## IMF Staff Concludes Post-Financing Assessment Mission to Seychelles

_IMF News, September 29, 2026_

## Source details

**Canonical URL:** [IMF Staff Concludes Post-Financing Assessment Mission to Seychelles](https://www.imf.org/en/news/articles/2026/09/29/pr26310-seychelles-imf-staff-concludes-mission)

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## Bibliographic details
- Published: September 29, 2026

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### Mission overview
- An IMF staff team led by Todd Schneider visited Victoria from September 21-30 to conduct Seychelles’ Post-Financing Assessment (PFA).
- Press Release No. 26/310 dated September 29, 2026 conveys the IMF staff’s preliminary findings.
- Seychelles’ 2026 PFA is expected to be discussed at the IMF Executive Board in December 2026.

### Short-run growth and tourism impact
- The war in the Middle East has negatively affected tourist arrivals and growth in the short run.
- Tourist arrivals were reduced particularly during March-June; subsequent months show a nascent recovery.
- Real GDP growth projection for 2026: 1 percent.
- Real GDP growth in 2025: 5.8 percent.

### Inflation, subsidies, and state-owned enterprises (SOEs)
- Headline inflation remained moderate at 0.9 percent through August.
- Moderation in inflation reflects a subsidy through state owned enterprises (SOEs) to limit pass-through of rising international commodity prices to domestic markets.
- The cost of these subsidies has:
  - Deteriorated some SOE balance sheets.
  - Reduced dividend payments to the government budget.

### External sector and reserves
- The external sector has remained broadly stable despite the recent shock.
- The rupee has been broadly stable vis-à-vis the U.S. dollar.
- Central bank foreign exchange reserves remain at about 4 months of import cover.

### Financial sector resilience
- Stress on the financial sector appears to have been limited.

### Institutional note on the PFA
- A Post-Financing Assessment (PFA) is expected for countries with outstanding IMF credit above the absolute or quota-based thresholds that do not have an IMF-supported program or a staff-monitored program.
- The PFA reports on:
  - The members’ policies.
  - The consistency of the macroeconomic framework with the objective of medium-term viability.
  - The implications for the member’s capacity to repay the Fund.

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## References

- [PFA).](https://www.imf.org/en/about/factsheets/sheets/2023/post-financing-assessment-pfa)

_Source: https://www.imf.org/en/news/articles/2026/09/29/pr26310-seychelles-imf-staff-concludes-mission_