Public Debt Management Act

Act 32 of 2008

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Public Debt Management Act
Seychelles

Public Debt Management Act

Act 32 of 2008

  • Commenced on 29 December 2008
  • [This is the version of this document as it was at 30 June 2012 to 27 November 2022.]
[Act 32 of 200; Act 31 of 2009; Act 2 of 2012]

Part I – Preliminary

1. Short title

This Act may be cited as the Public Debt Management Act.

2. Interpretation

In this Act—advance” means a loan to the Government from the Central Bank payable within a period of less than one year in accordance with section 40 of the Central Bank of Seychelles Act, 2004;bill” means a zero-coupon debt instrument with a maturity period of twelve months or less;bond” means an interest-bearing debt instrument with a maturity period of more than one year;book entry system” means a computerized system established or otherwise authorized by the Minister, to register, for the account of holders, the issuance, account status, servicing and redemption of Government securities;borrowing plan” means a schedule of anticipated Debt contraction over the forthcoming fiscal year indicating the size, type and repayment terms of the anticipated debt;Central Bank” means the Central Bank of Seychelles established by the Central Bank of Seychelles Act, 2004;debt and budget execution report” means reports that detail the national debt and guarantees ledger, the level of public debt and the position of the guarantee issued by the Government and the performance to date of the existing debt strategy, as well as a report on the use of funds appropriated for debt service;debt management” means the policy and operational functions relating to raising of debt, issuing of guarantees, discharging of obligations and issues emanating therefrom, and other measures intended to achieve the objectives of the debt strategy;Debt Strategy” means a strategy that specifies desired characteristics of public debt and the tools required to achieve such characteristics;foreign debt” means any loan or debt security raised or issued by the Government or a parastatal organization from outside the Republic;”;force majeure” means a natural disaster, emergency, or major economic slow-down requiring policies that lead to exceeding a previously established limit on the Public Debt in relation to the gross domestic product;gross domestic product” means the sum of value added of goods and services produced within the Republic;guarantee” means the potential liability assumed by the Republic that is contingent on the financial obligation of another legal person and becomes public debt when the party responsible for the payment of the financial obligation fails to make payment when due;local debt” means any loan or debt security raised, issued or sold by the Government or a parastatal organisation within the Republic;Minister” means the minister responsible for financial matters; sandMinistry” is construed accordingly;National Committee” means the National Debt Management Committee established under section 17;parastatal organisation” means a statutory corporation or body or limited liability company which is directly or ultimately under the control of the Government or of any other body which is carrying out a governmental function;public debt” means any debt incurred in or outside Seychelles through the raising of loans, the issuing or sale securities, overdrafts or any other means, by the Government and includes advances from the Central Bank to the Government;security” means any debt instrument issued under the authority of the Minister as evidence of a local or foreign debt raised under this Act and includes bonds, and bills issued under section 9;service cost” in respect of any financial year, in relation to any Debt means the aggregate of the payment required to be made in respect of the debt during the financial year, where such payment is of interest or is towards the repayment of the debt.suppliers credit” means financing advanced to the buyer by the supply of goods or services;Technical Committee” means the Technical Debt Management Committee established under section 23;

3. Administration of Act

(1)The powers of the Minister under this Act shall be exercised in accordance with the approval of the President.
(2)The Minister may, by Order published in the Gazette, delegate to any public officer specified in the order —
(a)his or her function under this Act relating to negotiating a debt;
(b)the authority to execute on behalf of the Government any agreement or other instrument relating to a debt raised or guarantee given, under this Act.**Those powers were delegated to the Principal Secretary responsible for Finance (on the 24th August 2009 by S.I 68 of 2009) for the execution of the Loan Agreement, between the Republic of Seychelles and African Development Bank (Development Budget Support for Economic Government Reform Program (EGRP), on behalf of the Government of Seychelles.

Part II – Debts

Foreign debt

4. Authority to raise foreign debt

(1)Subject to the provisions of this Act and on the advice of the National Committee, the Minister has the exclusive right to, for and on behalf of the Republic, raise from outside the Republic, upon such terms and conditions as to interest, repayment or otherwise as may be negotiated by the Minister, debts of such sums which in the opinion of the Minister are necessary to defray expenditure which may lawfully be defrayed.
(2)The authority conferred upon the Minister by subsection (1) shall be exercised in accordance with the Debt Strategy and borrowing plan referred to in section 29(1)(a).

5. Payment due in respect of foreign asset

Where the Government with the approval of the Minister acquires any asset under an agreement which provides for payment for such asset to be made outside the Republic subsequent to the date of the acquisition of the asset, the sum of money payable under such agreement shall, for the purposes of this section, be deemed to be debt raised by the Minister outside the Republic.

