles: 2022 Article IV Consultation, Second Review Under the Extended Fund Facility Arrangement, and Request for Modification of Performance Criteria and Indicative Targets-Press Release; Staff Report; and Statement by the Executive Director for Seychelles
Other formats
Bibliographic details
- Published: July 26, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400216367.002
Publication snapshot
- Publication date: July 26, 2022
- Pages: 102
- Volume: 2022
- Issue: 249
- Series: Country Report No. 2022/249
- DOI: https://doi.org/10.5089/9798400216367.002
- Stock No: 1SYCEA2022003
- ISBN: 9798400216367
- ISSN: 1934-7685
- Subject tags: Economic sectors; Expenditure; International organization; Monetary policy; Money; National accounts; Public debt
- Keywords: Africa; emergency expenditure; Global; government finance statistics manual; government operation; Monetary base; only authority; policy commitment; Policy recommendation; Seychellois authorities; Tourism
Executive summary and recent performance
- Seychelles’ economic recovery in 2021 vastly outperformed projections, fueled by a faster-than-expected rebound of the tourism sector.
- Monetary policy remains appropriately accommodative.
- The authorities are committed to closely monitoring inflationary pressures.
- The country remains vulnerable to climate change.
Fiscal and debt posture
- The authorities are committed to reducing debt vulnerabilities and creating fiscal space to address future risks.
Structural reform agenda
- The structural reform agenda will continue to focus on:
- revenue administration,
- public financial management,
- governance, including digitalization,
- state-owned-enterprise reform,
- climate change adaptation and mitigation policies.
Policy stance and commitments
- Monetary policy: appropriately accommodative with close monitoring of inflationary pressures.
- Fiscal policy: emphasis on reducing debt vulnerabilities and creating fiscal space for future risks.
- Structural reforms prioritized to strengthen revenue mobilization, public financial management, governance, and climate resilience.
International Monetary Fund. Seychelles: 2022 Article IV Consultation, Second Review Under the Extended Fund Facility Arrangement, and Request for Modification of Performance Criteria and Indicative Targets - Press Release; Staff Report; and Statement by the Executive Director for Seychelles (July 26, 2022).
Content in this bundle
- 1sycea2022003