Seychelles. In April, the African Development Bank (AfDB) announced that Seychelles had been granted a US $ 26 million loan. According to COUNTRYAAH, Victoria is the capital of Seychelles which is located in Eastern Africa. The money would help the country build a water supply system on the island of Mahé, which is the largest in the archipelago and where about 90% of the population lives. The same month, Seychelles formally joined the World Trade Organization (WTO).
- Also see AbbreviationFinder.org for Seychelles country abbreviations, including geography, history, economy and politics.
In June, the Seychelles and 26 other African states agreed on a new free trade agreement, the Tripartite Free Trade Area (TFTA). The agreement, which was signed in Egypt, covers countries from Egypt in the north to South Africa in the south. For the agreement to enter into force, it must, among other things, be ratified by the national parliaments.
Elections to the presidential post were held in December. In the first round, incumbent President James Michel, representing Party Lepep, received 48% of the vote while challenger Wavel Ramkalawan of the Seychelles National Party (SNP) received 34%. A second round of elections was held later in the month. This turned out to be very smooth but in the end Michel could be declared a winner after receiving 50.2 percent of the vote against 49.8 percent for Ramkalawan. The turnout was just over 90 percent.
Area and population. – Of the 404 km 2 that make up the surface of this archipelago, 143.7 belong to the island of Mahé, where Victoria, the capital, which has about 10,000 residents, is located. Of the 92 islands and islets that make up the Seychelles, the largest beyond Mahé are Praslin, Silhouette, La Digue, Curieuse and Félicité. In May 1960 the population was estimated at 41,468 residents.
In 1991 the population, made up of nine tenths of French Creoles with minorities of Negroes, Indians and Malays, was 68,000 residents. It registered an average annual increase of 0.8% in the period 1980-91; about 90% is concentrated in Mahé, the remainder mostly in Praslin. With just over 25,000 residents the only important center is the capital, Victoria, located on the northern coast of the island of Mahé.
The average annual income per capita is around 5500 US dollars, which allows the Seychelles to be placed at the top of the ranking of the richest African countries. The economy is mainly based on tourism (which contributes about 50% to the formation of the gross domestic product); some attempts have been made for some time to diversify the productive sectors, above all through the development of the agricultural sector, fisheries and related processing activities. In 1990 there were 103,770 tourists, the majority of whom came from Western Europe, in particular from the United Kingdom, France and Italy.
Economic conditions. – Even now the main crops are coconut palm, whose surface has extended somewhat (111,500 ha), cinnamon and vanilla. The livestock patrimony consisted, in 1950, of 2112 cattle, 1200 goats, 2328 pigs. The production of guano always has a not negligible value. Foreign trade in the five-year period 1954-58 was around 8 million rupees for imports (9,285,947 in 1959) and as many to exports (7,957,223 in 1959).