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Phone Code: 00224Root-level Domain Code: .gn
Phone Code: 00224
Root-level Domain Code: .gn
Background: Guinea has had only two presidents since gaining its independence from France in 1958. Lansana CONTE came to power in 1984 when the military seized the government after the death of the first president, Sekou TOURE. Guinea did not hold democratic elections until 1993 when Gen. CONTE (head of the military government) was elected president of the civilian government. He was reelected in 1998 and again in 2003. Guinea has maintained its internal stability despite spillover effects from conflict in Sierra Leone and Liberia. As those countries have rebuilt, Guinea's own vulnerability to political and economic crisis has increased. In 2006, declining economic conditions and popular dissatisfaction with corruption and bad governance prompted two massive strikes that sparked urban unrest in many Guinean cities.
Economy Overview: Guinea possesses major mineral, hydropower, and agricultural resources, yet remains an underdeveloped nation. The country possesses almost half of the world's bauxite reserves and is the second-largest bauxite producer. The mining sector accounts for over 70% of exports. Long-run improvements in government fiscal arrangements, literacy, and the legal framework are needed if the country is to move out of poverty. Investor confidence has been sapped by rampant corruption, a lack of electricity and other infrastructure, a lack of skilled workers, and the political uncertainty due to the failing health of President Lansana CONTE. Guinea is trying to reengage with the IMF and World Bank, which cut off most assistance in 2003, and is working closely with technical advisors from the U.S. Treasury Department, the World Bank and IMF, seeking to return to a fully funded program. Growth rose slightly in 2006, primarily due to increases in global demand and commodity prices on world markets, but the standard of living fell. The Guinea franc depreciated sharply as the prices for basic necessities like food and fuel rose beyond the reach of most Guineans. Dissatisfaction with economic conditions prompted nationwide strikes in February and June 2006.
Geography Note: the Niger and its important tributary the Milo have their sources in the Guinean highlands
Location: Western Africa, bordering the North Atlantic Ocean, between Guinea-Bissau and Sierra Leone
Natural Resources: bauxite, iron ore, diamonds, gold, uranium, hydropower, fish, salt
Geographic Coordinates: 11 00 N, 10 00 W
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