6. Moneys borrowed to be paid into Consolidated Fund

(1)Subject to subsections (2), (3) and (4) all monies raised by contracting foreign debt under section 4 shall be paid into the Consolidated Fund.
(2)Subsection (1) shall not apply to any sum of money deemed to have been borrowed in accordance with section 5;
(3)Where a foreign debt has been raised for any development project for which a special fund has been established under the Development Loans Act, 1977, or section 7 of the Public Finance Act, 1996 the Minster may, by order published in the Gazette, direct that the whole or such part of the amount of the loan as the Minister may specify shall be paid into the fund;
(4)Where any foreign debt has been raised for the purpose of a parastatal organisation, the Minister may, by Order published in the Gazette, direct that the whole or such part of the amount of the debt as the Minister may specify, shall be paid into a special fund established for that purpose and every fund so established shall be deemed to be a fund established under section 8 of the Public Finances Act and shall be regulated in the accordance with that Act.

7. Power of Minister to repay, convert and consolidate loans or debt security

(1)The Minister may, with the consent of the lender and upon such terms and conditions as the Minister may determine—
(a)repay any loan prior to the redemption date of that loan, or loan Debt Security,
(b)convert the terms of a loan; or
(c)consolidate two or more loans or Debt Securities into a single loan or security or replace a loan or security by a different form of debt.
(2)The Minister shall, in exercising the powers conferred upon him or her under subsection (1), have regard to the interests of sustainable public debt management.

Local debt

8. Authority to raise local debt

(1)Subject to the provisions of this Act and on the advice of the National Committee, the Minister has exclusive right to, for and on behalf of the Government, in the manner provided for in this Act, raise debt from within the Republic of such sums which in the opinion of the Minister are necessary to defray expenditures which may be lawfully defrayed.
(2)The authority conferred upon the Minister by subsection (1) shall be exercised in accordance with the Debt Strategy and borrowing plan referred to in section 29(1)(a).

9. Local loans may be raised by issue of bills, bonds or stock

(1)A local Debt may be raised by —
(b)the issue, by the Minister, of Government bills, bonds; or
(c)any other method consistent with the Debt Strategy and borrowing plan that the Minister considers appropriate.
(2)Nothing in sub-section (1) shall affect stocks issued on or before the date of coming into operation of this section.

10. Conditions for issue of securities

Where a local debt is raised under section 8 of this Act—
(a)loans shall be raised upon the best and most favourable terms and conditions as may be advised by the National Committee;
(b)the issued securities shall, to the best possible extent, be auctioned through market-based procedures;
(c)all treasury bills and bonds issued on behalf of the Government maybe traded or transferred in a manner consistent with regulations governing securities, trades, and transfer;
(d)a security issued by the Government, shall be held by investors in book entry system, the system of which shall be maintained by the Central Bank or by whoever conducts security auctions on behalf of the Government;
(e)treasury bills issued may provide for maturity at a date not later than one year after their date of issue;
(f)bonds shall be redeemable at a par on a date to be named when issuing them;
(g)on the date appointed for the redemption of a security or any part of the security, all the interest on the principal moneys represented thereby shall cease to accrue whether payment of the principal has been demanded or not;
(h)interest on the securities, if payable, shall be paid quarterly or at such longer intervals as the Minister may direct;
(i)subject to section 34(1)(b) of the Central Bank of Seychelles Act, 2004, the Government may, on such terms and conditions as may be agreed with the Central Bank, appoint the Central Bank as agent to undertake issue and management of securities;
(j)stocks, bonds and bills issued under this Act may be given in pledge in all civil and commercial transactions and such pledging shall be proved by a transfer inscribed in a special register kept for that purpose approved by the National Committee.

11. Exemption from stamp duty

No stamp duty shall be payable on trading and transferring Government Debt Securities.

12. Other conditions for issue of securities

The Minister may, at the time of issue of any bills, bonds or stock, impose conditions, not inconsistent with this Act, or any other written law governing the securities market as to any of the following matters−
(a)the price of issue of the security;
(b)the denominations in which the security will be issued redeemed and transferred;
(c)the rate of interest;
(d)in the case of bonds, the rates of capital appreciation which may accrue to the principal moneys;
(e)the times and places of the repayment of the principal and payment of interest;

13. Interest subject to withholding tax

Any interest on bills, bonds and stock shall be deemed to be interest for the purposes of the Business Tax Act, and the provisions of that Act relating to withholding tax shall apply to such interest unless exempted by any order made under that Act.

13A.

