Seychelles: First Review Under the Extended Arrangement, Request for Modification of Performance Criteria, and Financing Assurances Review: Staff Report; Staff Supplement; and Press Release

July 9, 2010

Preview Citation

Format: Chicago

Seychelles: First Review Under the Extended Arrangement, Request for Modification of Performance Criteria, and Financing Assurances Review: Staff Report; Staff Supplement; and Press Release, (USA: International Monetary Fund, 2010) accessed November 25, 2024

Summary

The fiscal policy stance continues to be appropriate, facilitating a reduction in public debt. Seychelles has made a good start on its second stage of reforms under an Extended Fund Facility (EFF)-supported program, despite a difficult international environment, showing strong resilience to the double crisis it confronted. The economy is reaping the benefits of strong macroeconomic stabilization policies. Seychelles remains highly exposed to external shocks. Progress on the ambitious program of tax and public finance management reform is encouraging, but important steps still lie ahead.

Subject: Central banks, Economic sectors, External debt, International reserves, Monetary base, Money, Public debt, Public enterprises

Keywords: CR, Debt, Debt exchange, Disbursement of SDR, East Africa, Exchange bond, GEF grant implementation, Global, International reserves, ISCR, Monetary base, Policy implementation, Public enterprises, Real gross domestic product, Seychelles, Seychelles economy

Publication Details

Pages:

57
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/204
Stock No:

1SYCEA2010002
ISBN:

9781455204588
ISSN:

1934-7685

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