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Region:
Central America
and the Caribbean
Capital:
Plymouth (abandoned
in 1997 due to
volcanic activity;
interim
government buildings
have been built
at Brades Estate,
in the Carr's
Bay/Little Bay
vicinity at the
northwest end
of Montserrat)
Population:
9,245 (July 2004
est.)
Surface
Area:
102 sq km
Currency:
East Caribbean
dollar (XCD)
GDP
per capita:
Purchasing Power
Parity - $3,400
(2002 est.)
Background:
Much of this
island was devastated
and two-thirds
of the population
fled abroad because
of the eruption
of the Soufriere
Hills Volcano
that began on
18 July 1995.
Economy
– Overview:
Severe volcanic
activity, which
began in July
1995, has put
a damper on this
small, open economy.
A catastrophic
eruption in June
1997 closed the
airports and
seaports, causing
further economic
and social dislocation.
Two-thirds of
the 12,000 inhabitants
fled the island.
Some began to
return in 1998,
but lack of housing
limited the number.
The agriculture
sector continued
to be affected
by the lack of
suitable land
for farming and
the destruction
of crops. Prospects
for the economy
depend largely
on developments
in relation to
the volcano and
on public sector
construction
activity. The
UK has launched
a three-year
$122.8 million
aid program to
help reconstruct
the economy.
Half of the island
is expected to
remain uninhabitable
for another decade.
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