Seychelles: Request for an Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Seychelles
Seychelles: Request for an Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Seychelles

Author: International Monetary

Publisher: International Monetary Fund

Published: 2021-08-23

Total Pages: 97

ISBN-13: 1513594060

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Seychelles was hit hard by the COVID-19 crisis. The authorities reacted swiftly, by locking down the economy, thereby keeping infection and fatality rates low. However, the travel restrictions and global economic downturn triggered unprecedented economic contraction. The authorities responded with measures to mitigate the economic fallout on businesses and households. But the public debt ratio increased sharply, reflecting the primary balance deterioration, exchange rate depreciation, and GDP contraction. As soon as vaccines became available, Seychelles led the world in vaccination coverage and reopened its borders. With tourist arrivals bouncing back, a V-shaped recovery is now expected.

Seychelles: First Review Under the Extended Fund Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for the Seychelles
Seychelles: First Review Under the Extended Fund Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for the Seychelles

Author: International Monetary

Publisher: International Monetary Fund

Published: 2022-01-13

Total Pages: 79

ISBN-13: 1616359056

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The expected macroeconomic recovery has materialized. Seychelles remains a leader in vaccine coverage at home, and the widespread availability of vaccines in Seychelles’ key tourist markets, particularly Europe, is contributing to a strong rebound in tourism. The economic outlook, while positive, remains subject to the uncertain evolution of the COVID-19 pandemic globally.

Barbados
Barbados

Author: International Monetary Fund. Western Hemisphere Dept.

Publisher: International Monetary Fund

Published: 2018-10-04

Total Pages: 90

ISBN-13: 1484380037

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The key objectives of the program are to restore macroeconomic and debt sustainability, address falling reserves, and increase growth. The new government, which took office in late May, has committed to fiscal consolidation and structural reform as key tools for macroeconomic adjustment.

Seychelles
Seychelles

Author: International Monetary Fund. African Dept.

Publisher: International Monetary Fund

Published: 2014-07-03

Total Pages: 75

ISBN-13: 1498376347

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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
Seychelles

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2012-02-06

Total Pages: 57

ISBN-13: 1463935803

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Seychelles’s fiscal stance for 2012 allows maintaining a steady course toward debt reduction. The authorities’ decisions to downsize the loss-making national airline and raise tariffs of public enterprises are crucial steps for easing fiscal pressures and ensuring sufficient capital expenditure, in particular in much-needed infrastructure projects. Price subsidies through the Stabilization Fund will be replaced with targeted transfers to low-income households. The structural reform agenda for 2012 builds on progress made to date, focusing on taxation, public finance management, public enterprises, and the financial sector.

Seychelles
Seychelles

Author: International Monetary Fund. African Dept.

Publisher: International Monetary Fund

Published: 2023-06-28

Total Pages: 126

ISBN-13:

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Under the current EFF, the authorities have made substantial progress in restoring macroeconomic stability and debt sustainability after being hit hard by the COVID-19 pandemic. Now, they would like to pivot to the deeper medium-term structural reforms needed to support structural balance of payments needs and promote sustainable and inclusive growth. To support this pivot, they have requested the cancellation of the current EFF and the approval of a new one. Concurrently, they have requested a program under the Resilience and Sustainability Facility (RSF) to help advance their climate agenda, including measures to enhance resilience to climate-related shocks.

Profiling Vulnerability and Resilience
Profiling Vulnerability and Resilience

Author: Lino Briguglio

Publisher: Commonwealth Secretariat

Published: 2010

Total Pages: 148

ISBN-13: 9781849290357

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This book provides a tool for assessing both how prone a country is to external economic shocks - its vulnerability - as well as its ability bounce back from those shocks - its resilience. For economic planners, as well as students of the economies of small states.

Cote D'Ivoire
Cote D'Ivoire

Author: International Monetary Fund. African Dept.

Publisher: International Monetary Fund

Published: 2016-12-19

Total Pages: 130

ISBN-13: 1475561261

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This paper discusses Côte D’Ivoire’s Requests for an Extended Arrangement Under the Extended Fund Facility (EFF) and an Arrangement Under the Extended Credit Facility (ECF). Extending the gains of 2015, solid economic and fiscal performance continued in 2016. Strong investment and private consumption contributed to real GDP growth estimated at about 9 percent in 2015. In 2016, booming extractive industries and rising domestic demand supported activity in the commercial sector, which should sustain GDP growth at about 8 percent. The macroeconomic outlook remains favorable, but structural bottlenecks pose challenges to sustained strong growth. The IMF staff supports the authorities’ request for the ECF and EFF arrangements.

Africa on the Move
Africa on the Move

Author: Mr.Lamin Y Leigh

Publisher: International Monetary Fund

Published: 2016-01-22

Total Pages: 182

ISBN-13: 1513588605

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This book describes the reforms needed to move small middle-income countries in sub-Saharan Africa to advanced-economy status. The result of intense discussions with public officials in the countries covered, the book blends rigorous theory, econometrics, and practitioners' insights to come up with practical recommendations for policymakers. It spans topics from macroeconomic vulnerability and reserve adequacy to labor market institutions and financial inclusion. The book is a must-read for researchers interested in the economic issues facing developing countries in sub-Saharan Africa.

Côte D'Ivoire
Côte D'Ivoire

Author: International Monetary Fund. African Dept.

Publisher: International Monetary Fund

Published: 2023-06-12

Total Pages: 137

ISBN-13:

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Consecutive global shocks have led to a widening of macroeconomic imbalances, put a serious strain on public finances as well as regional reserves, and further exposed longstanding constraints to economic transformation. Notwithstanding record growth in the past decade and significant poverty reduction, large social priority and investment spending needs remain, while comparatively weak domestic revenue mobilization poses significant financing constraints. Against this backdrop, the authorities have requested Fund support of 400 percent of quota (SDR 2,601.6 million) for an economic program aimed at meeting pressing financing needs, preserving macroeconomic stability, and anchoring the National Development Plan (NDP) in key structural reforms to support Côte d’Ivoire’s transformation towards upper-middle income status.