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Seychelles

Yearbook 1996

Seychelles. According to Countryaah.com, the Government's Economic Development Act (EDA) adopted in November 1995 was met in February by protests from the UK, France and the US. Under the EDA, every person who invested at least $ 10 million in the country was guaranteed immunity from being expelled and having their assets seized. That guarantee was described by the G7 Group's Financial Action Task Force as "a serious threat to the world's financial system". This prompted the Seychelles government, led by President France Albert René, to pass legislation that would prevent the EDA from being used to "launder" illegal money.

1996 Seychelles
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