{
  "title": "Seychelles - Assessment Letter for the African Development Bank",
  "publication": "Policy Papers, November 25, 2009",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/seychelles-assessment-letter-for-the-african-development-bank-pp4398",
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  "summary": "Macroeconomic performance of Seychelles under the Stand-by Arrangement (SBA) has been favorable and the reforms continue to be pursued with a high degree of ownership and broad public support.",
  "sections": [
    {
      "heading": "Macroeconomic performance under the Stand-by Arrangement (SBA)",
      "content": "- Macroeconomic performance of Seychelles under the Stand-by Arrangement (SBA) has been favorable.\n- Reforms continue to be pursued with a high degree of ownership and broad public support.\n- The liberalization of the exchange regime, a strong fiscal adjustment, and prudent monetary policies have contributed to restoring macroeconomic stability."
    },
    {
      "heading": "Program implementation",
      "content": "- Program implementation has been exemplary.\n- Talks to restructure public external debt are progressing well."
    },
    {
      "heading": "Debt restructuring and public debt outlook",
      "content": "- A debt restructuring agreement with commercial creditors, on terms comparable to those agreed with Paris Club creditors, is a crucial element in reestablishing a sustainable public debt outlook and supporting economic recovery."
    },
    {
      "heading": "Key findings and policy implications",
      "content": "- Findings:\n  - Liberalization of the exchange regime contributed to stability.\n  - Strong fiscal adjustment supported macroeconomic restoration.\n  - Prudent monetary policies reinforced stabilization efforts.\n- Policy implications:\n  - Concluding a debt restructuring agreement with commercial creditors on Paris Club–comparable terms is essential to reestablish a sustainable public debt outlook.\n  - Continued pursuit of reforms with strong public ownership and support is important to sustain recovery.\n\n---\n\n Content in this bundle\n\n- Seychelles: Assessment Letter for the African Development Bank; IMF Policy Paper; November 25, 2009\n  - Seychelles: Assessment Letter for the African Development Bank; IMF Policy Paper; November 25, 2009 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Seychelles: Assessment Letter for the African Development Bank; IMF Policy Paper; November 25, 2009 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/seychelles-assessment-letter-for-the-african-development-bank-pp4398"
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    "Published: November 25, 2009",
    "Series: Policy Papers",
    "Macroeconomic performance of Seychelles under the Stand-by Arrangement (SBA) has been favorable.",
    "Reforms continue to be pursued with a high degree of ownership and broad public support.",
    "The liberalization of the exchange regime, a strong fiscal adjustment, and prudent monetary policies have contributed to restoring macroeconomic stability.",
    "Program implementation has been exemplary.",
    "Talks to restructure public external debt are progressing well.",
    "A debt restructuring agreement with commercial creditors, on terms comparable to those agreed with Paris Club creditors, is a crucial element in reestablishing a sustainable public debt outlook and supporting economic recovery.",
    "Findings:",
    "Policy implications:",
    "**Seychelles: Assessment Letter for the African Development Bank; IMF Policy Paper; November 25, 2009**"
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