(1)Notwithstanding any other provisions of Part II the Minister may raise a debt by the issue of bills and bonds for the exclusive use of monetary policy of the Central Bank.
(2)The terms and conditions of the bills and bonds issued under subsection (1) shall be determined by the Ministry and the Central Bank.
(3)The proceeds of the bills and bonds shall be held in an account with the Central Bank.

Part III – Guarantees

14. Authority to guarantee loans

(1)Where on the advice of the National Committee, the Minister is satisfied that it is in the public interest that the repayment of any principal money and the payment of the interest and other charges on any Debt raised either within or outside the Republic, requires a Government guarantee, the Minister may issue such a guarantee for and on behalf of the Government.
(2)The authority conferred upon the Minister by subsection (1) shall be exercised—
(a)in accordance with the Debt Strategy and borrowing plan referred to in section 29(1)(a);
(b)so as to ensure that the net amount guaranteed in any financial year does not exceed the ceiling established by the National Committee in respect of guarantees to be given by the Government in the financial year;
(c)subject to the recipient of the guarantee demonstrating to the satisfaction of the National Committee its repayment capacity.

15. Body benefiting from guarantee to reimburse Government all disbursements

(1)Where any guarantee is given under section 14, the parastatal organisation for whose benefit the guarantee is given shall reimburse the Government, in the manner that the Minister may direct—
(a)all sums of money which the Government has paid to fulfil the guarantee;
(b)all expenses which the Government has incurred in relation to the guarantee; and
(c)such interest or service charge in relation to any sum of money referred to in paragraph (a) or (b).
(2)All moneys received under subsection (1) shall be paid into the Consolidated Fund.
(3)The National Committee shall issue guidelines on the method of calculating guarantee fees or the need to make provision for Government guarantees.

Part IV – Grants

16. Authority to receive grants

(1)The Minister shall have the authority to receive for and on behalf of the Government any grant made out to the Government guarantees by any Foreign Government or other person.
(2)Section 6 shall apply, subject to necessary modifications, in relation to any sum of money received by the Government by way of a grant.

Part V – Debt Management Committees

17. Establishment of National Debt Management Committee

There is established the National Debt Management Committee.

18. Functions of National Committee

The functions of the National Committee are to—
(a)advise the Minister on matters relating to debt management including matters relating to external and domestic borrowing, issuing of government guarantees and acceptance of grants on behalf of Government;
(b)advise on the formulation of a Debt Strategy and an annual borrowing plan;
(c)monitor the implementation of the Debt Strategy and borrowing plan approved by the Government and by the National assembly for the ensuing quarter;
(d)prepare quarterly debt and budget execution reports;
(e)monitor the activities relating to debt management, of all Government departments and institutions involved in the management of debt, guarantees and grants; and
(f)advise on the measures to be taken against any person for non-compliance with the provisions of this Act.

19. Composition of National Committee

The National Committee consists of—
(a)the Principal Secretary of the Ministry who shall be the Chairperson;
(b)the Principal Secretary of the Ministry of Foreign Affairs;
(c)the Governor of the Central Bank of Seychelles;
(d)the Attorney General;
(e)the Director General of the Treasury section of the Ministry; and
(f)the Director of the Financial Planning Control Division of the Ministry.

20. Meetings of National Committee

(1)Subject to subsection (2) the National Committee shall meet whenever necessary or expedient as may be advised by the Technical Committee.
(2)The National Committee shall meet at least four times a year.

21. Proceedings of National Committee

The National Committee regulates its own proceedings.

22. Secretariat of National Committee

(1)The administrative work of the National Committee shall be carried out by a Secretariat.
(2)The Secretariat shall consist of not less than three and not more than five members, appointed from–
(a)among the members of the Technical Committee;
(b)the Ministry of Finance; and
(c)the Central Bank.

23. Establishment of Technical Debt Management Committee

(1)There is established a sub-committee of the National Committee to be known as the Technical Debt Management Committee.
(2)The function of the Technical Committee is to provide technical advice to the National Committee in respect of the functions of the National Committee under section 18.
(3)The co-chairpersons of the Technical Committee are Deputy Governor of the Central Bank and the Director of Public Debt of the Ministry.
(4)The members of the Technical Committee are the heads of the units involved in debt management from the institutions specified in section 19.

24. Sub-committees

Where the need arises and it is in the interest of sustainable public debt management, the National Committee may form other sub-committees to consider and report to the National Committee on any matter referred to it by that Committee.

