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Seychelles: The international monetary fund grants a credit of 17.6 million dollars to the archipelago

The bodies of the international monetary Fund (IMF) recently endorsed for an appropriation of some 17.6 million dollars allocated to Seychelles over the next three years to support the island's economy that continued its growth in 2013 in the wake of increased notably in the tourism sector and of a low inflation.
An immediate release of a first payment will be made for some 2.5 million dollars and the rest of the sum will be then distributed after the examination twice per year of macroeconomic developments in the country.
`As a reminder, the Seychellois Tourism is the primary source of income of the Seychelles archipelago.
230.272 tourists visited Seychelles in 2013, an increase of 11% over the previous year.
The Seychelles are also committed to reducing their public debt which was around 80% in 2011 and 50% by 2018 and according to the latest figures of the Central Bank of Seychelles, the country's reserves were valued at approximately 480 million dollars.

Laurent Chinaud

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