By Heather Smith
Nov. 1 (Bloomberg) -- The Seychelles floated its dollar- tied currency, the rupee, in an effort to avert bankruptcy, Agence France-Presse said today, citing the islands' President James Michel's speech on national radio and television yesterday.
The currency float is part of a package of economic measures approved by the International Monetary Fund, which yesterday granted The Seychelles an emergency loan to cope with an $800 million external debt equal to 175 percent of its gross domestic product, the news service said, without citing a source.
To contact the reporter on this story: Heather Smith in Paris at hsmith26@bloomberg.net
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