Seychelles: Fourth and Fifth Reviews Under the Extended Arrangement and Request for Modification and Waiver of Applicability of Performance Criteria — Press Release; Staff Report; and Statement by the Executive Director for Seychelles

IMF Staff Country Reports, February 21, 2017

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Seychelles: Fourth and Fifth Reviews Under the Extended Arrangement and Request for Modification and Waiver of Applicability of Performance Criteria — Press Release; Staff Report; and Statement by the Executive Director for Seychelles

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Bibliographic details

• Published: February 21, 2017
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781475579079.002

Key Findings

• All performance criteria as of December 31, 2015, and June 30, 2016, were met.
• The macroeconomic program remains broadly on track for the second half of the year.
• The structural agenda is proceeding, albeit with some technical delays.
• IMF staff welcome the authorities’ commitment to the goal of a steady reduction in public debt over the medium term, as reflected in the draft 2017 budget.

Policy Implications and Recommendations

• Continue implementation of the macroeconomic program to maintain momentum through the second half of the year.
• Address technical delays in the structural reform agenda to ensure timely completion of reforms.
• Prioritize measures in the 2017 budget that support a steady reduction in public debt over the medium term.

Subject Areas and Analytical Focus

• Banking
• Credit
• External debt
• Monetary base
• Money
• Public debt
• Revenue administration

Keywords Highlighted in the Report

• CR
• Credit
• debt service payment
• Global
• ISCR
• Monetary base
• program performance criteria
• reserve money target
• SONA
• SONA initiative
• US$
• year-on-year inflation

International Monetary Fund. Seychelles: Fourth and Fifth Reviews Under the Extended Arrangement and Request for Modification and Waiver of Applicability of Performance Criteria — Press Release; Staff Report; and Statement by the Executive Director for Seychelles (IMF Staff Country Reports 2017, 051).

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