Country Partnership Framework for the Republic of Seychelles for the Period of FY18-FY23

This Country Partnership Framework (CPF) for Seychelles covers the period FY18-FY23. Seychelles has achieved impressive gains in prosperity and stability in the past decade since confronting a major economic crisis in 2008. The government responded...

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Main Author: World Bank Group
Format: Report
Language:English
Published: World Bank, Washington, DC 2018
Subjects:
Online Access:http://documents.worldbank.org/curated/en/300111532057432476/Seychelles-Country-partnership-framework-for-the-period-of-FY18-FY23
http://hdl.handle.net/10986/30225
id okr-10986-30225
recordtype oai_dc
spelling okr-10986-302252021-05-25T09:17:00Z Country Partnership Framework for the Republic of Seychelles for the Period of FY18-FY23 World Bank Group DEVELOPMENT AGENDA ECONOMIC OUTLOOK POVERTY DEVELOPMENT CHALLENGES WORLD BANK GROUP STRATEGY WORLD BANK GROUP PROGRAM RISK MANAGEMENT RESULTS MATRIX CONSTRAINTS PRIORITIES PORTFOLIO DEBT INEQUALITY This Country Partnership Framework (CPF) for Seychelles covers the period FY18-FY23. Seychelles has achieved impressive gains in prosperity and stability in the past decade since confronting a major economic crisis in 2008. The government responded to the crisis with a wide-ranging reform program supported by generous debt relief that focused on liberalization of the trade and exchange regimes, significant and sustained fiscal consolidation underpinned by reductions in public employment and subsidies, and a reduction in the state’s role in the economy to boost private sector development. Along with the International Monetary Fund (IMF), the World Bank Group (WBG) supported Seychelles in managing the crisis and regaining stability. The CPF is grounded in the findings of a WBG Systematic Country Diagnostic1 (SCD) that was finalized in July 2017. The SCD assesses the remaining institutional constraints and priorities to bolster inclusion in a sustainable manner. The SCD shows that progress during the last decade has mostly benefitted the more skilled population, and that enhancing inclusion requires greater attention to the quality of education and social assistance The CPF is consistent with the principles for international Bank for Reconstruction and Development (IBRD) engagement in countries above the Graduation Discussion Income (GDI) and the Forward Look on small states. The CPF puts forward a flexible approach for the WBG’s program that is appropriate for addressing key institutional gaps and buttressing the resilience of the economy. The CPF focuses on strengthening institutions to foster inclusive and sustainable prosperity through a highly selective framework centered on two focus areas. The first focus area, Sustainable Growth for Shared Prosperity, seeks the retooling of tourism and fisheries, the core sectors of the economy, to open opportunities for local business to generate higher value-added and better paying employment opportunities, especially, among the bottom 40 percent of the income distribution. The second focus area, Fostering Inclusion and Public Sector Performance, supports the government’s efforts to reorient its significant investment in social assistance towards investment in human capital, especially the bottom 40 percent 2018-08-15T16:53:25Z 2018-08-15T16:53:25Z 2018-06-18 Report http://documents.worldbank.org/curated/en/300111532057432476/Seychelles-Country-partnership-framework-for-the-period-of-FY18-FY23 http://hdl.handle.net/10986/30225 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Country Assistance Strategy Document Africa Seychelles
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic DEVELOPMENT AGENDA
ECONOMIC OUTLOOK
POVERTY
DEVELOPMENT CHALLENGES
WORLD BANK GROUP STRATEGY
WORLD BANK GROUP PROGRAM
RISK MANAGEMENT
RESULTS MATRIX
CONSTRAINTS
PRIORITIES
PORTFOLIO
DEBT
INEQUALITY
spellingShingle DEVELOPMENT AGENDA
ECONOMIC OUTLOOK
POVERTY
DEVELOPMENT CHALLENGES
WORLD BANK GROUP STRATEGY
WORLD BANK GROUP PROGRAM
RISK MANAGEMENT
RESULTS MATRIX
CONSTRAINTS
PRIORITIES
PORTFOLIO
DEBT
INEQUALITY
World Bank Group
Country Partnership Framework for the Republic of Seychelles for the Period of FY18-FY23
geographic_facet Africa
Seychelles
description This Country Partnership Framework (CPF) for Seychelles covers the period FY18-FY23. Seychelles has achieved impressive gains in prosperity and stability in the past decade since confronting a major economic crisis in 2008. The government responded to the crisis with a wide-ranging reform program supported by generous debt relief that focused on liberalization of the trade and exchange regimes, significant and sustained fiscal consolidation underpinned by reductions in public employment and subsidies, and a reduction in the state’s role in the economy to boost private sector development. Along with the International Monetary Fund (IMF), the World Bank Group (WBG) supported Seychelles in managing the crisis and regaining stability. The CPF is grounded in the findings of a WBG Systematic Country Diagnostic1 (SCD) that was finalized in July 2017. The SCD assesses the remaining institutional constraints and priorities to bolster inclusion in a sustainable manner. The SCD shows that progress during the last decade has mostly benefitted the more skilled population, and that enhancing inclusion requires greater attention to the quality of education and social assistance The CPF is consistent with the principles for international Bank for Reconstruction and Development (IBRD) engagement in countries above the Graduation Discussion Income (GDI) and the Forward Look on small states. The CPF puts forward a flexible approach for the WBG’s program that is appropriate for addressing key institutional gaps and buttressing the resilience of the economy. The CPF focuses on strengthening institutions to foster inclusive and sustainable prosperity through a highly selective framework centered on two focus areas. The first focus area, Sustainable Growth for Shared Prosperity, seeks the retooling of tourism and fisheries, the core sectors of the economy, to open opportunities for local business to generate higher value-added and better paying employment opportunities, especially, among the bottom 40 percent of the income distribution. The second focus area, Fostering Inclusion and Public Sector Performance, supports the government’s efforts to reorient its significant investment in social assistance towards investment in human capital, especially the bottom 40 percent
format Report
author World Bank Group
author_facet World Bank Group
author_sort World Bank Group
title Country Partnership Framework for the Republic of Seychelles for the Period of FY18-FY23
title_short Country Partnership Framework for the Republic of Seychelles for the Period of FY18-FY23
title_full Country Partnership Framework for the Republic of Seychelles for the Period of FY18-FY23
title_fullStr Country Partnership Framework for the Republic of Seychelles for the Period of FY18-FY23
title_full_unstemmed Country Partnership Framework for the Republic of Seychelles for the Period of FY18-FY23
title_sort country partnership framework for the republic of seychelles for the period of fy18-fy23
publisher World Bank, Washington, DC
publishDate 2018
url http://documents.worldbank.org/curated/en/300111532057432476/Seychelles-Country-partnership-framework-for-the-period-of-FY18-FY23
http://hdl.handle.net/10986/30225
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