Ludwig von Mises Institute

Liberia

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Country summary

Capital

Monrovia

Borders

Guinea 563 km, Cote d'Ivoire 716 km, Sierra Leone 306 km

Government type

republic

Population

3,441,790 (July 2010 est.)[1]

Population growth

2.665% (2010 est.)[1]

Life expectancy

41.84 years[1]

Unemployment

85% (2003 est.)[1]

Index of Economic Freedom

163[2]

Corruption Perceptions Index

97[3]

Doing Business ranking

149[4]


Settlement of freed slaves from the US in what is today Liberia began in 1822; by 1847, the Americo-Liberians were able to establish a republic. William TUBMAN, president from 1944-71, did much to promote foreign investment and to bridge the economic, social, and political gaps between the descendents of the original settlers and the inhabitants of the interior. In 1980, a military coup led by Samuel DOE ushered in a decade of authoritarian rule. In December 1989, Charles TAYLOR launched a rebellion against DOE's regime that led to a prolonged civil war in which DOE himself was killed. A period of relative peace in 1997 allowed for elections that brought TAYLOR to power, but major fighting resumed in 2000. An August 2003 peace agreement ended the war and prompted the resignation of former president Charles TAYLOR, who faces war crimes charges in The Hague related to his involvement in Sierra Leone's civil war. After two years of rule by a transitional government, democratic elections in late 2005 brought President Ellen JOHNSON SIRLEAF to power. The UN Mission in Liberia (UNMIL) maintains a strong presence throughout the country, but the security situation is still fragile and the process of rebuilding the social and economic structure of this war-torn country continues.[1]

Economical characteristics[edit]

  • Currency: Liberian dollar (ISO code: LRD)
  • Central bank discount rate: [1]
  • Commercial banks lending rate: 14.4% (31 December 2008 )[1]
  • Stock of money (M1): $206.9 million (31 December 2008)[1]
  • Quasi money (with M1 makes M2): $65.36 million (31 December 2008)[1]

Notable events:[edit]

Statistics[edit]

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (million USD)[6] 442 561 543 559 410 460 530 612 735 843
Govt. debt (% of GDP)[7]
Govt. revenue (% of GDP)[8]
Govt. expenses (% of GDP)[9]
Debt to revenue (years)

References[edit]

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Factbook. "Liberia", from The World Factbook. Referenced 2010-10-04.
  2. ↑ Heritage Foundation. "Liberia", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-04.
  3. ↑ Transparency International. "Liberia", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-10-04.
  4. ↑ Doing Business. "Liberia", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-04.
  5. ↑ Carmen M. Reinhart and Kenneth S. Rogoff. "This Time is Different", Princeton University Press, ISBN 978-0-691-14216-6, p. 372. (The list does not claim to be complete.) Referenced 2011-07-20.
  6. ↑ World Bank. "Liberia: GDP", from World Bank Data. Referenced 2010-10-04.
  7. ↑ World Bank. "Liberia: government debt", from World Bank Data. Referenced 2010-10-04.
  8. ↑ World Bank. "Liberia: government revenue", from World Bank Data. Referenced 2010-10-04.
  9. ↑ World Bank. "Liberia: government expenses", from World Bank Data. Referenced 2010-10-04.

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