VICTORIA, Seychelles — An International Monetary Fund (IMF) staff team, led by Todd Schneider, visited Seychelles from November 3 to 10, 2025, as part of the Fund’s regular engagement with the Seychellois authorities and other parties. At the conclusion of the visit, Mr Schneider issued a statement noting that the mission held productive discussions with the economic team following the national elections in October.
The staff visit was an opportunity to exchange views on recent economic developments, assess new initiatives under the government’s 100-day agenda, and discuss key elements of the 2026 budget framework. ‘Seychelles’ economic growth in 2025 is stronger than previously anticipated – bolstered by an anticipated record number of tourist arrivals by end-year,’ Mr Schneider said. He noted that headline inflation has remained low at 0.3 per cent through October, and that low food and fuel prices combined with a relatively stable rupee vis-à-vis the dollar will likely keep inflation contained.
Mr Schneider added that the rise in tourist income has strengthened the balance of payments in 2025. ‘The external current account deficit is projected to fall to about 5 per cent of GDP, compared to a deficit of 8 per cent in 2024. In this context, the Central Bank of Seychelles’s reserve position has continued to improve,’ he observed. The IMF team thanked the Seychellois authorities for their cooperation and the constructive discussions held during the visit, and reaffirmed its commitment to continue supporting Seychelles’ economic reform agenda.
