Guinea-Bissau

Since independence from Portugal in 1974, Guinea-Bissau (Guiné-Bissau) has experienced considerable political and military upheaval. In 1980, a military coup established authoritarian dictator Joao Bernardo 'Nino' VIEIRA as president. Despite setting a path to a market economy and multiparty system, VIEIRA's regime was characterized by the suppression of political opposition and the purging of political rivals. Several coup attempts through the 1980s and early 1990s failed to unseat him. In 1994 VIEIRA was elected president in the country's first free elections. A military mutiny and resulting civil war in 1998 eventually led to VIEIRA's ouster in May 1999. In February 2000, a transitional government turned over power to opposition leader Kumba YALA after he was elected president in transparent polling. In September 2003, after only three years in office, YALA was ousted by the military in a bloodless coup, and businessman Henrique ROSA was sworn in as interim president. In 2005, former President VIEIRA was re-elected president pledging to pursue economic development and national reconciliation; he was assassinated in March 2009. Malam Bacai SANHA was elected in an emergency election held in June 2009.

Economical characteristics

 * Currency: West African CFA franc (ISO code: XOF)
 * Central bank discount rate: 4.75% (31 December 2008)
 * Commercial banks lending rate: NA% (31 December 2008)
 * Stock of money (M1): $171.2 million (31 December 2008)
 * Quasi money (with M1 makes M2): $17.99 million (31 December 2008)

Notable events:

 * Banking crisis: 1995

Links

 * Guinea-Bissau on Wikipedia
 * Central bank of Guinea-Bissau
 * Country profile (pdf) from the Enterprise Studies page (part of the The World Bank Group)
 * BBC country profile