Part VI – Miscellaneous

25. Amounts due on loan or under guarantee to be charge on Consolidated Fund

Any sum of money due from the Government—
(a)in respect of any foreign or local debt either by way of repayment or payment of interest;
(b)by way of interest on or otherwise in respect of any debt security issued under and in accordance with section 9;
(c)in respect of any guarantee given under section 14, shall be charge on and be paid out of the Consolidated Fund without further appropriation.

26. Obligation of Government to pay debt

Any debt incurred in or outside Seychelles by the Government or a parastatal organisation, and which is wholly or partly guaranteed by the Government shall constitute a debt due by the Republic and shall carry an absolute and unconditional commitment by the Government to the timely payment of the principal of the debt, and the interest on it, in accordance with the terms and conditions under which the debt was contracted.

27. Status of claims in respect of Government debt

(1)Notwithstanding any other written law, all Government debt, regardless of its nature or the date on which it was incurred, shall have equal status in relation to claims in respect of payment of the principal and interest of that debt, and shall constitute a first claim against the Consolidated Fund into which the funds are deposited.
(2)Claims referred to in subsection (1) shall not be subordinated to any other claim, except for obligations made in the name of the Republic and ratified by the National Assembly under appropriate treaties or conventions.

28. Loans and guarantees to be published

An agreement for a debt raised or guarantee given under this Act shall not have effect until there is published in the Gazette, an Order, made by the Minister, giving particulars of—
(a)the amount of the debt or guarantee;
(b)the terms for repayment of the debt or guarantee;
(c)the name of the Government institution or person incurring the debt or receiving the guarantee;
(d)the interest (if any) payable on the debt;
(e)the manner in which the debt shall be accounted for; and
(f)such other particulars of the debt guarantee as the Minister may decide to include in the Order.

29. Responsibility of Minister with regards to plans and reports

(1)The Minister shall, within three months before the commencement of every financial year cause to be prepared for approval by the Government—
(a)a Debt Strategy which shall include—
(i)its rationale;
(ii)description of objectives for debt management and the scope and types of risks being managed;
(iii)details of the current debt portfolio including debt ratio to gross domestic product and debt composition; and
(iv)the debt management going forward including fiscal and debt projections, assumptions and constraints on the debt choice and the desired debt composition;
(b)an annual borrowing plan which shall include–
(i)total borrowing needs for the next financial year;
(ii)details of the source of funding; and
(iii)overall net increase or decrease in public debt.
(2)The Minister shall, within three months after the end of every financial year cause to be prepared for approval by the Government, an annual debt and budget execution report which shall include–
(a)details of the national debt and guarantee ledger;
(b)the level of public debt and position of guarantee issued by the Government; and
(c)the position of the use of funds appropriated for debt repayment.
(3)The Minister shall cause to be published in such manner as the Minister thinks sufficient and proper to ensure publicity, the Debt Strategy and the debt and budget execution report, approved under this section.

30. Minister to specify certain particulars in annual estimates

The Minister shall, in the annual estimates of the public revenue and expenditure submitted to the National Assembly under section 29(1)(a), specify the amount required to meet the service cost on all outstanding debt whether by repayment of principal or payment of interest or other charges incurred on the debt during the financial year to which such estimates relate, and the amount expected to be raised from debt grants during that year.

31. Authority of Minister to be exercised in accordance with National Debt Strategy

The authority conferred upon the Minister by sections 4 and 8 shall be exercised in line with the debt management objectives of the Debt Strategy.

32. Power of Minister to make regulations

The Minister may make regulations for the better carrying into effect of the purposes and provisions of this Act and without prejudice to the generality of the foregoing, may provide for—
(a)the method by which any payment in respect of bills or bonds may be made;
(b)fees and charges for any services provided for in this Act;
(c)generally the conditions and manner for the better carrying out of the provisions of this Act.

33. This Act to prevail in case of conflict with other law

Where there is conflict between this Act and any other written law in matters relating to raising of debt, receiving of grants and issuing of guarantees, the provisions of this Act shall prevail.

34. Repeals

The Local Loans Act, the Loans Decree and the Treasury Bills Decree are repealed.

