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Seychelles:First Review under the Extended Arrangement and Request for Modification of Performance Criteria-Staff Report Press R

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by International Monetary Fund. Afri Dept.
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Seychelles:First Review under the Extended Arrangement and Request for Modification of Performance Criteria-Staff Report Press R by International Monetary Fund. Afri Dept.

Program implementation and economic fundamentals continue to be strong, but the external position weakened in mid-2014. Projected growth for 2014 has been revised down to 2.8 percent from 3.7 percent, due to weaker demand for Seychelles’ two main exports—tourism and canned tuna. At the same time, strong growth in personal earnings and private sector credit have fueled a surge in imports, putting further pressure on the balance of payments. As a result, the exchange rate depreciated an estimated 11 percent in nominal effective terms from early August to late-October.

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Ebook Details
Pages: 38
Size: 988 KB
Publisher: INTERNATIONAL MONETARY FUND
Date published:   2014
ISBN: 9781498340434 (DRM-EPUB)

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05/25/2017
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