European Parliament Library

Seychelles :, 2008 Article IV Consultation and Request for a Stand-By Arrangement: Staff Report; Staff Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Seychelles

Abstract
This paper presents Seychelles’ 2008 Article IV Consultation and Request for a Stand-By Arrangement. Large macroeconomic imbalances and vulnerabilities resulting from longstanding unsustainable macroeconomic policies, combined with recent external shocks, culminated in mid-2008 with the near-exhaustion of foreign reserves and missed payments on public debt obligations. Growth is declining, and inflation has risen sharply. The pegged exchange rate that was incompatible with fundamentals, together with a complex system of exchange restrictions and controls, has resulted in economic dislocation, a parallel exchange market, and pervasive dollarization
Table Of Contents
Cover; Contents; Executive Summary; I. Background and Recent Developments; Figures; 1. Selected Economic Indicators, 2001-08; II. Policy Discussions; A. Overview; B. Macroeconomic Framework; C. Exchange Regime Reform and Exchange Rate Policy; Text Table 1. Seychelles: Main Macroeconomic Assumptions and Targets, 2007-2013; 2. Official Versus Parallel Exchange Rate Developments, Jan.-Sept. 2008; 3. External Sector Developments, 2001-08; Boxes; 1. External Stability and Exchange Rate Assessment; D. Restoring Public Debt Sustainability
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (104 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781452787732

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