Comoros is a small archipelago nation of Africa comprising three islands located in the Indian Ocean. Since independence from France in 1975, Comoros has been plagued by political instability, experiencing more than 20 coups or attempted coups, beginning just weeks after independence. The peaceful presidential elections in May 2006 were a milestone in the national reconciliation process, which resulted in the first democratic power transfer in over a decade. However, the process suffered a significant setback during national elections in June 2007 as a standoff between the central government and Anjouan led to a military intervention by the African Union in March 2008. The precarious political environment has hampered economic development by preventing implementation of proper macroeconomic policies and undermining investor confidence. As a result, Comoros remains one of the poorest countries in the world.