35. Savings and transitional provision

Notwithstanding section 34
(a)all loans, guarantees, advances, bills, bonds and other securities issued under the Local Loans Act, the Loans Decree and the Treasury Bills Decree and subsisting immediately before the commencement of this Act, shall continue to have effect and be binding in the same manner and to the same extent as if they were issued under this Act;
(b)all statutory instruments made under the Local Loans Act, Loans Decree and Treasury Bills Decree shall, to the extent that they are not inconsistent with this Act, continue in force as statutory instruments made under this Act until amended or repealed by a statutory instrument made under this Act.
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History of this document

23 December 2022 amendment not yet applied
30 June 2012 this version
Consolidation
29 December 2008
Commenced

Subsidiary legislation

Title
Date
International Monetary Fund - Extended Fund Facility Debt Order, 2024 Statutory Instrument 99 of 2024 2 December 2024
African Development Bank (Economic Resilience and Green Recovery Support) Loan Agreement Debt (No. 3) Order, 2024 Statutory Instrument 91 of 2024 11 November 2024
Al Salam Bank Seychelles (Guarantee) Loan Agreement Debt Order, 2024 Statutory Instrument 90 of 2024 11 November 2024
Absa Bank (Seychelles) Ltd (Guarantee) Loan Agreement Debt Order, 2024 Statutory Instrument 89 of 2024 11 November 2024
Government of the Russian Federation Debt Restructuring Agreement Debt Order, 2024 Statutory Instrument 88 of 2024 28 October 2024
4.70% 5 Year Treasury Bond Debt Order, 2024 Statutory Instrument 83 of 2024 21 October 2024
3.50% 3 Year Treasury Bond Debt Order, 2024 Statutory Instrument 82 of 2024 21 October 2024
International Bank for Reconstruction and Development Loan Agreement Debt (No. 3) Order, 2024 Statutory Instrument 54 of 2024 2 August 2024
International Bank for Reconstruction and Development Loan Agreement Debt (No. 2) Order, 2024 Government Notice 53 of 2024 2 August 2024
International Bank for Reconstruction and Development Loan Agreement Debt Order, 2024 Statutory Instrument 45 of 2024 17 June 2024
OPEC Fund for International Development Loan Agreement Debt Order, 2024 Statutory Instrument 42 of 2024 27 May 2024
Five Year Development Bank of Seychelles Guarantee of Debt Order, 2024 Statutory Instrument 35 of 2024 13 May 2024
International Monetary Fund-Resilience and Sustainability Facility (RSF) Debt Order, 2024 Statutory Instrument 32 of 2024 6 May 2024
Eastern and Southern African Trade and Development Bank Term Loan Facility Order, 2022 Statutory Instrument 86 of 2022 8 August 2022
International Bank for Reconstruction and Development - Strengthening Quality of the Social Protection System Program Debt Order, 2022 Statutory Instrument 69 of 2022 23 May 2022
International Bank for Reconstruction and Development - Seychelles First Fiscal Sustainability and Climate Resilience Debt, Order 2022 Statutory Instrument 68 of 2022 23 May 2022
5% 7-year Treasury Bond Debt Order, 2022 Statutory Instrument 67 of 2022 23 May 2022
4.5% 6-year Treasury Bond Debt Order, 2022 Statutory Instrument 66 of 2022 23 May 2022
3.75% 5 Year Development Bank of Seychelles Bond Guarantee of Debt Order, 2022 Statutory Instrument 65 of 2022 23 May 2022
3.5% 4-year Treasury Bond Debt Order, 2022 Statutory Instrument 64 of 2022 23 May 2022
2.5% 3-year Treasury Bond Debt Order, 2022 Statutory Instrument 63 of 2022 23 May 2022
Nature Conservancy Debt (Facility A2) Order, 2022 Statutory Instrument 35 of 2022 4 April 2022
Nature Conservancy Debt (Facility A1) Order, 2022 Statutory Instrument 34 of 2022 4 April 2022
Development [Bank] of Seychelles Debt Guarantee Order, 2022 Statutory Instrument 9 of 2022 31 January 2022
African Development Bank - Governance and Economic Reforms Support Program (GERSP) Debt Order, 2021 Statutory Instrument 86 of 2021 30 September 2021
8.25% 7 year Treasury Bond Debt Order, 2021 Statutory Instrument 82 of 2021 16 September 2021
7% 5 year Treasury Bond Debt Order, 2021 Statutory Instrument 81 of 2021 16 September 2021
