09.09.09
IMF grants USD 12.3 million to Seychelles
It was briefly mentioned previously that the International Monetary Fund (IMF) has disbursed USD 12.3 million to Seychelles. So, the Central Bank of Seychelles (CBS) announced that the jurisdiction will benefit from this special allocation of USD 12.3 million.
This money is part of a global initiative aimed at helping member countries overcome the negative impact of the global crisis. It should be noted that this is not related to the financial support package that the IMF is providing to Seychelles through the 2-year Stand-By Arrangement.
The money comes in 2 tranches – the 1st of USD 10.1 million was received by the CBS in the beginning of September, and the 2nd of USD 2.2 million will be transferred to the CBS on September 9.
It is worth mentioning that the International Monetary Fund board has approved a global allocation of USD 283 billion for all member countries.