Economic Overview
Guinea possesses major mineral, hydropower, and agricultural resources, yet remains an underdeveloped nation. the country has 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 2006-07, 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.
Environmental Issues
Deforestation; inadequate supplies of potable water; desertification; soil contamination and erosion; overfishing, overpopulation in forest region; poor mining practices have led to environmental damage
Government Type
Republic
Population
9,806,509 (july 2008 est.)
Location
Western africa, bordering the north atlantic ocean, between guinea-bissau and sierra leone
Area
Total: 245,857 sq km
land: 245,857 sq km
water: 0 sq km
Slightly smaller than oregon
Country Aliases
Conventional long form: republic of guinea
conventional short form: guinea
local long form: republique de guinee
local short form: guinee
former: french guinea
Capital
Name: conakry
geographic coordinates: 9 33 n, 13 42 w
time difference: utc 0 (5 hours ahead of washington, dc during standard time)
Military Service
18 years of age for compulsory military service; 2-year conscript service obligation (2006)
International Disputes
Conflicts among rebel groups, warlords, and youth gangs in neighboring states have spilled over into guinea, resulting in domestic instability; sierra leone considers guinea's definition of the flood plain limits to define the left bank boundary of the makona and moa rivers excessive and protests guinea's continued occupation of these lands, including the hamlet of yenga, occupied since 1998
Sources: Central Intelligence Agency (CIA)
