## Seychelles: 2022 Article IV Consultation, Second Review Under the Extended Fund Facility Arrangement, and Request for Modification of Performance Criteria and Indicative Targets-Press Release; Staff Report; and Statement by the Executive Director for Seychelles

_IMF Staff Country Reports, July 26, 2022_

## Source details

**Canonical URL:** [Seychelles: 2022 Article IV Consultation, Second Review Under the Extended Fund Facility Arrangement, and Request for Modification of Performance Criteria and Indicative Targets-Press Release; Staff Report; and Statement by the Executive Director for Seychelles](https://www.imf.org/en/publications/cr/issues/2022/07/26/seychelles-2022-article-iv-consultation-second-revie-under-the-extended-fund-facility-521339)

## Other formats

- [Markdown version](/en/publications/cr/issues/2022/07/26/seychelles-2022-article-iv-consultation-second-revie-under-the-extended-fund-facility-521339/index.md)
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## Bibliographic details
- Published: July 26, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400216367.002

---

### Publication snapshot
- Publication date: July 26, 2022
- Pages: 102
- Volume: 2022
- Issue: 249
- Series: Country Report No. 2022/249
- DOI: https://doi.org/10.5089/9798400216367.002
- Stock No: 1SYCEA2022003
- ISBN: 9798400216367
- ISSN: 1934-7685
- Subject tags: Economic sectors; Expenditure; International organization; Monetary policy; Money; National accounts; Public debt
- Keywords: Africa; emergency expenditure; Global; government finance statistics manual; government operation; Monetary base; only authority; policy commitment; Policy recommendation; Seychellois authorities; Tourism

### Executive summary and recent performance
- Seychelles’ economic recovery in 2021 vastly outperformed projections, fueled by a faster-than-expected rebound of the tourism sector.
- Monetary policy remains appropriately accommodative.
- The authorities are committed to closely monitoring inflationary pressures.
- The country remains vulnerable to climate change.

### Fiscal and debt posture
- The authorities are committed to reducing debt vulnerabilities and creating fiscal space to address future risks.

### Structural reform agenda
- The structural reform agenda will continue to focus on:
  - revenue administration,
  - public financial management,
  - governance, including digitalization,
  - state-owned-enterprise reform,
  - climate change adaptation and mitigation policies.

### Policy stance and commitments
- Monetary policy: appropriately accommodative with close monitoring of inflationary pressures.
- Fiscal policy: emphasis on reducing debt vulnerabilities and creating fiscal space for future risks.
- Structural reforms prioritized to strengthen revenue mobilization, public financial management, governance, and climate resilience.

*International Monetary Fund. Seychelles: 2022 Article IV Consultation, Second Review Under the Extended Fund Facility Arrangement, and Request for Modification of Performance Criteria and Indicative Targets - Press Release; Staff Report; and Statement by the Executive Director for Seychelles (July 26, 2022).*

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_Source: https://www.imf.org/en/publications/cr/issues/2022/07/26/seychelles-2022-article-iv-consultation-second-revie-under-the-extended-fund-facility-521339_