Between 1976 and the mid-2000s, Seychelles had transformed itself from a poor subsistenceeconomy into a high middle income country with low levels of poverty and many socialindicators comparable to Organisation for Economic Co-operation and Development (OECD)countries. However, this growth could not be sustained and faced with a growing internationalfinancial crisis, severe shortages of foreign exchange resulted in the government defaulting inits...
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