Seychelles: Fifth Review Under the Extended Arrangement, Request for Modification of Performance Criteria, and Financing Assurances Review: Staff Report; Press Release on the completion of the Review

IMF Staff Country Reports, September 6, 2012

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Canonical URL: Seychelles: Fifth Review Under the Extended Arrangement, Request for Modification of Performance Criteria, and Financing Assurances Review: Staff Report; Press Release on the completion of the Review

This paper is an account of Seychelles’ monetary efforts to establish its position in 2012.
After the recovery in 2008, the country had solid growth through 2011.
The important threat was external risks, which could lower tourist inflows, and piracy.
Authorities were vigilant and organized the state by strengthening state enterprises, introducing new reforms to eradicate obstacles to the private sector, and the increasing bills for monetary purposes.
The Executive Board acknowledges that these policies enhanced a positive outlook for the country.

Solid growth recorded through 2011 following the 2008 recovery.
Principal external risks identified:
- Lower tourist inflows.
- Piracy.
Inflation and monetary indicators referenced in subject and keywords:
- consumer price inflation
- Monetary base
- inflation pressure
- foreign currency

State organization measures:
- Strengthening state enterprises.
- Introducing new reforms to eradicate obstacles to the private sector.
Fiscal and monetary policy areas cited:
- Expenditure
- External debt
- Fiscal policy
- Fiscal stance
- Money
- Public debt
- Public enterprises
Specific policy-related keywords present:
- disbursement of SDR
- implementation
- ISCR
- tariff reform
- utility tariff
- public finance

The Executive Board acknowledges that the authorities’ policies enhanced a positive outlook for the country.