Guinea
THE STRENGTH OF EQUATORIAL GUINEA’S economic growth was confirmed in 2007, with real GDP growth of 9.8 per cent compared with 5.3 per cent in 2006. The boost to the country’s economy is due mainly to improved oil and gas production and the buoyancy of public infrastructure-construction works. This was accompanied by continuous improvement in the performance of the construction sector, banking services, telecommunications, tourism and wood processing.
IN 2008, GUINEA’S ECONOMY benefited from an improvement in mining product prices on the international market. The social and economic measures of the Poverty Reduction and Growth Facility (PRGF) negotiated with the International Monetary Fund (IMF) for the 2007 to 2010 period also gave positive results. The first PRGF review in 2008 turned out to be conclusive. Real Gross Domestic Product Growth (GDP) reached 4.7 per cent in 2008, but is not expected to exceed 3.8 and 4.4 per cent in 2009 and 2010, due to the global financial crisis.
L’ÉCONOMIE GUINÉENNE A PROFITÉ EN 2008 de l’embellie des cours des produits miniers sur les marchés internationaux. Les mesures économiques et sociales prises dans le cadre de la Facilité pour la réduction de la pauvreté et la croissance (FRPC), négociée pour la période 2007-10 avec le Fonds monétaire international (FMI), ont également eu des effets positifs. Une première revue de la FRPC, en juillet 2008, s’est avérée concluante. Le taux de croissance du PIB réel a atteint 4.7 pour cent en 2008, mais ne devrait pas excéder 3.8 et 4.4 pour cent en 2009 et 2010, à cause de la crise mondiale.
The Constitution of Guinea upholds equality between men and women as a fundamental right, but many forms of discrimination remain evident. Guinean women are forced into polygamous marriages and do not have equal rights under divorce laws. Female genital mutilation remains widely practised. Discrimination is most prevalent in rural areas, where women do not have access to land and have difficulty accessing farming equipment and other resources.
Guinea enjoys considerable, varied and unexploited economic potential, but is having difficulty making an economic breakthrough. Growth is structurally weak and slow, with inflationary episodes. It has also been hard hit by the oil crisis (2007/08), food crisis (2008) and the financial crisis (2009).
Guinea is a poor, fragile country, despite considerable unexploited economic potential. It has the world's largest reserves of bauxite (two-thirds of global reserves), as well as large deposits of iron ore, gold and diamonds. It also has the potential to develop other metals, oil and gas. Persistent structural and institutional weaknesses have prevented Guinea from developing a strategie vision and implementing the type of policies needed to reap the full benefit of its mineral wealth.
Après des années de dirigisme étatique et d’instabilité politique, Alpha Condé a été élu président en décembre 2010, mais le climat social et politique reste tendu, avec des dissensions autour des prochaines élections et les problèmes financiers et logistiques. Les frictions au sein de l’armée ont débouché sur une tentative d’assassinat du président, le 19 juillet 2011. Les élections législatives sont désormais prévues le 8 juillet 2012.
After years of heavy-handed government and political instability, Alpha Condé was elected president in December 2010, but the social and political climate is still tense, with disagreement about further elections and financial and logistical problems. Additional friction in the army led to an attempt to kill the president on 19 July 2011. Legislative elections have now been set for 8 July 2012.
The socio-economic situation in 2012 was characterised by persistent poverty (55.2%) even though reforms aimed at reviving economic and social developments were implemented and the completion point of the HIPC initiative was reached at the end of September 2012. The country benefited from external debt relief worth USD 2.1 billion.
La situation socio-économique en 2012 a été marquée par la persistance de la pauvreté (55.2 %), en dépit de la mise en oeuvre des réformes visant la relance du développement économique et social, et l’atteinte du point d’achèvement de l’Initiative PPTE à la fin du mois de septembre 2012. La Guinée a bénéficié d’un allègement du stock de sa dette extérieure à hauteur de 2.1 milliards USD.