The IMF and Seychelles has reached a staff level agreement upon the conclusion of the fourth review under the Extended Fund Facility and Resilience and Sustainability Facility Arrangement.
Following their 2 weeks mission to Seychelles, the team, led by mission chief, Mr. Todd Schneider, said that the ‘government has made strong progress in implementing policies under the EFF and RSF programmes, where all quantitative targets have been met and good progress has also been made on a range of macro-structural issues.’
While the mission concluded that the country’s economic outlook ‘is generally stable’, however ‘downside risks have increased, given the vulnerability to changes in tourist spending, international commodity prices and transport costs.’
The Mission has recommended ‘continued fiscal prudence and close monitoring of the economic and financial indicators.’