Piracy Poses Threat To Economy

Although the presence of international navies has gone some way to reducing piracy along the Horn of Africa, there is evidence that the problem is simply being pushed back to the Seychelles. According to Joel Morgan, Minister of the Environment, Natural Resources and Transport, anti-piracy activities cost the country US$9.0mn out of a total budget of US$200mn. In addition to the threat posed to the tourist sector, piracy is having a detrimental impact on the island's fishing industry. Local canning factories, which are among the single largest employers in the Seychelles, have already experienced enforced work stoppages as a result of lower catch volumes.

To read the full article, please choose one of the following options: