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“Guinea is the third worst economy in the world".

  1. Posted on Monday 15 August 2011 - 15:05
    diandonghol
    Image of diandonghol
    According to Forbes American Business Magazine, Guinea is the worst third economy in the world. In the classification of the 6 less performing financial systems, Guinea holds the 3rd position just after Madagascar and Armenia. Then come Ukraine and Jamaica or Venezuela.
    Guinea occupies this third place in the classification because of the government‘s hostility against investment according the American media.
    To establish the World Worst Economies, Forbes relied on statistics mean of the gross domestic product (GDP) over 3 years and the inflation of 177 countries taking into account the GDP by inhabitant and the ratio between exportation and importation. In the ranking Guinea is ahead the worst countries like Ukraine, Venezuela, Jamaica, Iran and Nicaragua. According to classification the economic level of guinea has not changed because the country has been occupying this 3rd place since last year.
    To explain the stagnation of the economy of our country Forbes talks about ' the insecurity created by the government's hostility to investment. "The "coup" of 2008 that brought the military junta led by Captain Dadis in power is also an example. The magazine points out that Guinea has the half of the world's bauxite reserves. The only data that has changed is the rate of inflation. It goes from 8% in 2010 to 17% this year in the Forbes ranking.
    The newspaper said that the election of President Alpha Condé in 2010 and the presence of some companies in the mining sector such as BHP Billiton helps to "reduce the fears of investors."


    Mamadou Dian Donghol Diallo
    The africanews reporter in Guinea.

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