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Seychelles has made noticeable progress toward economic stability and external sustainability through bold reforms since the crisis in 2008. Despite the impressive macroeconomic performance, social concerns came to surface in 2016 and temporary fiscal policy slippage led to a delay in completing the fourth review under the Extended arrangement (EFF). The authorities brought the fiscal position back to a sustainable path during 2016?17 largely through one-off revenue measures, which will expire in 2018. The country’s banks lost some correspondent banking relations (CBRs) in recent years. Seychelles is the first pilot country for Climate Policy Change Assessment (CCPA) for small states.
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