Legislative branch:
unicameral Legislative Council (10 seats - two ex officio, eight
elected by popular vote, members serve four-year terms); presided
over by the governor
elections: last held 17 November 2005 (next to be held November 2009)
election results: percent of vote - NA; seats - independents 8
Judicial branch:
Supreme Court (chief justice is a nonresident); Magistrates Court
(senior magistrate presides over civil and criminal divisions);
Court of Summary Jurisdiction
Political parties and leaders:
none; all independents
Political pressure groups and leaders:
none
International organization participation:
ICFTU, UPU
Diplomatic representation in the US:
none (overseas territory of the UK; also claimed by Argentina)
Diplomatic representation from the US:
none (overseas territory of the UK; also claimed by Argentina)
Flag description:
blue with the flag of the UK in the upper hoist-side quadrant and
the Falkland Island coat of arms centered on the outer half of the
flag; the coat of arms contains a white ram (sheep raising was once
the major economic activity) above the sailing ship Desire (whose
crew discovered the islands) with a scroll at the bottom bearing the
motto DESIRE THE RIGHT
Economy Falkland Islands (Islas Malvinas)
Economy - overview:
The economy was formerly based on agriculture, mainly sheep
farming, but today fishing contributes the bulk of economic
activity. In 1987 the government began selling fishing licenses to
foreign trawlers operating within the Falkland Islands' exclusive
fishing zone. These license fees total more than $40 million per
year, which goes to support the island's health, education, and
welfare system. Squid accounts for 75% of the fish taken. Dairy
farming supports domestic consumption; crops furnish winter fodder.
Exports feature shipments of high-grade wool to the UK and the sale
of postage stamps and coins. The islands are now self-financing
except for defense. The British Geological Survey announced a
200-mile oil exploration zone around the islands in 1993, and early
seismic surveys suggest substantial reserves capable of producing
500,000 barrels per day; to date, no exploitable site has been
identified. An agreement between Argentina and the UK in 1995 seeks
to defuse licensing and sovereignty conflicts that would dampen
foreign interest in exploiting potential oil reserves. Tourism,
especially eco-tourism, is increasing rapidly, with about 30,000
visitors in 2001. Another large source of income is interest paid on
money the government has in the bank. The British military presence
also provides a sizeable economic boost.