塞舌尔：2026年第四条磋商、根据扩展基金机制安排和弹性与可持续性机制安排进行的第五次和第六次审查，以及要求豁免不遵守绩效标准的新闻稿；员工报告；塞舌尔执行主任的发言

IMF Country Report No.26/122 SEYCHELLES 2026 ARTICLE IV CONSULTATION, FIFTH AND SIXTHREVIEWS UNDER THE ARRANGEMENTSUNDER THEEXTENDED FUND FACILITY AND THE ARRANGEMENTSUNDER THE RESILIENCE AND SUSTAINABILITYFACILITY, AND REQUEST FOR A WAIVER FORNONOBSERVANCE OF A PERFORMANCE CRITERION—PRESS RELEASE;STAFF REPORT;AND STATEMENT BYTHE EXECUTIVE DIRECTOR FORSEYCHELLES June2026 In the context of theStaff Report for the 2026 Article IV Consultation, Fifth and SixthReviews Underthe Arrangement Underthe Extended Fund FacilityandtheArrangement Underthe Resilienceand Sustainability Facility,and RequestforaWaiverfor NonobservanceofaPerformance Criterion, the following documents havebeen released and are included in this package: •APress Releaseincluding a statement by the Chair of the Executive Boardandsummarizing the views of the Executive Board as expressed during itsMay 26,2026,consideration of the staff report on issues related to the Article IV Consultation andthe IMF arrangements. •TheStaff Reportprepared by a staff team of the IMF for the Executive Board’sconsideration onMay 26, 2026, following discussions that ended onMarch 19,2026,with the officials ofSeychelleson economic developments and policies.Based oninformation available at the time of these discussions, the staff report was completedonMay 13, 2026. •AnInformational Annexprepared by the IMFstaff. •AStatement by the Executive DirectorforSeychelles. TheIMF’s transparency policy allows for the deletion of market-sensitive information andpremature disclosure of the authorities’ policy intentions in published staff reports andother documents. Copies of this report are available to the public from International Monetary Fund•Publication ServicesPO Box 92780•Washington, D.C. 20090Telephone: (202) 623-7430•Fax: (202) 623-7201 International Monetary FundWashington, D.C. IMF Executive Board Concludes2026Article IV Consultationand Completes Fifth and Sixth Reviews Under the ExtendedFund Facility and Resilience and Sustainability FacilitywithSeychelles FOR IMMEDIATE RELEASE •The Executive Board of the International Monetary Fund (IMF) completed today thefifthand sixthreviews of Seychelles’ economic performance under the Extended Fund Facility(EFF) and Resilience and Sustainability Facility (RSF) Arrangements. Completion of thereviews allows for an immediate disbursement of about US$41 million intended tostrengthenmacroeconomic stability, sustain growth, and reinforce fiscal and monetarypolicy frameworks, while also supporting efforts to strengthen resilience to climatechange. •Seychelles has made strong progress toward key economic objectives, including areduction of public debt, rebuilding foreign exchange reserves, strengthening themonetary policy framework and financial sector supervision, and advancing climaterelated reforms. •Supported by strong economic outturns in 2025, these achievements have left Seychellesin a stronger position as it confronts new shocks emanating from ongoingwar in theMiddle East. Washington, DC–May 26, 2026:The Executive Board of the International Monetary Fund(IMF) concluded the Article IV consultation1,2and completed the fifth and sixth (final) reviewsof Seychelles’ performance under the Extended Fund Facility (EFF) and Resilience andSustainability Facility (RSF)withSeychelles.Completion of the reviews allows for animmediate disbursement of about US$41 million intended to strengthen macroeconomicstability, sustain growth, and reinforce fiscal and monetary policy frameworks, while alsosupporting efforts to strengthen resilience to climate change, exploit synergies with othersources of official financing, and catalyze financing for climate-related investments. Seychelles’ economic performance has been strong. Real GDP growth for 2025 is estimatedat 5.1 percent, driven by record tourist arrivals. Headline inflation (CPI) was just below zero atend-year. The fiscal outturn was tighter than targeted at a primary surplus of 2.5 percent ofGDP, while the ratio of public and publicly guaranteed debt to GDP declined to 53.6 percent.The external current account deficit dropped to 6.5 percent of GDP, and foreign exchangereserves rose to over 4 months of import cover. The Middle East war poses significant challenges for Seychelles. About 60 percent of touristarrivals in Seychelles come through Doha, Dubai, or Abu Dhabi. Seychelles also importsabout 95 percent of its energy, much of its food, and most if its industrialinputs—prices forwhich are now rising either directly or through higher freight and shipping costs.Under abaseline set of assumptions, real GDP growth is expected to fall to 1.5 percent in 2026,inflation to rise to 3.1 percent by end-year;the primaryfiscalsurplus to fall toabout 0.9percent of GDP(compared to 1.5 percentin the budget);and the external current accountdeficitis projected toexpand to 7.8 percent of GDP. Program performance under the EFF was strong. All but one of the quantitative targets for the5th and