Liberia is located on the west coast of Africa and consists of 110,000 square kilometers to the East of Sierra Leone, South of Guinea and West of the Ivory Coast, situated just north of the equator. The Liberian climate is tropical with a rainy season from May to October and a dry season from November to April. The annual rainfall is approximately 430 cms.

Population

The population of Liberia is approximately three million. 

Political Structure

The state of Liberia was founded in 1847 by immigrants of African descent who returned from the United States of America to their native continent. Liberia has remained an independent nation and is the oldest Republic in Africa. 

Constitutional Government ended in September 1990 when the President was killed by rebel forces, and civil war ensued. A peace treaty was negotiated in 1993 under UN auspices, and a transitional coalition Government was formed in early 1994. This has been largely ineffective and unable to implement the provisions of the peace treaty.

The members of the unicameral Transitional Legislative Assembly are elected by the leaders of the major factions in the civil war. The former Bicameral legislature no longer exists, and there is no assurance that it will be reconstituted in the near future.

Infrastructure and Economy

The civil war has destroyed much of Liberia's economy, especially the infrastructure around Monrovia. Businessmen have fled the country, taking capital and expertise with them, and there is little guarantee that they will ever return.

Richly endowed with water, mineral resources, forests and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products, while local manufacturing, mainly foreign owned, had been small in scale. Political instability threatens prospects for economic reconstruction and repatriation of some 750,000 refugees who fled to neighboring countries. 

The political impasse between the interim Government and one of the rebel leaders has 

prevented restoration of normal economic life, including the re-establishment of a strong central Government with effective economic development programs. The economy is still deteriorating further.

Language

English is the official language of Liberia although there are 16 indigenous languages which are used throughout the country.

Currency

The Liberian Dollar is on par with the U.S. Dollar, and both currencies are accepted as legal tender in Liberia.

Exchange Control

None.

Type of Law

Dual system of statutory law based on American/Anglo common law for the modern sector, and customary law based on unwritten tribal practices for the indigenous sector. 

Principal Corporate Legalization

Liberian Associations Law, which incorporates the Business Corporation and Partnership Acts.