Seychelles Request For An Arrangement Under The Extended Fund Facility Staff Report Press Release And Statement By The Executive Director For Seychelles

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1498366694
Size: 52.26 MB
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Seychelles Request For An Arrangement Under The Extended Fund Facility Staff Report Press Release And Statement By The Executive Director For Seychelles from the Author: International Monetary Fund. African Dept.. 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.

Seychelles

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 147557939X
Size: 35.11 MB
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Seychelles from the Author: International Monetary Fund. African Dept.. Completion of the fourth review was delayed after the government announced in early 2016 expenditure and revenue initiatives with estimated annual fiscal costs of 3 percent of GDP. After the opposition won a majority in parliament in September, the President announced his resignation and the Vice President took over. With low commodity prices and strong tourist arrivals, the economic developments since the third review have been favorable and economic outlook for 2016?17 remains positive.

Seychelles

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1455261955
Size: 79.35 MB
Format: PDF, Mobi
View: 3847
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Seychelles from the Author: International Monetary Fund. Seychelles's strong stabilization efforts has helped the economy to overcome debt crisis and global recession under the Stand-By Arrangement (SBA). But the authorities need to address monetary policy trade-offs, and financial sector challenges exist. Executive Directors welcomed Seychelles's structural reform agenda, which aims at enhancing public financial and central bank management, strengthening competition and risk management, and reducing the role of the state in the financial system. Directors appreciated Seychelles's strong performance compliance with performance criteria under the economic program, and extended further financing.