blic of Yugoslavia (now Serbia and Montenegro) according to
United Nations Security Council Resolution 1244, is largely
autonomous under United Nations Interim Administration Mission in
Kosovo (UNMIK) and is greatly dependent on the international
community and the diaspora for financial and technical assistance.
The euro and the Yugoslav dinar are official currencies, and UNMIK
collects taxes and manages the budget. The complexity of Serbia and
Montenegro political relationships, slow progress in privatization,
legal uncertainty over property rights, and scarcity of
foreign-investment are holding back Serbia and Montenegro's economy.
Arrangements with the IMF, especially requirements for fiscal
discipline, are an important element in policy formation. Severe
unemployment remains a key political economic problem.

Seychelles
Since independence in 1976, per capita output in this
Indian Ocean archipelago has expanded to roughly seven times the old
near-subsistence level. Growth has been led by the tourist sector,
which employs about 30% of the labor force and provides more than
70% of hard currency earnings, and by tuna fishing. In recent years
the government has encouraged foreign investment in order to upgrade
hotels and other services. At the same time, the government has
moved to reduce the dependence on tourism by promoting the
development of farming, fishing, and small-scale manufacturing. A
sharp drop illustrated the vulnerability of the tourist sector in
1991-92 due largely to the Gulf war, and once again following the 11
September 2001 terrorist attacks on the US. Other issues facing the
government are the curbing of the budget deficit, including the
containment of social welfare costs, and further privatization of
public enterprises. Growth slowed in 1998-2002, due to sluggish
tourist and tuna sectors. Also, tight controls on exchange rates and
the scarcity of foreign exchange have impaired short-term economic
prospects. The black market value of the Seychelles rupee is half
the official exchange rate; without a devaluation of the currency
the tourist sector should remain sluggish as vacationers seek
cheaper destinations such as Comoros, Mauritius, and Madagascar.

Sierra Leone
Sierra Leone is an extremely poor African nation with
tremendous inequality in income distribution. It does have
substantial mineral, agricultural, and fishery reso