Monetary & Banking 

Country name:

conventional long form: Republic of Liberia
conventional short form: Liberia

 

Capital:

Monrovia. Population: 572,000 (census 2003).
 

 

Location:

Western Africa, bordering the North Atlantic Ocean, between Cote d'Ivoire and Sierra Leone

 

Area:

99,067 sq km (38,250 sq miles).
 

Description:

Liberia borders Sierra Leone, Guinea Republic and C?�te d’Ivoire. The Atlantic coastline to the west is 560km (348 miles) long, of which over half is sandy beach. Lying parallel to the shore are three distinct belts. The low coastal belt is well watered by shallow lagoons, tidal creeks and mangrove swamps, behind which rises a gently undulating plateau, 500 to 800m (1,640 to 2,625ft) high, partly covered with dense forests. Inland and to the north is the mountain region which includes Mount Nimba at 1,752m (5,748ft) and Waulo Mountain at 1,400m (4,593ft). About half of the country’s population are rural dwellers.
 

 

 

Population:

3.2 million (CIA estimate 2007).
 

 

Languages:

Economy - overview:

The civil war caused severe damage to the economy and, following the peace settlement, reconstruction has been the highest priority as the infrastructure is in ruins. In 2003, unemployment was at 85% and inflation at 15%. Liberia's annual growth was 7.8% in 2006. Around 70% of the population work the land, producing rice and cassava as staple foods and palm oil, coffee and cocoa as cash crops. The country’s principal export commodities are iron ore and rubber. Some gold and diamonds are also mined.
The manufacturing industry (still operating far below capacity) produces cement and other building materials, chemicals, drinks and tobacco and consumer products. Liberia operates one of the longest established open registry (flag of convenience) merchant shipping fleets. This continues to be an essential source of foreign exchange and government revenue.
Liberia relies heavily on international aid and financial support. It is a member of the West African trading bloc ECOWAS. The USA is Liberia’s largest trading partner.

Economy:

The civil war caused severe damage to the economy and, following the peace settlement, reconstruction has been the highest priority as the infrastructure is in ruins. In 2003, unemployment was at 85% and inflation at 15%. Liberia's annual growth was 7.8% in 2006. Around 70% of the population work the land, producing rice and cassava as staple foods and palm oil, coffee and cocoa as cash crops. The country’s principal export commodities are iron ore and rubber. Some gold and diamonds are also mined.
The manufacturing industry (still operating far below capacity) produces cement and other building materials, chemicals, drinks and tobacco and consumer products. Liberia operates one of the longest established open registry (flag of convenience) merchant shipping fleets. This continues to be an essential source of foreign exchange and government revenue.
Liberia relies heavily on international aid and financial support. It is a member of the West African trading bloc ECOWAS. The USA is Liberia’s largest trading partner.
 

 

Industries:

rubber processing, palm oil processing, timber, diamonds