## 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_

## Source details

**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](https://www.imf.org/en/publications/cr/issues/2016/12/31/seychelles-fifth-review-under-the-extended-arrangement-request-for-modification-of-26243)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/seychelles-fifth-review-under-the-extended-arrangement-request-for-modification-of-26243/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/seychelles-fifth-review-under-the-extended-arrangement-request-for-modification-of-26243/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/seychelles-fifth-review-under-the-extended-arrangement-request-for-modification-of-26243/bundle-manifest.json)

## Bibliographic details
- Published: September 6, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475510430.002

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### Summary
- 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.

### Economic performance and external risks
- 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

### Policy actions, reforms, and institutional measures
- 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

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

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## Content in this bundle

- **_cr12260**
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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/seychelles-fifth-review-under-the-extended-arrangement-request-for-modification-of-26243_