IMF Staff Concludes Visit to Seychelles

IMF News, November 11, 2025

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IMF staff team led by Mr. Todd Schneider visited Victoria, Seychelles from November 3-10, 2025.
Visit was part of the Fund’s regular engagement with the Seychellois authorities and other stakeholders.
Press Release No. 25/366; End-of-Mission press release dated November 11, 2025.
The views expressed are those of IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion.
IMF Communications Department point of contact: PRESS OFFICER: Rahim Kanani; Phone: +1 202 623-7100; Email: MEDIA@IMF.org.

Strong tourist activity is expected to raise real GDP growth above 4 percent in 2025, with total arrivals expected to exceed the record level set in 2019.
Headline inflation has remained low at 0.3 percent through October.
Low food and fuel prices combined with a relatively stable rupee vis-à-vis the dollar will likely keep inflation contained.
The external current account deficit is projected to fall to about 5 percent of GDP in 2025, compared to a deficit of 8 percent in 2024.
The rise in tourist income has strengthened the balance of payments in 2025.

Gross foreign exchange reserves rose to $878 million in November, equivalent to about 4 months of goods and services imports.
The Central Bank of Seychelles has increased its buffer of foreign exchange reserves to over $870 million, in line with IMF advice.
Discussions included the monetary policy stance and financial sector supervision.

Discussions centered on economic elements of the new government’s 100-day agenda and the outlook for the 2026 budget.
Medium-term reforms reviewed to sustain inclusive economic growth and achieve the government’s objective of lowering the ratio of public debt to GDP.
IMF staff and Seychellois authorities exchanged views on recent economic developments and assessed new initiatives under the government’s 100-day agenda.

An IMF staff team is expected to return to Victoria in the first part of 2026 to conduct the fifth and sixth reviews under the programs supported by the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF).
IMF staff met with the Minister of Finance, Economic Planning, Trade, and Investment, Mr. Pierre Laporte, the Honorable Caroline Abel, Governor of the Central Bank of Seychelles, and their respective teams, as well as other stakeholders.

IMF staff end-of-mission press release (Press Release No. 25/366), November 11, 2025.