Warning/Action Briefing Note on Guinea Term Paper

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" (IRIN, 2010)

The economy of Guinea is said to have crumbled in the past two years with Guineans witnessing "the price of rice, the country's staple food, rise steadily, while salaries have stagnated and living standards have fallen." (IRIN, 2010) In addition it is stated that "corruption and economic decline have reduced government revenues, forcing the central bank to print more bank notes to cover the growing budget deficit." (IRIN, 2010) Inflation is stated to have risen from 6.1% in 2002 to 14% in 2003 and to have again doubled to 28% in 2004. (IRIN, 2010, paraphrased) Minimum wage in Guinea is equal to $36 per month in the United States.

B. Strengths/Capacities

The strengths of Guinea are comprised by the country's natural resources and potential industries specifically those of agriculture, fishing, and minerals. Guinea is a country that is blessed richly with minerals including more than 25 billion metric tons of bauxite and more than 4 billion tons of high-grade iron ore, as well as large deposits of gold, diamonds and uranium.

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Guinea is further blessed with great agricultural and fishing potential. However, Guinea is characterized by an infrastructure that is poorly developed and ongoing corruption that places barriers to investment projects large in scale.

III. RECOMMENDED EARLY ACTIONS

The government of Guinea should relax restrictions on the Guinean society at-large in terms of democracy and freedom and transparency in the government and its actions would go far in this initiative. It is reported that the United Nations has earmarked funds to assist Guinea but that however these funds are being withheld until the level of political unrest in Guinea has subsided.

Investment in Guinea is for the present time not forthcoming and this is just one negative outcome of all the political unrest. In fact, the formation of an economic council that is comprised of representatives from all ethnic and political groups with a focus on bringing the country's economy back around to potential and productivity from its current state of decline and poverty should serve to forge common bonds that will.....

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