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Seychelles: First Review Under the Extended Arrangement, Request for Modification of Performance Criteria, and Financing Assurances Review: Staff Report; Staff Supplement; and Press Release
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2010: Issue 204
Language:
English
Publication Date:
09 Jul 2010
DOI:
https://doi.org/10.5089/9781455204588.002
ISBN:
9781455204588
ISSN:
1934-7685
Pages:
57
Keywords:
ISCR; CR; Seychelles; debt; disbursement of SDR; debt exchange; real gross domestic product; Seychelles economy; policy implementation; GEF grant implementation; exchange bond; Monetary base; Public enterprises; International reserves; Global; East Africa
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund