Seychelles: 2022 Article IV Consultation, Second Review Under the Extended Fund Facility Arrangement, and Request for Modification of Performance Criteria and Indicative Targets-Press Release; Staff Report; and Statement by the Executive Director for Seychelles

July 26, 2022

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Seychelles: 2022 Article IV Consultation, Second Review Under the Extended Fund Facility Arrangement, and Request for Modification of Performance Criteria and Indicative Targets-Press Release; Staff Report; and Statement by the Executive Director for Seychelles, (USA: International Monetary Fund, 2022) accessed November 21, 2024

Summary

This paper presents Seychelles’ 2022 Article IV Consultation, Second Review under the Extended Fund Facility Arrangement, and Request for Modification of Performance Criteria and Indicative Targets. Seychelles’ economic recovery in 2021 vastly outperformed projections, fueled by a faster-than-expected rebound of the tourism sector. The authorities are committed to reducing debt vulnerabilities and creating fiscal space to address future risks. The structural reform agenda will continue to focus on revenue administration, public financial management, and governance, including digitalization, state-owned-enterprise reform, and climate change adaptation and mitigation policies. Monetary policy remains appropriately accommodative, and the authorities are committed to closely monitoring inflationary pressures. The authorities are committed to reducing debt vulnerabilities and creating fiscal space to address future risks. The structural reform agenda will continue to focus on revenue administration, public financial management, and governance, including digitalization, state-owned enterprise reform, and climate change adaptation and mitigation policies. The country remains vulnerable to climate change.

Subject: Economic sectors, Expenditure, International organization, Monetary policy, Money, National accounts, Public debt

Keywords: Africa, Emergency expenditure, Global, Government finance statistics manual, Government operation, Monetary base, Only authority, Policy commitment, Policy recommendation, Seychellois authorities, Tourism

Publication Details

Pages:

102
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2022/249
Stock No:

1SYCEA2022003
ISBN:

9798400216367
ISSN:

1934-7685

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