ase in
the inequality of income distribution has hurt the lower ranks of
society since independence. In 2003, the government accepted the
obligations of Article VIII under the International Monetary Fund
(IMF), providing for full currency convertibility. However, strict
currency controls and tightening of borders have lessened the
effects of convertibility and have also led to some shortages that
have further stifled economic activity. The Central Bank often
delays or restricts convertibility, especially for consumer goods.
Potential investment by Russia and China in Uzbekistan's gas and oil
industry would increase economic growth prospects. In November 2005,
Russian President Vladimir PUTIN and Uzbekistan President KARIMOV
signed an "alliance" treaty, which included provisions for economic
and business cooperation. Russian businesses have shown increased
interest in Uzbekistan, especially in mining, telecom, and oil and
gas. In December 2005, the Russians opened a "Trade House" to
support and develop Russian-Uzbek business and economic ties.

Vanuatu
This South Pacific island economy is based primarily on
small-scale agriculture, which provides a living for 65% of the
population. Fishing, offshore financial services, and tourism, with
more than 60,000 visitors in 2005, are other mainstays of the
economy. Mineral deposits are negligible; the country has no known
petroleum deposits. A small light industry sector caters to the
local market. Tax revenues come mainly from import duties. Economic
development is hindered by dependence on relatively few commodity
exports, vulnerability to natural disasters, and long distances from
main markets and between constituent islands. GDP growth rose less
than 3% on average in the 1990s. In response to foreign concerns,
the government has promised to tighten regulation of its offshore
financial center. In mid-2002 the government stepped up efforts to
boost tourism through improved air connections, resort development,
and cruise ship facilities. Agriculture, especially livestock
farming, is a second target for growth. Australia and New Zealand
are the main suppliers of tourists and foreign aid.

Venezuela
Venezuela remains highly dependent on oil revenues, which
account for roughly 90% of export earnings, more than 50% of the
federal budget revenues, and around 30% of GDP. Tax
collection-Venezuela's primary so