Economic indicators

Farming is the most important economic activity for more than two thirds of Liberians. They grow rice, cassava, sugarcane, palm trees (for palm oil), bananas, sweet potatoes, and other crops for their own needs. Liberia's economy is highly dependent on the export of raw materials, however. Rubber was the first major export crop. Liberia is rich in timber, gold, diamonds, iron ore and has extensive rubber plantations. In the past, the economy flourished on the basis of these resources. During the civil war a corrupt and predatory economy developed, devastating Liberia's infrastructure and economy, and leaving the country with little in the way of a public administration or official records. There is a history of extremely poor financial management, both under Taylor and under the NTGL. UN Sanctions on the export of diamonds were renewed for a further six months on 20 December 2006. Sanctions on timber were lifted in June 2006.




GDP (purchasing power......

Join Now to view the rest of this term paper!
Members: Login to view this research paper.

Title: Liberia
Approximate Word Count: 3583
Approximate Pages: 15 (250 words per double-spaced page)

With the Term Papers Lab Membership Pass, you get instant access to every essay on this site, including this essay on Liberia, for as long as you remain a member.

Other essays sites charge almost $100 for a single term paper. At Term Papers Lab, you can get instant access to over 100,000 research papers for as little as $29.95!