IMF Executive Board approves two new programmes, EFF and RSF, for Seychelles

June 01, 2023

Minister Naadir Hassan has welcomed the approval by the IMF to provide support to Seychelles under two new programmes.

The IMF Executive Board gave its approval for a new Extended Fund Facility (US$56 million), which will span over a three year period and Seychelles will also benefit under the Resilience and Sustainability Facility (US$46 million), also spanning over three years.

Minister Hassan said;

“The IMF has proven to be a strong and faithful partner of the Seychelles, throughout the country’s economic downturn. The support provided by the Institution towards our economic reform program after the COVID 19 pandemic in 2021 onwards, has enabled the country’s economy to recover and allowed the government fiscal space to finance budget gaps. As we move on the next phase of our development, the government is grateful to the IMF for the additional support under the new EFF. The government is equally grateful to the IMF for recognizing the vulnerability of our country to climate change and the high cost of boosting our resilience to such phenomenon, which has enabled Seychelles to also benefit under the RSF programme.”

Below is link to the IMF press release.


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