| Public Debt Management Strategy |
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To improve the administration of the debt portfolio, the Government passed the Public Debt Management Act in December 2008. The Act establishes transparent and sound procedures in the commitment of public debt obligations and seeks to minimize the cost and risk of the public debt portfolio. A Government Guarantee Policy and an internal Record Keeping Policy were introduced. The Government has also cut the budget deficit, begun a medium-term effort to strengthen public financial management, including through the introduction of a single Treasury account and rigorous oversight of the finances of the public enterprises. With these strengthened legal, institutional, and economic policy initiatives in place, the Government believes that steady and careful implementation of this medium term strategy will lower the cost and risk of public sector debt for future generations of Seychellois.Download a PDF version of the Public Debt Management strategy. |
This is the first public debt management strategy produced in Seychelles. It embodies the Government’s desire to proactively manage its public debt and increase transparency with the public and its creditors. The ongoing external debt restructuring is expected to change the size and structure of the public debt significantly over the coming months. The Government will issue a summary update following the conclusion of the external debt restructuring. 
