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Seychelles: 2013 Article IV Consultation, Seventh Review Under the Extended Arrangement and Request for Modification of Performance Criterion

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  • International Monetary Fund

Abstract

This staff report discusses Seychelles 2013 Article IV Consultation, Seventh Review Under the Extended Arrangement and Request for Modification of Performance Criterion. The repayment of domestic debt, a preference for foreign financing, and shallow domestic financial markets have resulted in significant structural rupee liquidity in the banking system. Tourism has been the main driver of growth, but there is a tension with the number of tourists the islands can absorb. Despite the challenging global environment, tourist arrivals have grown strongly, with diversification toward nontraditional markets more than offsetting stalling European arrivals. The Seychellois rupee is broadly in line with medium-term fundamentals, and tourism remains competitive among peers.

Suggested Citation

  • International Monetary Fund, 2013. "Seychelles: 2013 Article IV Consultation, Seventh Review Under the Extended Arrangement and Request for Modification of Performance Criterion," IMF Staff Country Reports 2013/202, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2013/202
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    Cited by:

    1. Bon, Gatien & Cheng, Gong, 2021. "Understanding China's role in recent debt relief operations: A case study analysis," International Economics, Elsevier, vol. 166(C), pages 23-41.
    2. Gatien Bon & Gong Cheng, 2020. "China’s overseas Sovereign debt relief actions: What insights do recent cases provide?," EconomiX Working Papers 2020-22, University of Paris Nanterre, EconomiX.

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