What is the Saint Helenian Pound (SHP)?
Credit Ratings & Outlook
Sovereign credit ratings play an important part in determining a country’s access to international capital markets, and the terms of that access. Sovereign ratings help to foster dramatic growth, stability, and efficiency of international and domestic markets.
The latest unemployment rate for 1998 is 9.99%.
The Saint Helenian Pound, denoted by SHP, is the official currency used on the island of Saint Helena. Linked to the Pound Sterling, the SHP is produced in the same denominations for both banknotes and coins.
Sovereign Ratings for Saint Helena
Saint Helena is not rated.
What does it look like?
Saint Helena is an overseas territory of the United Kingdom. The government is divided into three branches: the executive, the legislative, and the judicial branches. In the executive branch, the reigning monarch serves as chief of state. The head of government is the Governor and Commander in Chief, who is appointed by the monarch. The cabinet is made up of the Executive Council consisting of the governor, two ex-officio officers, and six elected members of the Legislative Council. The legislative branch is a unicameral Legislative Council with 15 members elected by popular vote to serve four-year terms. The judicial branch is made up of the Supreme Court and the High Court.
Key Economic Factors
The St. Helenian economy has found profound dependence on financial assistance from the UK, which constitutes half of the territory’s annual revenues. St. Helena’s population earns a living through fishing, raising livestock, and selling handicrafts. Due to limited employment opportunities on the island, 25% of the work force has sought employment on Ascension Island, on the Falklands, and in the U.K.
Construction, crafts (namely furniture, lacework, fancy woodwork) and fishing.
Corn, potatoes, vegetables, timber, fish and crawfish (on Tristan da Cunha).
Fish, coffee and handicrafts.
Food, beverages, tobacco, fuel oils, animal feed, building materials, motor vehicles and parts, and machinery and parts.
Major Trading Partners:
US, Tanzania, Indonesia, UK and South Africa.
1 Saint Helena Pound to:
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- Other Currencies Accepted: All major currencies
- Currency Peg:Yes
- Black Market for Currency:No
- Currency Volatility:unknown
- Estimated GDP Per Capita:N/A
- Languages Spoken:N/A