Africa-Press – Seychelles. The government of Seychelles has received the equivalent of R124,426,203.78 or $8.7 million, as part of the Extended Fund Facility (EFF) arrangement as agreed with the International Monetary Fund (IMF).
The disbursement of the money was effected on July 1, 2022, and comes after the completion of the second review by IMF of the Seychelles’ economic performance, which took place between late April and early May of this year.
The EFF arrangement for a total sum of $105.63 million was signed between the government of Seychelles and IMF on July 29, 2021, for a period of 32 months.
Since the signing of the arrangement, IMF has to date conducted and completed two reviews of the country’s economic performance. After each review, and upon the approval of the IMF’s executive board, an amount of money is disbursed, as per the EFF.
The total disbursements, up to now, under the current EFF is about $72.6 million.
The IMF team is headed by Boriana Yontcheva.
After the conclusion of each review, a comprehensive report of the economic performance, detailing progress made, as well as challenges and threats, is issued and published by the IMF.
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