Republic of Sierra Leone
Unity, Freedom, Justice
High We Exalt Thee, Realm of the Free
|Government||Republic and parliamentary|
|- From 2007||Ernest Bai Koroma|
|- April 19, 1971||Republic|
|Commonwealth accession||April 27, 1961|
|- Total||US$ 4.8 billion|
|- Per capita||US$ 759|
The Republic of Sierra Leone is a constitutional republic in Western Africa.
Democracy is slowly being reestablished after the civil war from 1991 to 2002 that resulted in tens of thousands of deaths and the displacement of more than 2 million people (about a third of the population). The military, which took over full responsibility for security following the departure of UN peacekeepers at the end of 2005, is increasingly developing as a guarantor of the country's stability. The armed forces remained on the sideline during the 2007 presidential election, but still look to the UN Integrated Office in Sierra Leone (UNIOSIL) - a civilian UN mission - to support efforts to consolidate peace. The new government's priorities include furthering development, creating jobs, and stamping out endemic corruption.
Sierra Leone is an extremely poor nation with tremendous inequality in income distribution. While it possesses substantial mineral, agricultural, and fishery resources, its physical and social infrastructure has yet to recover from the civil war, and serious social disorders continue to hamper economic development. Nearly half 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. Alluvial diamond mining remains the major source of hard currency earnings, accounting for nearly half of Sierra Leone's exports. The fate of the economy depends upon the maintenance of domestic peace and the continued receipt of substantial aid from abroad, which is essential to offset the severe trade imbalance and supplement government revenues. The IMF has completed a Poverty Reduction and Growth Facility program that helped stabilize economic growth and reduce inflation and in 2010 approved a new program worth $45 million over three years. Political stability has led to a revival of economic activity such as the rehabilitation of bauxite and rutile mining, which are set to benefit from planned tax incentives. A number of offshore oil discoveries were announced in 2009 and 2010. The development on these reserves, which could be significant, is still several years away.
- Ernest Bai Koroma (₩) (September 17, 2007 - )