St. Helena

The economy depends largely on financial assistance from the UK, which amounted to about $27 million in FY06/07 or more than twice the level of annual budgetary revenues. The local population earns income from fishing, raising livestock, and sales of handicrafts. Because there are few jobs, 25% of the work force has left to seek employment on Ascension Island, on the Falklands, and in the UK.

The nation’s economy is dependent on financial aid from the UK totaling about $27 million during the fiscal year 2006 - 2007, an amount that’s more than twice of Saint Helena’s annual revenue. Aside from fishing, livestock, and handicrafts, the island nation also produces the most expensive coffee in the world. In addition, Saint Helena is known for the Tungi Spirit made from the Opuntia ficus-indica fruit which is endemic to the island. As there are only a few jobs available on the island, about 25% of its workers migrate to its neighboring islands such as Ascension Island, the Falklands, and the United Kingdom. 

Saint Helena uses the Saint Helena pound as its currency, although the British pound sterling and the South African rand were also circulating in the island nation. A set of banknotes was released in 1976 by the Government of Saint Helena Currency Board. These banknotes bear a picture of Queen Elizabeth II and the emblem of the East India Company that reflects flags, lions, and a shield. Another family of notes was introduced in 2004 with Queen Elizabeth II's new portrait.

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