FINANCIAL STABILITY REPORTS

Financial stability has risen in prominence globally in recent years, becoming an important policy objective alongside price stability and fiscal sustainability. The importance of financial stability emanates from the fact that it is an important pre-condition to sustainable economic growth.
Recognising the importance of financial stability for the country, the Financial Stability Committee (FSC) was established in 2016, by order of the President of the Republic. The FSC is chaired by the Governor of the Central Bank of Seychelles (CBS) and includes members from CBS, the Ministry responsible for Finance, the Financial Services Authority (FSA), and the Financial Intelligence Unit (FIU). Its primary role is to uphold domestic financial stability. The FSC presents its Financial Stability Report for 2023. This edition focuses on providing an overview of the domestic financial stability framework and the systemic risks faced by the country’s financial system. To note, this is the first report published under the Financial Stability Act, 2023, and is jointly prepared by the member institutions of the FSC.