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Guinea Flag

Guinea Flag
Flag of Guinea
Guinea flags for displaying indoors or out.
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Guinea

Guinea Background

Independent from France since 1958, Guinea did not hold democratic elections until 1993 when Gen. Lansana CONTE (head of the military government) was elected president of the civilian government. He was reelected in 1998. Unrest in Sierra Leone has spilled over into Guinea, threatening stability and creating a humanitarian emergency.

Guinea Economy

Guinea possesses major mineral, hydropower, and agricultural resources, yet remains an underdeveloped nation. The country possesses over 30% of the world's bauxite reserves and is the second-largest bauxite producer. The mining sector accounted for about 75% of exports in 1999. Long-run improvements in government fiscal arrangements, literacy, and the legal framework are needed if the country is to move out of poverty. The government made encouraging progress in budget management in 1997-99, and reform progress was praised in the World Bank/IMF October 2000 assessment. However, fighting along the Sierra Leonean and Liberian borders has caused major economic disruptions. In addition to direct defense costs, the violence has led to a sharp decline in investor confidence. Foreign mining companies have reduced expatriate staff, while panic buying has created food shortages and inflation in local markets. Multilateral aid - including Heavily Indebted Poor Countries (HIPC) debt relief - and single digit inflation permitted moderate 3.7% growth in 2002. Growth should strengthen in 2003 because of a slowly improving security situation and increased investor confidence.

Guinea Location

Western Africa, bordering the North Atlantic Ocean, between Guinea-Bissau and Sierra Leone

Guinea Flag

three equal vertical bands of red (hoist side), yellow, and green; uses the popular pan-African colors of Ethiopia


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