cover image: Appraisal Program Information Document (PID) - Seychelles First Fiscal Sustainability and Climate Resilience Development Policy Financing - P176420 (English)

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Appraisal Program Information Document (PID) - Seychelles First Fiscal Sustainability and Climate Resilience Development Policy Financing - P176420 (English)

30 Oct 2021

The increase borrowing, along with the decline in GDP and the depreciation of the exchange rate led to an increase in the debt to GDP ratio to 100.8 percent of GDP. [...] Although the public debt is sustainable, risks are high and the GOS is working with the support of the IMF and the World Bank to implement policies to strengthen macroeconomic stability. [...] The series selectively addresses 3 binding constraints identified in the 2017 Systematic Country Diagnostic (SCD): macroeconomic and fiscal policy stability; addressing the sustainability of the resource base of the economy as well as financial stability and creating an environment for growth in non-traditional sectors (information and communications technology (ICT) and the blue economy). [...] Pillar 3 supports sustainable and inclusive growth by laying the foundations for the development of the digital economy (approval of measures to increase access to e-services) and the ocean economy (adoption of aquaculture). [...] The World Bank may provide implementation support and periodic monitoring and dialogue with the relevant line ministries and other stakeholders to ensure timely implementation and adequate monitoring of indicators and outcomes of the program.
economic recovery africa inclusive growth digital economy climate resilience information and communication technology fiscal policy coronavirus covid-19 natural resources inclusive economic growth external debt fiscal deficit fiscal management state-owned enterprise public service delivery international economics and trade debt markets fiscal sustainability extended fund facility financial sector development public sector development economic adjustment and lending public finance decentralization and poverty reduction macro-fiscal policy macroeconomics and economic growth public sector economics financial sector policy finance and financial sector development mitigation measure public finance management financing instrument law and regulation resilience to climate change blue economy trade development legal and regulatory framework macroeconomic and fiscal adverse effects of climate change domestic revenue mobilization poverty and social impact debt and fiscal sustainability financial sector risk share of employment macroeconomic policy framework fiscal and debt sustainability higher government spending lower debt reducing fiscal risks share of income domestic debt issuance

Authors

Whyte,Sashana

Disclosure Date
2021/10/30
Disclosure Status
Disclosed
Doc Name
Appraisal Program Information Document (PID) - Seychelles First Fiscal Sustainability and Climate Resilience Development Policy Financing - P176420
Originating Unit
EFI-AFR1-MTI-MacroFiscal-2 (EAEM2)
Published in
United States of America
Rel Proj ID
SC-Seychelles First Fiscal Sustainability And Climate Resilience D -- P176420
Total Volume(s)
1
Unit Owning
EFI-AFR1-MTI-MacroFiscal-2
Volume No
1

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