5.75% 3 year Treasury Bond Debt Order 2021 Statutory Instrument 80 of 2021 16 September 2021
International Bank for Reconstruction and Development (COVID-19 Crisis Response Emergency Development Policy Loan) Debt Order, 2021 Statutory Instrument 43 of 2021 28 June 2021
Seychelles International Mercantile Banking Corporation Ltd., (Trading as Nouvobanq) Debt Guarantee Order, 2021 Statutory Instrument 20 of 2021 2 March 2021
Seychelles Commercial Bank Ltd. Debt Guarantee Order, 2021 Statutory Instrument 19 of 2021 2 March 2021
Mauritius Commercial Bank (Seychelles) Ltd. Debt Guarantee Order, 2021 Statutory Instrument 18 of 2021 2 March 2021
Bank of Ceylon Debt Guarantee Order, 2021 Statutory Instrument 17 of 2021 2 March 2021
Bank of Baroda Debt Guarantee Order, 2021 Statutory Instrument 16 of 2021 2 March 2021
Al Salam Bank Seychelles Ltd., Debt Guarantee Order, 2021 Statutory Instrument 15 of 2021 2 March 2021
10% 7 year Treasury Bond Debt Order, 2021 Statutory Instrument 5 of 2021 25 January 2021
8% 5 year Treasury Bond Debt Order, 2021 Statutory Instrument 4 of 2021 25 January 2021
7% 3 year Treasury Bond Debt Order, 2021 Statutory Instrument 3 of 2021 25 January 2021
International Bank for Reconstruction and Development - Global Environment Facility Debt Order, 2020 Statutory Instrument 147 of 2020 19 October 2020
African Development Bank (Covid 19 Crisis Response Budget Support Programme) Debt Order, 2020 Statutory Instrument 118 of 2020 31 August 2020
Seychelles Commercial Bank Ltd Guarantee Order, 2020 Statutory Instrument 117 of 2020 31 August 2020
Nouvobanq Guarantee Order, 2020 Statutory Instrument 116 of 2020 31 August 2020
Mauritius Commercial Bank (Seychelles) Ltd., Guarantee Order, 2020 Statutory Instrument 115 of 2020 31 August 2020
Delegation of Authority (Public Debt Management) Order, 2020 Statutory Instrument 114 of 2020 31 August 2020
Development Bank of Seychelles Relief Scheme for Micro, Small and Medium Enterprises) Guarantee Order, 2020 Statutory Instrument 113 of 2020 31 August 2020
Bank of Ceylon Guarantee Order, 2020 Statutory Instrument 112 of 2020 31 August 2020
Bank of Baroda Guarantee Order, 2020 Statutory Instrument 111 of 2020 31 August 2020
Al Salam Bank Seychelles Ltd, Guarantee Order, 2020 Statutory Instrument 110 of 2020 31 August 2020
Absa Bank (Seychelles) Limited Guarantee Order, 2020 Statutory Instrument 109 of 2020 31 August 2020
Development Bank of Seychelles Guarantee Order, 2020 Statutory Instrument 97 of 2020 3 August 2020
Housing Finance Company Limited Guarantee Order, 2020 Statutory Instrument 87 of 2020 27 July 2020
12% 7 year Solidarity Bond Order, 2020 Statutory Instrument 74 of 2020 3 June 2020
10% 5 years Solidarity Bond Order, 2020 Statutory Instrument 73 of 2020 3 June 2020
7% 3 year Solidarity Bond Order, 2020 Statutory Instrument 72 of 2020 3 June 2020
Port Victoria Rehabilitation and Extension Debt Guarantee Order, 2019 Statutory Instrument 72 of 2019 17 December 2019
Seychelles Ports Authority Debt Guarantee Order, 2019 Statutory Instrument 57 of 2019 4 October 2019
Blue Bond - 6.5 % Fixed Rate Senior Partially Guaranteed Notes Debt Order, 2019 Statutory Instrument 56 of 2019 30 September 2019
1770 Bond Order, 2019 Statutory Instrument 43 of 2019 8 July 2019
Property Management Corporation Guarantee Order, 2019 Statutory Instrument 29 of 2019 17 May 2019
Five year 6.5% Development Bank of Seychelles Bond, Debt Guarantee Order, 2019 Statutory Instrument 20 of 2019 10 April 2019
Three year 6% Development Bank of Seychelles Bond, Debt Guarantee Order, 2019 Statutory Instrument 19 of 2019 10 April 2019
International Bank for Reconstruction and Development (Third South West Indian Ocean Fisheries Governance and Shared Growth Project) Debt Order, 2018 Statutory Instrument 62 of 2018 1 October 2018
Public Utilities Corporation - Romainville Solar Power Field Project Guarantee Debt Order, 2018 Statutory Instrument 58 of 2018 5 September 2018
Public Debt Management (Delegation of Authority) (No. 2) Order, 2018 Statutory Instrument 40 of 2018 22 June 2018
