Central Bank of Seychelles - Annual Report 2006

The economy of the Seychelles grew by 5.3% in 2006, boosted by a buoyant tourist industry.

Arrivals improved by more than 9% on 2005 figures. The country's heavily oversubscribed sovereign bond issue raised $200 million when it floated on the London market in September 2006. The funds raised were used to repay loans taken with the African Development Bank, the World Bank and the European Investment Bank.

But, despite these successes, the country's foreign exchange problems remained: "Throughout

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