Led by Sean Jakiel

Liberian Economic Project

What is Liberia?• Liberia is a Country on the gold coast

of Africa neighboring the Atlantic Ocean• Liberia was established by freed

slaves from the United States in 1822 with the help of a federal grant of 1 million dollars(1822)

• Despite Liberia being founded by freed United states slaves, 90% of the people in the country of Liberia consist of many different tribal backgrounds

• Official Language: English

• Religious background: Christianity(40%) Indigenous (40%) Islamic(20%)

Liberia’s Geography

• Liberia boarders the Atlantic Ocean, which gives Liberia good access to trade in the international market

• Liberia is mostly flat, has a large amount of tropical rainforest

• The only mountains in the north eastern part of Liberia, The highest mountain has an elevation of 1320 meters

Liberia’s Recent History

• In 1986 until 2003 Liberia has suffered from two civil wars

• The cause of the war was general hatred for the current president Samuel Doe who had oppressed many people in the country

• The War Caused massive capital flight (MNCs and Investors left the country)

• The War only ended when Charles Taylor (The leader of the NPFL) resigned from power due to external pressure from the United Nations

• Still to this day there are 6000 UN Guards who are stationed in Liberia to keep the peace

Liberia’s Economy at a glance

GDP:1.627 Billion US Dollars GDP per capita: 500 US dollarsGDP Growth Rate: 5% Unemployment Rate:85%Population below poverty line:80%Lowest 10% control 2.4% of wealth in LiberiaHighest 10% Control 30.1% of wealth in Liberia

Liberia’s Currency-Liberian Dollars

Liberia’s Industries

• Liberia has large deposit of Irons and diamonds in the country side

• Liberia’s industries consist 70% of agriculture, 22% industry and 8% of services

• Before the War Liberia’s steel industry was one of the biggest in the world until civil war broke out in 1986

• Liberia currently trades diamonds ,agricultural products, iron, forest products, and rubber in the world market.

Liberia’s Health Factors

• 35% of all hospitals had been reformed by the new government

• Infant Mortality rate:138.24/1000 Live Births• Suffers from malaria and yellow fever• Clean Water supplies have increased in the past

year• Liberia has received food security from the

United Nations• Only 25% of the nation has proper sanitation

facilities in the entire country• 35,000 people live with AIDS in Liberia

The JFK hospital in Monrovia

Liberia’s Population Factors

• Population:3,441,790• Population Growth Rate:2.665%Age Structure0-14 Years: 44.1%15-64 Years:53%65 and over:2.8%• Dependency Ratio: .885• Life Expectancy: 41.84 years

Ethic make up of Liberia

95% indigenous Descent

5% African American Descent

5%Other

Picture of Down Town Monrovia(Capital)

Liberia’s Educational FactorsLiteracy Rate: 57.5%• Male Literacy Rate: 73.3%• Female Literacy Rate: 41.6%

• 11% of Government funding goes to educational purposes• Lot of schools were put out of use in the past civil wars of

1986-2005• 83% of all students are enrolled in primary schools

(only 20% are enrolled in secondary school)

Years of Expected Education• Males-11 years• Females-8 years

Liberia’s Legal System

• Liberia is a democracy• Elections take place every 6 years

(next Election will be in 2011)• There is a supreme court• Liberia is broken up into 15 different counties• Some of the legal system consists of

traditional tribal laws• Liberia is making efforts as to broaden the tax

base as to increase government revenue

Liberia’s President:

Ellen Johnson Sirleaf

Liberia’s infrastructure

Miles of Roads: 10,600 kmPaved: 657kmNot Paved: 9,943 kmMiles of Telephone Wires:2000Miles of Standard Gauge Rails: 345km

(Most of the railroad tracks are damaged do the civil wars 1986-2003)

Miles of Non-Standard Gauge Rails: 84kmAirports: 33 (only 2 are paved)Has two ports (Monrovia and Buchanan)

Why Liberia Has Failed to Develop Economically

• Liberia has been in a state of turmoil until 2003 with the end of the second civil war

• 1,000,000 people were displaced from the war and many businesses left the country due the political instability

• The Government until the UN established Peace has been very corrupt in how they spent their taxpayer dolars

• The War caused over 250,000 dead

The Liberian Economic Project Proposal

• Liberia before the war was one of the worlds biggest producers of Iron, However the Civil Wars have damaged the domestic infrastructure

• The Economic proposal is for rebuilding Liberia’s rail ways (429 Km) to be useable for freighting goods

• A better rail road system in Liberia will help mining facilities along with other Liberian industries such as forestry ,transport goods to be exported on the global market

• This in return should help spur economic growth in Liberia

Cost Projection

• Estimated Cost per a mile of rail is $288,000 US dollars per a mile of rail

• 267 miles of rail are planned to be either renovated or installed

• Estimated Cost 76,800,000 US dollars• Loan Request 75 million US dollars

– Government of Liberia will fund the additional costs of the project

Payment terms: Liberia wants a loan which is nearly interest free such as the IMF has done for other past loans we have borrowed and are paying off

Overall we have paid off most off our past loans in this method and our people will greatly appreciate the helping hand of the IMF again if we get the loan we are seeking

Thank you, for your time

Please, consider our proposition for approval. Any sum of money would go a long way to

help restore our economy.

Sources Used• https://www.cia.gov/library/publications/the-world-factbook/

geos/li.html• http://www.afdb.org/en/knowledge/publications/african-eco

nomic-outlook-2009/african-economic-outlook-2008/• http://education.stateuniversity.com/pages/848/Liberia-EDUC

ATIONAL-SYSTEM-OVERVIEW.html• http://education.stateuniversity.com/pages/848/Liberia-EDUC

ATIONAL-SYSTEM-OVERVIEW.html• http://news.bbc.co.uk/2/hi/africa/country_profiles/1043500.s

tm• http://www.nyulawglobal.org/globalex/liberia.htm• http://www.globalsecurity.org/military/world/war/liberia-198

9.htm