Seychelles: Fourth Review Under the Extended Arrangement, Request for Waiver of Applicability of Performance Criteria and Financing Assurance Review: Staff Report; Press Release on the Executive Board Discussion; Statement by the Executive Director for Seychelles
IMF Staff Country Reports, February 6, 2012
Source details
- Canonical URL
- Seychelles: Fourth Review Under the Extended Arrangement, Request for Waiver of Applicability of Performance Criteria and Financing Assurance Review: Staff Report; Press Release on the Executive Board Discussion; Statement by the Executive Director for Seychelles
Other formats
Bibliographic details
- Published: February 6, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781463935801.002
Fiscal stance and near-term outlook
- Seychelles’s fiscal stance for 2012 allows maintaining a steady course toward debt reduction.
- The authorities plan to replace price subsidies through the Stabilization Fund with targeted transfers to low-income households.
- Emphasis on ensuring sufficient capital expenditure, in particular in much-needed infrastructure projects.
Policy actions and fiscal measures
- Decisions to downsize the loss-making national airline.
- Decisions to raise tariffs of public enterprises to ease fiscal pressures.
- Replacement of broad price subsidies with targeted transfers to low-income households to improve fiscal efficiency.
Structural reform agenda for 2012
- Builds on progress made to date.
- Focus areas:
- Taxation
- Public finance management
- Public enterprises
- The financial sector
Topics and subject coverage
- Subject: Arrears, External debt, Fuel prices, Monetary base, Money, Prices, Public debt
- Keywords: Arrears, CBS governance, CR, discussion of Seychelles, Europe, exchange rate, Fuel prices, Global, governance, ISCR, Monetary base, policy platform, SDR, Seychelles economy, Seychellois authorities, Western Europe