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In The News
They form
a class of rich in natural resources but poor economy due to lack of infra structure destroyed in civil strife. Liberia has been famous for their diamonds and
maritime activity. Several countries
in the world use Liberian registration for their vessels as a flag of
convenience. In fact this is one of their
major source foreign exchange apart from their timber exports.
With plenty of water and mineral resources
at their disposal, , Liberia had been a
producer and exporter of basic products such as Rubber, Cocoa Coffee
and Palm oil. Timber has one major export
item from Liberia.
The unsettled domestic security situation destroyed mining companies.
The whole process of rebuilding
the social and economic fabric of the
country got slowed down. Flight of
businesses from the country disrupted economic activity.
The democratic government
inherited massive debts and an economy in shambles.
The restoration of the infrastructure and
the raising of incomes in this ravaged economy depend on the
implementation of sound macro-economic
policies by the new government, including
the encouragement of foreign investment. But foreign financial investment can be made
possible only when the internal stability is
assured. In order to establish real
growth, the rebellious elements with in
have to be kept under control.
Contentious issues
Liberia’s
support for rebel insurgency in Sierra Leone has invited UN sanctions
on Liberia.
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