Seychelles

A lengthy struggle between France and Great Britain for the islands ended in 1814, when they were ceded to the latter. Independence came in 1976. Socialist rule was brought to a close with a new constitution and free elections in 1993. President France-Albert RENE, who had served since 1977, was re-elected in 2001, but stepped down in 2004. Vice President James MICHEL took over the presidency and in July 2006 was elected to a new five-year term.

Economical characteristics

• Currency: Seychellois rupee (ISO code: SCR)
• Central bank discount rate: NA% (31 December 2009)
• Commercial banks lending rate: 15.35% (31 December 2009 )
• Stock of money (M1): $173.1 million (31 December 2008)
• Quasi money (with M1 makes M2): $185.2 million (31 December 2008)

Statistics

Statistic / Year	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008
GDP (million USD)	623	615	622	698	706	700	884	968	912	833
Govt. debt (% of GDP)
Govt. revenue (% of GDP)	44.191	38.736	37.444	41.385	45.730	48.941	44.824	49.626	40.416	40.446
Govt. expenses (% of GDP)	44.425	43.125	41.886	47.366	36.011	45.143	37.717	41.634	41.189	33.323
Debt to revenue (years)

References

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

External links

• Seychelles on Wikipedia
• Central bank of Seychelles
• Studies from the Library of Congress (1986-1998)
• BBC country profile