Resilience and Sustainability – IMF Chooses Seychelles for Pilot Financing Mechanism

Seychelles is set to become a pilot country to benefit from the International Monetary Fund’s (IMF) newly launched Resilience and Sustainability Facility (RSF), announced the mission chief for the island nation on Tuesday.

Initiated in October 2022, the Resilience and Sustainability Facility provides affordable long-term financing to countries undertaking reforms to reduce risks to prospective balance of payments stability, including those related to climate change and pandemic preparedness.

Calixte Ahokpossi made the statement to the press after meeting Seychelles’ President Wavel Ramkalawan at State House to discuss two IMF programmes for the country. He was accompanied by IMF’s resident representative, Aissatou Diallo, Seychelles’ finance minister Naadir Hassan and the governor of the Central Bank of Seychelles, Caroline Abel.

The IMF team is in the country at the request of local authorities.

“We discussed the Extended Fund Facility and the new facility called the Resilience and Sustainability Facility. The latter goes to support the climate-related efforts of governments around the world,” said Ahokpossi.