Guinea is a predominantly Muslim country with a population 11.7 million. It has the largest reserves of bauxite in the world, and is the second largest producer of the mineral. Despite the country’s mineral wealth, it is one of the poorest countries in the world, with a GDP per capita of $523. Its successful November 2010 elections marked the first time in 52 years that the country held peaceful, democratic presidential elections. The elections were seen by the international community as a turning point for the country’s political stability and future development. Even though the successful presidential elections created unprecedented development opportunities, the government continued to face a myriad of development challenges. In 2014, a decline in commodity prices and fears surrounding the Ebola outbreak led to sharply weaker growth, as activity in mining, services, and agriculture contracted. Investor aversion further diminishes the country’s 2015 growth estimates to -0.2 percent.
Last updated: September 03, 2015