Liberia Tenders

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Capital Monrovia
ISO 3166 Code LR
Population 4,503,000
Area, Sq KM 111,370
Currency Liberian dollar
Official Language English
GDP, Billion USD 1,767
GDP Growth Rate, % 2.5
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % N/A
Exchange Rate, 1 USD Equals 84.66
International dial code 231
Time Zone GMT
Internet TLD .lr

Liberia is officially as well as commonly referred to as the Republic of Liberia. It is a country in West Africa and shares its borders by Sierra Leone to its west, Ivory Coast to its east and Guinea to its north and Ivory Coast to its east. The total area covered by this country is estimated to be 111,369 square kilometers and has a population of 4 million people. Even though English is the official language of Liberia, there are 15 other indigenous languages that are also spoken within Liberia. The Republic of Liberia declared its independence in the year 1847 and formerly it was known to be a colony of the American Colonization Society. United States was compelled by Britain to finally recognize and accept Liberian Independence and so finally the country got its independence in the year 1862. It was the first African country to become independent. Liberia is Africa's oldest democratic republic and was unique from other African countries because it was the only country that was controlled and colonized by freed African Americans along with the ex-slaves. Liberia was a protectorate of the United States and the constitution was modeled after the United States Constitution. The Central Bank of Liberia is solely responsible for maintaining as well as printing the Liberian dollar. Liberian dollar is the primary currency of the country. It used the United States dollar till 198 from 1942 and still uses the US dollar along with the Liberian dollar. This country is known to be the poorest country in the world in which the formal employment rate is at 15%.As of 2011, the nominal GDP of the country was $1.154 billion US dollars, while nominal GDP per capita was recorded at US$297. The Liberian economy has heavily depended on foreign aid, exports of the natural resources like rubber, timber and iron ore along with foreign direct investment. Due to economic mismanagement, the economic conditions started to decline in the 1980s which was further made worse by the outbreak of civil war in 1989 and the GDP was believed to be reduced by estimated 90% between 1989 and 1995. However, towards the end of the war in the year 2003, GDP accelerated and reached in 2007. A strengthening agricultural sector that was led by timber and rubber exports increased the growth of the country to 5.1% in 2010 and 7.3% in 2011 which made the country’s economies one of the 20 fastest growing in the world.

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