Delegation of Authority (Public Debt Management) Order, 2018 Statutory Instrument 2 of 2018 12 January 2018
First Regional Development Policy Debt Order, 2017 Statutory Instrument 53 of 2017 18 September 2017
Aldabra Three Year Treasury Bond 6% Debt Order, 2017 Statutory Instrument 43 of 2017 9 August 2017
Seven Year Treasury Bond 7% Debt Order, 2017 Statutory Instrument 41 of 2017 31 July 2017
Five Year Treasury Bond 6.5% Debt Order, 2017 Statutory Instrument 40 of 2017 31 July 2017
Three Year Treasury Bond 6% Debt Order, 2017 Statutory Instrument 39 of 2017 31 July 2017
Housing Finance Company Limited Guarantee Order, 2017 Statutory Instrument 20 of 2017 13 April 2017
Development Bank of Seychelles Guarantee Order, 2017 Statutory Instrument 9 of 2017 22 February 2017
Development Bank of Seychelles Debt Guarantee (Amendment) Order, 2017 Statutory Instrument 8 of 2017 22 February 2017
Small Business Finance Agency (SBFA) Debt Guarantee Order, 2016 Statutory Instrument 2 of 2017 4 January 2017
Seychelles Farmers Marketing Cooperative Debt Order, 2016 Statutory Instrument 77 of 2016 24 October 2016
Development Bank of Seychelles Debt (Guarantee) Order, 2016 Statutory Instrument 60 of 2016 12 September 2016
Saudi Fund for Development Electrification of South Mahe Island Project Second Phase Debt (No. 3) Order, 2016 Statutory Instrument 40 of 2016 13 June 2016
Arab Bank for Development in Africa (BADEA) Improvement of Electricity Network in South Mahe Project Debt (No. 2) Order, 2016 Statutory Instrument 39 of 2016 13 June 2016
African Development Bank Budget Support for the Inclusive Private Sector Development and Competitiveness Programme Phase II (IPSDCP-II) Debt Order, 2016 Statutory Instrument 38 of 2016 13 June 2016
Five Year Development Bank of Seychelles (DBS) Bond 7.5% Guarantee Order, 2016 Statutory Instrument 28 of 2016 25 April 2016
Three Year Development Bank of Seychelles (DBS) Bond 6.5% Guarantee Order, 2016 Statutory Instrument 27 of 2016 25 April 2016
Two Year Development Bank of Seychelles (DBS) Bond 6% Guarantee Order, 2016 Statutory Instrument 26 of 2016 25 April 2016
Development Bank Seychelles Guarantee Order, 2015 Statutory Instrument 51 of 2015 14 October 2015
Nouvobanq Loan for Small Business Finance Agency (SBFA) Debt Order 65 of 2013 (Amendment) Order, 2015 Statutory Instrument 44 of 2015 21 September 2015
International Bank for Reconstruction and Development Debt (No. 17) Order, 2013 (Amendment) Order, 2015 Statutory Instrument 43 of 2015 21 September 2015
African Development Bank Water Augmentation Project Debt (No. 5) Order, 2015 Statutory Instrument 42 of 2015 14 September 2015
International Bank for Reconstruction and Development Disaster Risk Management Development Policy Loan Debt (No. 4) Order, 2015 Statutory Instrument 41 of 2015 14 September 2015
Kuwait Fund for Arab Economic Development Educational Project (No. 3) Order, 2015 Statutory Instrument 31 of 2015 6 July 2015
OPEC Fund for International Development - Perseverance Island Infrastructure Project-Phase II Debt (No. 2) Order, 2015 Statutory Instrument 30 of 2015 6 July 2015
International Bank for Reconstruction and Development Debt Order, 2015 Statutory Instrument 29 of 2015 6 July 2015
Air Seychelles-AVTRADE Aircraft Maintenance Debt Order, 2014 Statutory Instrument 127 of 2014 5 January 2015
Air Seychelles-Engine Lease Finance Corporation Debt Order, 2014 Statutory Instrument 126 of 2014 5 January 2015
Viking Air Limited Restructuring Debt Order, 2014 Statutory Instrument 125 of 2014 5 January 2015
Air Seychelles Debt Order, 2014 Statutory Instrument 124 of 2014 5 January 2015
Public Utilities Corporation Generation Expansion Project Guarantee Debt Order, 2014 Statutory Instrument 72 of 2014 8 October 2014
Ile Du Port Handling Services (IPHS) Project Loan Facilities (Guarantee) Order, 2014 Statutory Instrument 66 of 2014 18 September 2014
Export-Import Bank of India Restructuring Debt Order, 2014 Statutory Instrument 55 of 2014 11 August 2014
Five year 5.5% Treasury Bond Debt Order, 2014 Statutory Instrument 41 of 2014 30 May 2014
