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Seychelles

Seychelles is an archipelago nation of 115 islands in the Indian Ocean, which has 81 000 inhabitants for a surface of 455 km2

Seychelles’ incomes mainly come from touristic activities (120 000 tourists/year) and from fishing; the tuna fishing industry is especially well-developed. The oil transport industry is growing and is now the third greatest income-generating sector.

Seychelles is a country with an intermediate income of the higher section. The level of social development (residences, schooling, and social security benefits) is also very high.

However the financial situation turned sour during the 90’s due to external and internal reasons. Nowadays the country confronts financial difficulties and accumulates debt. The total public debt represents almost 1.400 M$, or 200% of GDP.

The Republic of Seychelles is currently working on a reorganization of its foreign financial relations. A national programme of macroeconomic reforms was launched in July.