Seychelles: First Review Under the Extended Arrangement, Request for Modification of Performance Criteria, and Financing Assurances Review: Staff Report; Staff Supplement; and Press Release

International Monetary Fund

No 2010/204, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

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 (search for similar items in EconPapers)
Pages: 57
Date: 2010-07-09
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