Saint Vincent and the Grenadines
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Between 1960 and 1962, Saint Vincent and the Grenadines was a separate administrative unit of the Federation of the West Indies. Autonomy was granted in 1969 and independence in 1979. Economic growth slowed slightly in 2007 after reaching a 10 year high of nearly 7% in 2006, but is expected to remain robust, hinging upon seasonal variations in the agricultural and tourism sectors and a recent increase in construction activity. This lower-middle-income country is vulnerable to natural disasters - tropical storms wiped out substantial portions of crops in 1994, 1995, and 2002. In 2007, the islands had more than 200,000 tourist arrivals, mostly to the Grenadines. Saint Vincent is home to a small offshore banking sector and has moved to adopt international regulatory standards. The government's ability to invest in social programs and respond to external shocks is constrained by its high debt burden - 25 percent of current revenues are directed towards debt servicing. Source: The World Factbook, CIA. |
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Places
Fiji |
Resistance
by native Caribs prevented colonization on St. Vincent until 1719. Disputed
between France and the United Kingdom for most of the 18th century, the island
was ceded to the latter in 1783.