Liberia

Liberia

Liberia / is a country in West Africa. It is bordered by Sierra Leone to the west, Guinea to the north, and Côte d'Ivoire to the east. The Liberian coastline consists mostly of coastal Ike forests, while the densely populated interior consists of forests that open onto a plateau of drier meadows. The country owns 40% of the remaining upper Guinea rainforest

The country began the modernization process in the 1940s following an investment by the United States during World War II as well as the liberalization of the economy under President William Tubman. Liberia was a founding member of the United Nations and the Organization of African Unity. A military coup ousted the Liberian American Foundation in 1980, which marked the beginning of an era of political and economic instability and two successive civil wars that left nearly 250,000 dead and destroyed the country's economy. A peace agreement in 2003 led to democratic elections in 2005. Liberia today is recovering from the effects of civil war and related economic disintegration as about 85% of the population lives below the international poverty line

Liberia is one of only two modern countries in sub-Saharan Africa without roots in the European conflict over Africa. Beginning in 1820, the region colonized freed slaves from the United States with the help of the American Colonial Society, a private organization that believed that former slaves would gain more freedom and equality in Africa. It is the origin of the country’s name, Liberia, which is derived from the word Liberty, which means freedom. The slaves freed from the slave ships were also sent there instead of being sent back to their home countries

In 1847, these colonists established the Republic of Liberia and established a government modeled after its counterpart in the United States and named the capital Monrovia after James Monroe as the fifth President of the United States and a prominent supporter of colonialism. The colonists, also known as the Liberians of America, monopolized the country's political and economic sectors even though they made up only a tiny percentage of the population

Liberia is located in western Africa and overlooks the Atlantic Ocean in the southwest of the country. It lies between latitude 4 and 9 degrees north latitude and longitude 7 and 12 degrees west

The landscape is characterized by mostly flat coastal plains with coastal marshes and swamps that rise to a flat plateau and low mountains in the northeast. Tropical rainforests cover the hills while elephant grass and semi-deciduous forests cover the dominant vegetation in the northern sections. The climate is tropical hot throughout the year with heavy rain from May to October with a short pause in mid-July and August

During the winter months from November to March, the dry winds of dusty Harmattan blow from the inside, causing many problems for the population

Liberia's watersheds tend to go southwest towards the ocean, as fresh rainwaters flow from the forest plateau off the inland Guinée Forestier mountain range in Guinea. Near the border with Sierra Leone, Cape Mount receives most of the country's rain. The main northwestern country borders the Manu River, while the Kavala River is to the southeast. Liberia's three largest rivers are Saint Paul and emptying near Monrovia, St. John's in Buchanan and the Cestus River, all of which flow into the Atlantic Ocean. Kavala is the longest river in the country with a length of 515 km

The highest point completely located within Liberia is Mount Wotevi (1440 m) above sea level within the West African mountain range and the highlands of Guinea in the northwest of the country. However, Nimba near Yikiba is the highest (1752 m) above sea level, but it is not located entirely in Liberia, where Nimba shares borders with Guinea and Côte d'Ivoire and is the highest mountain in the two countries as well

After a peak in economic growth in 1979, the Liberian economy began a steady decline due to economic mismanagement in the aftermath of the 1980 coup. This decline accelerated due to the outbreak of the civil war in 1989; Gross domestic product fell by about 90% between 1989 and 1995, one of the fastest falls in history. At the end of the war in 2003, GDP growth began to accelerate, to 9.4% in 2007

However, the global financial crisis reduced growth to 4.6% in 2009, despite the strengthening of the agricultural sector through the growth of rubber and wood exports to 5.1% in 2010 and 7.3% in 2011, making the Liberian economy one of the 20 fastest growing economies In the world. Current obstacles to growth include a small domestic market, a lack of adequate infrastructure, high transportation costs, weak trade links with neighboring countries, and a high dollarization of the economy

Liberia used the U.S. dollar as its currency from 1943 to 1982 and the U.S. dollar is still used alongside the Liberian dollar. After inflation declined at the beginning of 2003, its rates increased in 2008 as a result of the global food and energy crises, reaching 17.5% before falling to 7.4% in 2009. Liberia’s external debt in 2006 is estimated at $ 4.5 billion, or 800% of GDP. . As a result of relieving the burden of bilateral, multilateral and commercial debts between 2007-2010, the country's external debt fell to $ 222.9 million by 2011

While official goods exports declined during the 1990s and many investors fled the civil war, Liberia's wartime economy drifted to exploit the diamond wealth in the region. The country traded bloody diamonds in Sierra Leone, exporting more than $ 300 million in diamonds in 1999. This led to a United Nations ban on Liberian diamond exports in 2001, which was lifted in 2007 after Liberia joined the Kimberley Process

In 2003, the United Nations imposed additional sanctions on Liberian timber exports that rose from $ 5 million in 1997 to more than $ 100 million in 2002 and are believed to fund rebels in Sierra Leone. These sanctions were lifted in 2006. Given the large foreign aid and investment flows in the aftermath of the end of the war, Liberia has a huge current account deficit of nearly 60% in 2008. Liberia gained observer status in the World Trade Organization in 2010 through its endeavor For full membership

Liberia has the highest ratio of foreign direct investment to GDP in the world with $ 16 billion in investment since 2006. After the installation of the Sirleaf Administration in 2006, several countries signed multi-billion dollar concession agreements in the field of iron ore and palm oil industries with several Multinationals including BHP Billiton, Arcelor Mittal and Sime Darby

Firestone Rubber and Tire Manufacturing has been operating the world's largest rubber plantation and company in Liberia since 1926. Liberia has started offshore oil exploration as unconfirmed oil reserves appear to exceed one billion barrels. The government divided its marine waters into 17 departments and began auctioning off exploration licenses in 2004, with more auctions in 2007 and 2009. It revealed 13 deep offshore oil sectors in 2011 and plans to sell them by auction. Among the companies that have won exploration licenses are Repsol, Chevron, Anadarko and Woodside Bartolium

Due to its position as a flag of convenience, the country has the second largest marine navigation record in the world behind Panama, with 3,500 ships registered under its flag accounting for 11% of the world's ships

Liberia is one of the poorest countries in the world with a formal employment rate of only 15%. In 2010, the country's nominal GDP was $ 974 million while per capita share was $ 226, which is the third lowest income in the world. Historically, the Liberian economy has relied heavily on foreign aid, foreign direct investment and exports of natural resources such as rubber, iron ore and wood