|Frozen Bovine Meat|
The Comoros, officially the Union of the Comoros (Comorian: Udzima wa Komori, French: Union des Comores), is a sovereign archipelago island in the Indian Ocean located at the northern end of the Mozambique Channel off the eastern coast of Africa between northeastern Mozambique and northwestern Madagascar. Other countries near the Comoros are Tanzania to the northwest and the Seychelles to the northeast. Its capital is Moroni, on Grande Comore. The Union of the Comoros has three official languages – Comorian, Arabic and French. The religion of the majority of the population is Islam.
At 1,660 km2 (640 sq. mi), excluding the contested island of Mayotte, Comoros is the third-smallest African nation by area. The population, excluding Mayotte, is estimated at 798,000. As a nation formed at a crossroads of different civilizations, the archipelago is noted for its diverse culture and history. The archipelago was first inhabited by Bantu speakers who came from East Africa, supplemented by Arab and Austronesian immigration.
The country consists of three major islands and numerous smaller islands, all in the volcanic Comoros archipelago. The major islands are commonly known by their French names: northwestern-most Grande Comore (Ngazidja); Mohéli (Mwali); and Anjouan (Nzwani). In addition, the country has a claim on a fourth major island, southeastern-most Mayotte (Maore), though Mayotte voted against independence from France in 1974, has never been administered by an independent Comoros government, and continues to be administered by France (currently as an overseas department). France has vetoed United Nations Security Council resolutions that would affirm Comorian sovereignty over the island. In addition, Mayotte became an overseas department and a region of France in 2011 following a referendum passed overwhelmingly.
Comoros has a relatively small and underdeveloped financial sector. Financial intermediation and credit to the private sector, while still low, have been expanding in recent years following the entry of two foreign commercial banks. However, the further development of credit markets remains constrained by poorly defined land ownership rights and weak enforcement of collateral guarantees. At present, the country's financial system comprises four commercial banks, financing around 60% of the economy, a development bank which also engages in commercial banking activities, a National Savings Fund, a postal savings bank, and two networks of microfinance institutions (MFIs). Under current regulatory frameworks, financial institutions can independently set their own credit and lending policies, though commercial bank interest rates and loans to consumers and businesses are partly regulated, with upper and lower bounds set at 14% and 7% respectively.
Banking system soundness appears to be improving. Profitability and quality of risk have increased in the latest years, while the ratio of non-performing loans to total outstanding loans decreased from 15.7% to 12% in 2012. Bank lending activities tend to be concentrated in short-term loans, mostly directed towards financing trade activities.
|Agriculture||Vanilla, cloves, copra, ylang-ylang|
|Manufacture||Fishing, tourism, perfume distillation|
|Services (Including financial)||40% (2011 estimate)|
|Central Bank of the Comoros||Financial|
|Comores Aviation International||Airline|
|Int’Air IIes||Regional Airline|
|Dvelopment Bank of Comoros||Financial|
|Exim Bank Ltd Comoros||Financial|
|Frozen Bovine Meat|
The invasion of Anjouan (code-named Operation Democracy in Comoros), on March 25, 2008, was an amphibious assault led by the Comoros, backed by African Union (AU) forces, including troops from Sudan, Tanzania, Senegal, along with logistical support from Libya and France. The objective of the invasion was to topple Colonel Mohamed Bacar's leadership in Anjouan, an island part of the Union of Comoros, when he refused to step down after a disputed 2007 election, in defiance of the federal government and the AU. The Comoros archipelago in the Indian Ocean has had a fractious history since independence from France in 1975, experiencing more than 20 coups or attempted coups.
The invasion occurred on the early morning of March 25, 2008. The main towns were quickly overrun and the island was declared under the control of the invading forces the same day. Mohamed Bacar managed to escape to Mayotte on March 26 and requested political asylum. He was subsequently held in custody there by the French administration and brought to the island of Ré union. On May 15, France rejected Bacar's request for asylum but the French refugee office ruled that the ousted leader could not be extradited to the Comoros because of the risk of persecution.
It became part of the French colonial empire in the 19th century before becoming independent in 1975. Since declaring independence, the country has experienced more than 20 coups d'état or attempted coups, with various heads of state assassinated. Along with this constant political instability, the population of the Comoros lives with the worst income inequality of any nation, with a Gini coefficient over 60%, while also ranking in the worst quartile on the Human Development Index. As of 2008 about half the population lived below the international poverty line of US$1.25 a day. The Comoros is the only state to be a member of the African Union, Francophonie, Organization of Islamic Cooperation, Arab League (of which it is the southernmost state, being the only member of the Arab League which is entirely within the Southern Hemisphere) and the Indian Ocean Commission.
Abdallah Said Sarouma
Djaffar Ahmed Said
The franc (French: franc comorien) (ISO 4217 currency code KMF) is the official currency of Comoros. It is nominally subdivided into 100 centimes, although no centime denominations have ever been issued.
In 1998 in anticipation of European Monetary Union, the Council of the European Union addressed the monetary agreements France has with the CFA Zone and Comoros and ruled that:
|National Song||"Udzima wa ya Masiwa"|
|Currency||Comorian franc (KMF)|
|GDP / GDP Rank||1.259 Billion USD|
|GDP Growth Rate||1 Percent|
|GDP Per Captial||$1529.156 (PPP)|
< 1.0% Christians
< 1.0% Hindus
< 1.0% Buddhists
< 1.0% Jews
< 1.0% Other Religions
President – Azali Assoumani
|Website||Go to the web|
|Public Debt||26.273 Percent|
|Unemployment Rate||19.957 Percent|
|Labor Force (Occupation)||-|