National Information Service Agency (Guarantee) (No. 16) Order, 2014 Statutory Instrument 38 of 2014 14 April 2014
Housing Finance Company Ltd Refinancing Loan Debt (No. 15) Order, 2014 Statutory Instrument 37 of 2014 14 April 2014
Five Year Treasury Bond 5.5% Debt Order, 2014 Statutory Instrument 34 of 2014 18 March 2014
Three Year Treasury Bond 4.5% Debt Order, 2014 Statutory Instrument 33 of 2014 18 March 2014
Two Year Treasury Bond 4% Debt Order, 2014 Statutory Instrument 32 of 2014 18 March 2014
Japan Bank for International Cooperation Restructuring Debt (No. 13) Order, 2014 Statutory Instrument 30 of 2014 17 March 2014
French Republic Restructuring (Account No. 10) Debt (No. 12) Order, 2014 Statutory Instrument 29 of 2014 17 March 2014
French Republic Restructuring (Account No. 9) Debt (No. 11) Order, 2014 Statutory Instrument 28 of 2014 17 March 2014
French Republic Restructuring (Account No. 8) Debt (No. 10) Order, 2014 Statutory Instrument 27 of 2014 17 March 2014
French Republic Restructuring (Account No. 7) Debt (No. 9) Order, 2014 Statutory Instrument 26 of 2014 17 March 2014
French Republic Restructuring (Account No. 6) Debt (No. 8) Order, 2014 Statutory Instrument 25 of 2014 17 March 2014
French Republic Restructuring (Account No. 5) Debt (No. 7) Order, 2014 Statutory Instrument 24 of 2014 17 March 2014
Government of the French Republic Restructuring (Account No.4) Debt (No.6) Order, 2014 Statutory Instrument 23 of 2014 17 March 2014
French Republic Restructuring (Account No. 3) Debt (No. 5) Order, 2014 Statutory Instrument 22 of 2014 17 March 2014
French Republic Restructuring (Account No. 2) Debt (No. 4) Order, 2014 Statutory Instrument 21 of 2014 17 March 2014
French Republic Restructuring (Account No. 1) Debt (No. 3) Order, 2014 Statutory Instrument 20 of 2014 17 March 2014
Export-Import Bank of China Restructuring Debt (No. 2) Order, 2014 Statutory Instrument 19 of 2014 17 March 2014
Export Credit Guarantee Department Restructuring Debt Order, 2014 Statutory Instrument 10 of 2014 10 February 2014
International Bank for Reconstruction and Development Debt (No. 17) Order, 2013 Statutory Instrument 3 of 2014 13 January 2014
Development Bank of Seychelles (Guarantee) (No. 16) Order, 2013 Statutory Instrument 2 of 2014 13 January 2014
International Fund for Agricultural Development Debt (No. 14) Order, 2013 Statutory Instrument 77 of 2013 14 November 2013
Development Bank of Seychelles Global Loan VI Debt (No. 13) Order, 2013 Statutory Instrument 73 of 2013 28 October 2013
Government of Abu Dhabi Rescheduling Loan (No. 3015) Debt (No. 13) Order, 2013 Statutory Instrument 66 of 2013 30 September 2013
Nouvobanq Loan for Small Business Finance Agency (SBFA) Debt (No. 12) Order, 2013 Statutory Instrument 65 of 2013 9 September 2013
European Investment Bank (EIB) Debt (No. 11) Order, 2013 Statutory Instrument 45 of 2013 13 May 2013
Export-Import Bank of India Debt (No. 10) Order, 2013 Statutory Instrument 44 of 2013 13 May 2013
Agence Francaise de Development Debt (No.9) Order, 2013 Statutory Instrument 43 of 2013 13 May 2013
International Bank for Reconstruction and Development Debt (No.8) Order, 2013 Statutory Instrument 37 of 2013 22 April 2013
Nedbank Loan 1A and 3A Debt (No. 7) Order, 2013 Statutory Instrument 36 of 2013 22 April 2013
Nedbank Loan 3B Debt (No. 6) Order, 2013 Statutory Instrument 35 of 2013 22 April 2013
Government of the Republic of Germany Restructuring Debt (No.5) Order, 2013 Statutory Instrument 29 of 2013 8 April 2013
Nouvobanq (Guarantee) Order, 2013 Statutory Instrument 28 of 2013 18 March 2013
Government of the United Kingdom Debt Rescheduling Loan (CDC L249003) (No.5) Order, 2013 Statutory Instrument 23 of 2013 11 March 2013
Government of the United Kingdom Debt Rescheduling Loan (1971) (No.4) Order, 2013 Statutory Instrument 22 of 2013 4 March 2013
Government of the United Kingdom Debt Rescheduling Loan (CDC L 249002) (No.3) Order, 2013 Statutory Instrument 21 of 2013 4 March 2013
Southern Sun Africa 2011 Restructuring Debt (No. 2) Order, 2012 Statutory Instrument 64 of 2012 10 December 2012