Cover IMF Staff Country Reports
Seychelles: Request for an Arrangement Under the Extended Fund Facility
Author:
International Monetary Fund. African Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2014: Issue 186
Language:
English
Publication Date:
03 Jul 2014
DOI:
https://doi.org/10.5089/9781498346979.002
ISBN:
9781498346979
ISSN:
1934-7685
Pages:
75
Keywords:
ISCR; CR; monetary policy; Seychellois authorities; government; fiscal policy; SDR; real gross domestic product; policy implementation capability; ownership of the program; balance of payments pressure; Monetary base; Current account deficits; Tourism; Global; Europe
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This paper discusses Seychelles’ Request for an Arrangement Under the Extended Fund Facility (EFF). In the five years following the 2008 balance of payments and debt crisis, the authorities have successfully enacted a comprehensive program of reforms. Despite the success of the program, important risks and challenges remain. To face these challenges, the authorities have requested a successor EFF arrangement with the IMF. This program will help support their macroeconomic policies and protect reserve coverage over the extended period, while they carry out wide-ranging structural reforms necessary to support improvement in macroeconomic conditions, lock-in stabilization, and reduce the country’s vulnerabilities.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2014: Issue 186