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Guinea is at a turning point after decades of authoritarian rule since gaining its independence from France in 1958. Guinea held its first free and competitive democratic presidential and legislative elections in 2010 and 2013 respectively, and in October 2015 held a second consecutive presidential election. Alpha CONDE was reelected to a second five-year term as president in 2015, and the National Assembly was seated in January 2014. CONDE's first cabinet is the first all-civilian government in Guinea. The country held a successful political dialogue in August and September 2016 that brought together the government and opposition to address long-standing tensions. Likewise, President CONDE’s election as AU chairperson has instilled confidence in Guinea. Previously, Sekou TOURE ruled the country as president from independence to his death in 1984. Lansana CONTE came to power in 1984 when the military seized the government after TOURE's death. Gen. CONTE organized and won presidential elections in 1993, 1998, and 2003, though all the polls were rigged. Upon CONTE's death in December 2008, Capt. Moussa Dadis CAMARA led a military coup, seizing power and suspending the constitution. His unwillingness to yield to domestic and international pressure to step down led to heightened political tensions that culminated in September 2009 when presidential guards opened fire on an opposition rally killing more than 150 people, and in early December 2009 when CAMARA was wounded in an assassination attempt and exiled to Burkina Faso. A transitional government led by Gen. Sekouba KONATE paved the way for Guinea's transition to a fledgling democracy.

Location

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

Natural Resources

bauxite, iron ore, diamonds, gold, uranium, hydropower, fish, salt

Population - distribution

areas of highest density are in the west and south; interior is sparsely populated

10324025
French (official)
CONAKRY (capital) 1.936 million (2015)
Conventional long form
Republic of Guinea
Conventional short form
Guinea
Local long form
Republique de Guinee
Local short form
Guinee
presidential republic
Name
Conakry
Geographic coordinates
9 30 N, 13 42 W
Time difference
UTC 0 (5 hours ahead of Washington, DC, during Standard Time)
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Guinea is a poor country of approximately 12.9 million people in 2016 that possesses the world's largest reserves of bauxite and largest untapped high-grade iron ore reserves, as well as gold and diamonds. In addition, Guinea has fertile soil, ample rainfall, and is the source of several West African rivers, including the Senegal, Niger, and Gambia. Guinea's hydro potential is enormous and the country could be a major exporter of electricity. The country also has tremendous agriculture potential. Gold, bauxite, and diamonds are Guinea’s main exports. International investors have shown interest in Guinea's unexplored mineral reserves, which have the potential to propel Guinea's future growth.
Inflation
8.13%
External debt stocks
US$ 1,389,380,000
Total tax rate (% of commercial profits)
68.3%
Real Interest Rate
12.3%
Manufacturing, value added (% of GDP)
6.665%
Current Account Balance
US$ -1,160,950,000
Labor Force, Total
5,869,021
Employment in Agriculture
74.80%
Employment in Industry
5.60%
Employment in Services
19.30%
Unemployment Rate
6.85%
Imports of goods and services
US$ 2,866,182,203
Exports of goods and services
US$ 1,518,850,029
Total Merchandise Trade
63.35%
FDI, net inflows
US$ 85,000,000
Commercial Service Exports
US$ 100,330,000
rice, coffee, pineapples, mangoes, palm kernels, cocoa, cassava (manioc, tapioca), bananas, potatoes, sweet potatoes; cattle, sheep, goats; timber
bauxite, gold, diamonds, iron ore; light manufacturing, agricultural processing
Commodities
bauxite, gold, diamonds, coffee, fish, agricultural products
Partners
India 22.1%, Spain 8.2%, Ireland 7.3%, Germany 6.3%, Belgium 5.5%, Ukraine 5.3%, France 4.1% (2015)
Commodities
petroleum products, metals, machinery, transport equipment, textiles, grain and other foodstuffs
Partners
China 20.5%, Netherlands 5.4%, India 4.4% (2015)
Country Risk Rating
D
A high-risk political and economic situation and an often very difficult business environment can have a very significant impact on corporate payment behavior. Corporate default probability is very high.
Business Climate Rating
D
The business environment is very difficult. Corporate financial information is rarely available and when available usually unreliable. The legal system makes debt collection very unpredictable. The institutional framework has very serious weaknesses. Intercompany transactions can thus be very difficult to manage in the highly risky environments rated D.
  • One third of the world's bauxite reserves
  • Still largely unexploited deposits of iron, gold, diamonds, uranium, and oil
  • Considerable hydroelectric potential
  • Dependence on mining outputs and energy prices
  • Lack of infrastructures especially in the electricity sector
  • Difficult business climate

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