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The International Monetary Fund (IMF) has commended the Central Bank of Seychelles for its transparency practices as the bank sets a high benchmark for transparency, given the economic, and financial development and literacy circumstances of Seychelles
The International Monetary Fund (IMF) has commended the Central Bank of Seychelles for its transparency practices as the bank sets a high benchmark for transparency, given the economic, financial development, and literacy circumstances of Seychelles.
The report also noted that despite constrained human capital resources, CBS has taken commendable actions to facilitate an open and dynamic dialogue with key stakeholders. The CBS took the lead in communications on extraordinary support programmes during the COVID-19 pandemic, engaging with the public using plain language and various communication tools.
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CBS Governor Caroline Abel said that Seychelles had become one of the early adopters of the Central Bank Transparency Code in 2020 and expressed the commitment of the bank to proactively disclose information to the public in line with the Access to Information legislation. The IMF review was conducted from June 23 to July 5 at CBS’ request following its adoption of the IMF Central Bank Transparency Code in August 2020. The bank’s governance, policies, operations, outcome, and official relations were evaluated.
