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IMF Executive Board Approves US$105.63 Million Extended Arrangement Under Extended Fund Facility for Seychelles


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IMF Executive Board Approves US$105.63 Million Extended Arrangement Under Extended Fund Facility for Seychelles
Washington, DC: On July 29, 2021, the Executive Board of the International Monetary Fund (IMF) approved a 32-month extended arrangement under theExtended Fund Facility(EFF) for Seychelles for SDR 74 million (US$105.63 million), or 323 percent of Seychelles’ quota. The Board’s approval allows for an immediate disbursement equivalent to US$ 34.26 million.
Seychelles was hit hard by the COVID-19 crisis. The authorities reacted swiftly, by locking down the economy, thereby keeping infection and fatality rates low. However, the travel restrictions and global economic downturn triggered unprecedented economic contraction. The authorities responded with measures to mitigate the economic fallout on businesses and households. But the public debt ratio increased sharply, reflecting the primary balance deterioration, exchange rate depreciation, and GDP con ....

United States , Tao Zhang , Fund Facility , Board Of The International Monetary Fund , Central Bank , Executive Board , International Monetary Fund , Extended Fund Facility , Deputy Managing Director , Selected Economic , Assessing Reserve Adequacy , ஒன்றுபட்டது மாநிலங்களில் , தாவோ ஜாங் , நிதி வசதி , பலகை ஆஃப் தி சர்வதேச பண நிதி , மைய வங்கி , நிர்வாகி பலகை , சர்வதேச பண நிதி , நீட்டிக்கப்பட்டது நிதி வசதி , துணை நிர்வகித்தல் இயக்குனர் , தேர்ந்தெடுக்கப்பட்டது பொருளாதார ,

IMF Executive Board completes third and fourth reviews of Sierra Leone's (...)


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The Executive Board of the International Monetary Fund (IMF) (has) completed the third and fourth reviews of Sierra Leone’s performance under the program supported by an Extended Credit Facility (ECF).
Completion of these reviews enables the IMF to disburse SDR31.11 million (about US$ 44.2 million), bringing total disbursements under the arrangement to SDR 77.775 million (about US$ 111 million). The Executive Board approved the authorities’ request for a waiver of non-observance of two performance criteria.
The Executive Board also approved the rephasing and extension of the ECF arrangement by 12 months. The Board had approved Sierra Leone’s 43-month ECF arrangement for SDR124.44 million (about US$172.1 million) on November 30, 2018 (see Press Release No. 18/446 ). The Government’s reform agenda, supported by the ECF, continues to aim at creating fiscal space for development by strengthening revenue mobilization, c ....

Sierra Leone , Tao Zhang , Board Of The International Monetary Fund , National Development Plan , Executive Board , International Monetary Fund , Extended Credit Facility , Press Release , Deputy Managing Director , Acting Chair , சியரா லியோன் , தாவோ ஜாங் , பலகை ஆஃப் தி சர்வதேச பண நிதி , தேசிய வளர்ச்சி திட்டம் , நிர்வாகி பலகை , சர்வதேச பண நிதி , நீட்டிக்கப்பட்டது கடன் வசதி , ப்ரெஸ் வெளியீடு , துணை நிர்வகித்தல் இயக்குனர் , நடிப்பு நாற்காலி ,