Currencies by Country:

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.

Unemployment

The latest unemployment rate for 1998 is 9.99%.

Political Structure

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Currency Details

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?

Political Structure

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.

Prominent Figures

N/A

Key Economic Factors

Economic Overview:

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.

Industries:

Construction, crafts (namely furniture, lacework, fancy woodwork) and fishing.

Agricultural Products:

Corn, potatoes, vegetables, timber, fish and crawfish (on Tristan da Cunha).

Export Commodities:

Fish, coffee and handicrafts.

Import Commodities:

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.

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