## Seychelles: Third Review under the Extended Arrangement, Request for Modification of Performance Criteria, Financing Assurances Review: Staff Report; Press Release on the Executive Board Discussion

_IMF Staff Country Reports, June 14, 2011_

## Source details

**Canonical URL:** [Seychelles: Third Review under the Extended Arrangement, Request for Modification of Performance Criteria, Financing Assurances Review: Staff Report; Press Release on the Executive Board Discussion](https://www.imf.org/en/publications/cr/issues/2016/12/31/seychelles-third-review-under-the-extended-arrangement-request-for-modification-of-24926)

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## Bibliographic details
- Published: June 14, 2011
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455280568.002

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### Economic recovery and macroeconomic outcomes
- Seychelles's economy has recovered strongly from the debt crisis and global recession, owing to high foreign direct investment and a rebound in tourism.
- Inflation remained near zero.
- The country continued to rebuild its international reserves and reduce public debt.

### 2011 program adjustments and shocks
- In 2011, the policy mix under the economic program supported by the Extended Fund Facility has been adjusted in response to global commodity price shocks and financial difficulties of Air Seychelles.
- Structural reforms will focus on:
  - strengthening the financial sector
  - restructuring of state-owned financial institutions

### Subjects and keywords (as listed)
- Subjects: Arrears, Central banks, External debt, International reserves, Monetary base, Money, Public debt
- Keywords: Arrears, balance of payments crisis, cash infusion, CR, crisis, disbursement of SDR, economy, financial situation, Global, International reserves, ISCR, Monetary base, public finance, Seychelles economy

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/seychelles-third-review-under-the-extended-arrangement-request-for-modification-of-24926_