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Date Time 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 contraction. As

United statesTao zhangFund facilityBoard of the international monetary fundCentral bankExecutive boardInternational monetary fundExtended fund facilityDeputy managing directorSelected economicAssessing reserve adequacyஒன்றுபட்டது மாநிலங்களில்தாவோ ஜாங்நிதி வசதிபலகை ஆஃப் தி சர்வதேச பண நிதிமைய வங்கி