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# [SEYCHELLES] IMF Finalises Reviews 5 and 6: $41 Million Disbursed, Growth at 1.5% and Debt at 57.1% of GDP
- URL: https://businessoi.media/en/seychelles-le-fmi-finalise-les-revues-5-et-6-41-millions-de-dollars-injectes-croissance-a-1-5-et-dette-a-57-1-du-pib-en/
- Published: 2026-08-02T02:46:04.000Z
- Updated: 2026-08-02T02:46:04.000Z
- Description: The IMF completes reviews 5 and 6 of Seychelles's programme and disburses $41M. Growth slows to 1.5% in 2026, with public debt projected at 57.1% of GDP.
- Author: Emmanuel TAOCHY
- Tags: Seychelles, Économie, Finances publiques, Revue matinale, #en

The IMF Executive Board completed the **fifth and sixth reviews of Seychelles's economic programme** on 26 May 2026, immediately unlocking approximately **$41 million** under the Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF) arrangements. The disbursements aim to "strengthen macroeconomic stability, sustain growth, and reinforce fiscal and monetary policy frameworks."

## Slowing Growth After a Record Year

Following a strong **5.1% expansion in 2025**, Seychelles's real GDP is projected to grow by just **1.5% in 2026**, before stabilising at around **3.3% annually** through 2031\. This slowdown partly reflects the normalisation following post-pandemic rebound effects, as well as ongoing fiscal adjustments aimed at controlling public debt.

## Debt Under Watch

Public debt is expected to reach **57.1% of GDP in 2026** — a significant level for a small island economy — before being brought down to **48.2% by 2031** through the authorities' fiscal consolidation efforts. Gross official reserves are projected at **$828 million**, representing 3.7 months of imports, a level the IMF considers adequate.

## Programme Priorities

The programme rests on six pillars: revenue mobilisation, public debt management, financial sector strengthening, climate resilience enhancement, current account deficit reduction, and maintaining exchange rate flexibility. Seychelles entered this IMF arrangement in a context of heightened vulnerability to climate shocks, which weigh on tourism revenues and coastal infrastructure.

## Why It Matters

IMF support serves as a credibility certificate on international financial markets, facilitating refinancing at favourable terms. For other islands in the region — Mauritius, Réunion, Madagascar — the Seychelles example illustrates the inherent tensions in managing small island state macroeconomics: growth, debt and climate resilience do not always pull in the same direction.

*Source: IMF, press release of 26 May 2026.*