of
much needed hard currency. Attempts to diversify into
non-traditional agriculture exports such as flowers and vegetables
have been stymied by a lack of adequate transportation
infrastructure. Despite Rwanda's fertile ecosystem, food production
often does not keep pace with population growth, requiring food to
be imported. Rwanda continues to receive substantial aid money and
was approved for IMF-World Bank Heavily Indebted Poor Country (HIPC)
initiative debt relief in late 2000. But Kigali's high defense
expenditures cause tension between the government and international
donors and lending agencies.

Saint Helena
The economy depends largely on financial assistance
from the UK, which amounted to about $5 million in 1997 or almost
one-half of annual budgetary revenues. The local population earns
income from fishing, the raising of livestock, and sales of
handicrafts. Because there are few jobs, 25% of the work force has
left to seek employment on Ascension Island, on the Falklands, and
in the UK.

Saint Kitts and Nevis
Sugar was the traditional mainstay of the
Saint Kitts economy until the 1970s. Although the crop still
dominates the agricultural sector, activities such as tourism,
export-oriented manufacturing, and offshore banking have assumed
larger roles in the economy. As tourism revenues are now the chief
source of the islands' foreign exchange, a decline in stopover
tourist arrivals following the 11 September 2001 terrorist attacks
has eroded government finances. The opening of a 1,000+ bed Marriott
hotel in February 2003 was expected to bring in much-needed revenue.

Saint Lucia
Changes in the EU import preference regime and the
increased competition from Latin American bananas have made economic
diversification increasingly important in Saint Lucia. The island
nation has been able to attract foreign business and investment,
especially in its offshore banking and tourism industries. The
manufacturing sector is the most diverse in the Eastern Caribbean
area, and the government is trying to revitalize the banana
industry. Economic fundamentals remain solid.

Saint Pierre and Miquelon
The inhabitants have traditionally earned
their livelihood by fishing and by servicing fishing fleets
operating off the coast of Newfoundland. The economy has been
declining, however, because of disputes with Canada over fishing
quotas and a stea