|Economy - overview: A civil war in 1989-96 destroyed much of
Liberia's economy, especially the infrastructure in and around Monrovia.
Many businessmen fled the country, taking capital and expertise with them.
Some returned during 1997. Many will not return. Richly endowed with
water, mineral resources, forests, and a climate favorable to agriculture,
Liberia had been a producer and exporter of basic products, while local
manufacturing, mainly foreign owned, had been small in scope. The
democratically elected government, installed in August 1997, inherited
massive international debts and currently relies on revenues from its
maritime registry to provide the bulk of its foreign exchange earnings.
The restoration of the infrastructure and the raising of incomes in this
ravaged economy depend on the implementation of sound macro- and
micro-economic policies of the new government, including the encouragement
of foreign investment. Recent growth has been from a low base, and
continued growth will require major policy successes.
purchasing power parity - $3.35 billion (2000 est.)
SOURCE: The World Factbook
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