PositionMembership in Economic Community of West African States will help the country upgrade its transportation infrastructure - Brief Article

Guinea is better poised than most West African nations to benefit from membership in the Economic Community of West African States. In addition to boosting intra-regional trade, membership will bring jointly funded programs that should upgrade the transportation infrastructure and increase the flow of goods throughout the region. Guinean investment in surface transportation should rise 5 percent per annum over the next two years.

Guinea's macroeconomic panorama is conducive to gradual development of a firm base of household consumption. Single-digit inflation has prevailed over the past decade. The national currency (the franc) was relatively stable against the US dollar through 2002. The introduction of a common West African currency during 2003 should help to retain that stability. However, Guinea's purchasing power parity per capita of just under US$2,000 per annum reflects the fact that it will take some years to develop a broad and viable base of consumption.

The nation's natural mineral...

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