Sierra Leone

The Republic of Sierra Leone is a country in West Africa. It is bordered by Guinea on the north and Liberia on the southeast, with the Atlantic Ocean on the southwest. The name Sierra Leone was adapted from the Spanish version: Sierra León, and in turn, from the Portuguese Serra-Leão, which stands for "lioness mountains." It was an important centre of the Transatlantic Slave Trade. Much like neighbouring Liberia, it was founded by freed slaves, who in 1791 founded the capital, Freetown. In 1806, Freetown became a British Protectorate (as did the remainder of the country in 1896), reaching independence in 1961. From 1991 to 2002, the country has suffered greatly from a devastating civil war.

Economy

Main article: Economy of Sierra Leone

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

Sierra Leone is an extremely poor nation with tremendous inequality in income distribution. In fact, it has the lowest average income in the world. It does have substantial mineral and fishery resources and agricultural potential. However, the economic and social infrastructure is not well developed, and serious social disorders continue to hamper economic development, following a 10-year civil war. About two-thirds of the working-age population engages in subsistence agriculture. Manufacturing consists mainly of the processing of raw materials and of light manufacturing for the domestic market.

Related Topics:
Mineral - Social infrastructure

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

Economic development has always been hampered by an overdependence on mineral exploitation. Successive governments and the population as a whole have always believed that "diamonds and gold" are sufficient generators of foreign currency earnings and lure for investment. As a result large scale agriculture of commodity products, industrial development and sustainable investments have been neglected by governments. The economy could thus be described as one which is "exploitative" and based on the extraction of unsustainable resources or non reusable assets

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

There are plans to reopen bauxite and rutile mines shut down during the conflict. The major source of hard currency consists of the mining of diamonds. The fate of the economy depends upon the maintenance of domestic peace and the continued receipt of substantial aid from abroad.

Related Topics:
Bauxite - Rutile - Diamond

~ ~ ~ ~ ~ ~ ~ ~ ~ ~