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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 |
