CURIEUSE ISLAND, Seychelles — With deep blue waters, white sand beaches and rich marine life, the tiny island nation of the Seychelles is announcing a pioneering marine conservation plan as part of a debt swap deal with creditors. At the height of its debt crisis in the late 2000s, the Seychelles was one of the world’s top debt-ridden countries. Its sovereign debt peaked at nearly $1 billion, according to the World Bank. While welcoming the deal, the CEO of the Seychelles National Parks Authority warned that certain threats to the Seychelles remain beyond control. The head of the Seychelles’ state-owned oil and gas exploration entity, Patrick Joseph, said Petro Seychelles initially was resistant to the plan but now is cautiously optimistic.

Source: National Post February 22, 2018 19:52 UTC