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IMF Country Report No. 22/116

SEYCHELLES

TECHNICAL ASSISTANCE REPORT—EXTERNAL SECTOR STATISTICS

April 2022

This Technical Assistance Report on the Seychelles was prepared by a staff team of the International Monetary Fund. It is based on the information available at the time it was completed in March 2022.

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Title page

Seychelles

Report on External Sector Statistics Mission (October 4–13,2021) November 2021

Prepared by Tamara Razin

The contents of this report constitute technical advice provided by the staff of the International Monetary Fund (IMF) to the authorities of Seychelles (the “TA recipient”) in response to their request for technical assistance. This report (in whole or in part) or summaries thereof may be disclosed by the IMF to IMF Executive Directors and members of their staff, as well as to other agencies or instrumentalities of the TA recipient, and upon their request, to World Bank staff, and other technical assistance providers and donors with legitimate interest, unless the TA recipient specifically objects to such disclosure (see Operational Guidelines for the Dissemination of Technical Assistance Information). Publication or Disclosure of this report (in whole or in part) or summaries thereof to parties outside the IMF other than agencies or instrumentalities of the TA recipient, World Bank staff, other technical assistance providers and donors with legitimate interest, shall require the explicit consent of the TA recipient and the IMF’s Statistics Department (STA).

Contents

  • Glossary

  • SUMMARY OF MISSION OUTCOMES AND PRIORITY RECOMMENDATIONS

  • DETAILED TECHNICAL ASSESSMENT AND RECOMMENDATIONS ACTION PLAN

  • A. Collection and Compilation of Statistics on Offshore Activities

  • B. Participation in the IMF Survey on SPEs

  • C. Compiling Data on Travel Services

  • D. Staff Resources

  • TABLES

  • 1. Priority Recommendations

  • 2. Travel Services Based on New Estimation Model

  • APPENDICES

  • I. Officials Met During the Mission

  • II. Aggregated CSPs Survey Results for 2020

  • III. CSPs Survey Results for 2020 in IMF’s SPEs Survey

  • IV. Current Account with Data on Travel Applying Two Estimation Models

  • V. Progress on Action Plan of January 2019 Mission

Glossary

CBS

Central Bank of Seychelles

CSL

Company Special License

CSP

Corporate Service Provider

ESS

External Sector Statistics

FSA

Financial Services Authority

FX

Foreign exchange

IBC

International Business Company

IIP

international investment position

IMF’s SPE Survey

IMF’s survey “Resident Special Purpose Entities: Cross Border Flows and Positions”

MOU

Memorandum of Understanding

NBS

National Bureau of Statistics

RD

Registration Division

SPE

Special Purpose Entity

SRC

Seychelles Revenue Commission

STA

IMF’s Statistics Department

TA

Technical assistance

Seychelles: Technical Assistance Report-External Sector Statistics
Author: International Monetary Fund. Statistics Dept.