Seychelles gets a further disbursement of SCR 124,426,203.78, from IMF, as per the EFF Arrangement
August 09, 2022
The Government of Seychelles has received the equivalent of SCR 124,426,203.78 or $8.7 million, as part of the Extended Fund Facility Arrangement, as agreed with the International Monetary Fund (IMF).
The disbursement of the money was effected on 01st July, 2022, and comes after the completion of the second review by IMF of the Seychelles’ economic performance, which took place between late April and early May of this year.
The EFF arrangement for a total sum of $105.63 million, was signed between the Government of Seychelles and IMF, on 29th July, 2021, for a period of 32 months.
Since the signing of the arrangement, IMF has to date, conducted and completed two reviews of the country’s economic performance. After each review, and upon the approval of the IMF’s Executive Board, an amount of money is disbursed, as per the EFF.
The total disbursements, up to now, under the current EFF is about $72.6 million.
The IMF team is headed by Ms. Boriana Yontcheva.
After the conclusion of each review, a comprehensive report of the economic performance, detailing progress made, as well as challenges and threats, is issued and published by the IMF.
Members of the public can access the full report by clicking on the link below;
http://www.finance.gov.sc/uploads/files/IMF-Staff-Report-July-2022.pdf
