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IMF Country Report No. 22/250

SEYCHELLES

SELECTED ISSUES

July 2022

This Selected Issues paper on Seychelles was prepared by a staff team of the

International Monetary Fund as background documentation for the periodic consultation with the Seychelles. It is based on the information available at the time it was completed on June 14, 2022.

Copies of this report are available to the public from

International Monetary Fund • Publication Services

PO Box 92780 • Washington, D.C. 20090

Telephone: (202) 623–7430 • Fax: (202) 623–7201

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Price: $18.00 per printed copy

International Monetary Fund

Washington, D.C.

© 2022 International Monetary Fund

Title page

SEYCHELLES

SELECTED ISSUES

June 14, 2022

Approved By

The African Department

Prepared by Peter Kovacs, Marijn Bolhius, Aissatou Diallo, Adolf Nourrice, and Ragul Pillay.

Contents

  • AN ASSESSMENT OF THE ECONOMIC LOSS FROM COVID-19 CONTAINMENT POLICIES IN SEYCHELLES

  • A. Introduction

  • B. The Evolution of and Response to the Pandemic in Seychelles

  • C. Economic Impact of the Pandemic

  • D. Methodology and Data

  • E. Conclusion

  • FIGURES

  • 1. Seychelles Stringency Index

  • 2. Tourist Arrivals by Source Country

  • 3. Evolution of the External Balance

  • 4. The Evolution of Goods and Services Export and Import

  • 5. Evolution of Fiscal Expenditure

  • 6. Overall Fiscal Balance

  • 7. Revenue & Grants

  • 8. Evolution of Exchange Rate

  • 9. Real GDP and Stringency Index

  • 10. Difference in GDP and Loss from Containment Policies

  • TABLES

  • 1. Selected Economic Indicators, 2020–21, Before and After COVID-19 Shock

  • 2. COVID-19 Related Expenditures

  • Annex

  • I. Empirical Assessment of the Economic loss from covid-19 Containment Policies in Seychelles

  • References

  • Collapse
  • Expand
Seychelles: Selected Issues
Author:
International Monetary Fund. African Dept.