a variety of
goods from food to the newest electronic gadgets. The SCIC has
opened Mogadishu's main port and airport - closed for 15 years - and
now controls most of the ports and airfields in southern Somalia.
Hotels continue to operate, and militias provide security. The
ongoing civil disturbances and clan rivalries, however, have
interfered with any broad-based economic development and
international aid arrangements. Somalia's arrears to the IMF
continued to grow in 2006. Statistics on Somalia's GDP, growth, per
capita income, and inflation should be viewed skeptically. In late
December 2004, a major tsunami caused an estimated 150 deaths and
resulted in destruction of property in coastal areas.

South Africa
South Africa is a middle-income, emerging market with
an abundant supply of natural resources; well-developed financial,
legal, communications, energy, and transport sectors; a stock
exchange that ranks among the 10 largest in the world; and a modern
infrastructure supporting an efficient distribution of goods to
major urban centers throughout the region. However, growth has not
been strong enough to lower South Africa's high unemployment rate,
and daunting economic problems remain from the apartheid era -
especially poverty and lack of economic empowerment among the
disadvantaged groups. South African economic policy is fiscally
conservative, but pragmatic, focusing on targeting inflation and
liberalizing trade as means to increase job growth and household
income.

South Georgia and the South Sandwich Islands
Some fishing takes
place in adjacent waters. There is a potential source of income from
harvesting finfish and krill. The islands receive income from
postage stamps produced in the UK, sale of fishing licenses, and
harbor and landing fees from tourist vessels. Tourism from
specialized cruise ships is increasing rapidly.

Southern Ocean
Fisheries in 2003-04 landed 136,262 metric tons, of
which 87% (118,166 tons) was krill and 8% (11,182 tons) Patagonian
toothfish, compared to 142,555 tons in 2002-03 of which 83% (117,728
tons) was krill and 12% (16,479 tons) Patagonian toothfish
(estimated fishing from the area covered by the Convention of the
Conservation of Antarctic Marine Living Resources (CCAMLR), which
extends slightly beyond the Southern Ocean area). International
agreements were adopted in late 1999 to reduce illegal