Cover IMF Staff Country Reports
Seychelles: First Review Under the Stand-By Arrangement, Request for Waivers of Nonobservance of Performance Criteria, and Financing Assurance Review: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Seychelles
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2009: Issue 121
Language:
English
Publication Date:
09 Apr 2009
DOI:
https://doi.org/10.5089/9781451836240.002
ISBN:
9781451836240
ISSN:
1934-7685
Pages:
66
Keywords:
ISCR; CR; program financing; Executive Board discussion; financing; authority; government; Seychellois authorities; government priority; Seychelles economy; Arrears; Debt service; Imports; Global; East Africa; Western Europe
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This paper discusses key findings of the First Review for Seychelles under the Stand-By Arrangement. Developments under the program at end-December 2008 were broadly satisfactory. Although growth was lower and inflation higher than targeted in 2008, the liberalization of the exchange regime and interest rate have removed the severe distortions weighing on the economy, and early signs of stabilization are apparent. The program targets for 2009 have been adjusted, primarily in light of the much more difficult external environment.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2009: Issue 121