Seychelles has the smallest population of any state in Africa, however they hold the distinction of being, per capita, the most highly indebted country in the world according to the World Bank, with total public debt around 122.8% of GDP and ironically Seychelles remains the richest territory in Africa in terms of GDP per capita.
The Seychelles is a totally independent state generating its own income. Because of economic contraction (the economy declined by about 2% in 2004 and 2005 and lost another 1.4% in 2006 according to the IMF) the country was moving downwards in terms of per capita income; however, the economy came roaring back in 2007 growing by 5.3% due in part to the record tourism numbers, but also the booming building and offshore industries which also continue to set records.


