Seychelles - Assessment Letter for the African Development Bank

November 25, 2009

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Seychelles - Assessment Letter for the African Development Bank, (USA: International Monetary Fund, 0) accessed November 21, 2024

Summary

Macroeconomic performance of Seychelles under the Stand-by Arrangement (SBA) has been favorable and the reforms continue to be pursued with a high degree of ownership and broad public support. The liberalization of the exchange regime, a strong fiscal adjustment, and prudent monetary policies have contributed to restoring macroeconomic stability. Program implementation has been exemplary and talks to restructure public external debt are progressing well. A debt restructuring agreement with commercial creditors, on terms comparable to those agreed with Paris Club creditors, is a crucial element in reestablishing a sustainable public debt outlook and supporting economic recovery.

Subject: African Development Bank, Assessment letters, Debt restructuring, Economic growth, Economic recovery, Seychelles, Stand-by arrangements

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