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Seychelles - Country Strategy Paper 2016-2020

26-Feb-2016

The Bank’s Country Strategy Paper (CSP) 2016-2020 for Seychelles was prepared at a time when the country reached high-income status, and when the Government embarked upon an innovative approach to promote the socio-economic development of the country: the concept of the ‘Blue Economy’. Seychelles, a small island developing state with some 94,000 inhabitants (2014), has made enormous progress in recent decades: in 1980, its gross national income (GNI) per capita was USD 2,080, while in July 2015 it reached high-income status, following an average GNI per capita of USD 13,710 in 2013-14. By 2014, it had reached USD 13,990, ranking the country 2nd continent-wide (after Equatorial Guinea). Also, the country’s social indicators are strong: it has the 3rd highest Human Development Index ranking in Africa, 7 out of 8 Millennium Development Goals have been met, and poverty is virtually inexistent. Continued political stability and good governance has been key to this success story, as evidenced by good ratings in relevant indicators.

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