Seychelles Secures IMF Loan

The International Monetary Fund will disburse some USD26.1 million to Seychelles following the approval of a two-year standby arrangement to support the nation’s economic reforms. Of the sum, USD9.13 million will be released immediately while the rest will be disbursed in seven quarterly installments in the next two years. (“IMF Executive Board Approves USD26 Million Stand-By Arrangement for Seychelles” - International Monetary Fund, Nov. 14, 2008)

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