01920cas a2200241 a 4500 AALejournalIMF013742 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484384404 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. African Dept. Seychelles : 2013 Article IV Consultation, Seventh Review Under the Extended Arrangement and Request for Modification of Performance Criterion. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (83 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This staff report discusses Seychelles 2013 Article IV Consultation, Seventh Review Under the Extended Arrangement and Request for Modification of Performance Criterion. The repayment of domestic debt, a preference for foreign financing, and shallow domestic financial markets have resulted in significant structural rupee liquidity in the banking system. Tourism has been the main driver of growth, but there is a tension with the number of tourists the islands can absorb. Despite the challenging global environment, tourist arrivals have grown strongly, with diversification toward nontraditional markets more than offsetting stalling European arrivals. The Seychellois rupee is broadly in line with medium-term fundamentals, and tourism remains competitive among peers. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2013/202 Full text available on IMF http://elibrary.imf.org/view/journals/002/2013/202/002.2013.issue-202-en.xml IMF e-Library