The economic journey of Guinea-Bissau

One of the poorest economies in the world, Guinea-Bissau represent the common picture of an average African country. Poverty, illiteracy, political instability but enriched with natural resources, but lack of funds to exploit them. The life standard of the people is hopelessly below as per the  recommendations of WHO. The entire financial practices are depending on agriculture and fisheries. But the real money making field is illegal trafficking of narcotics. The country is the biggest producer of cashew in the world. The main exports of Guinea Bissau are raw cashew and seafood along with a very small amount of timber and peanuts. 

Due to a long political crisis, the economy experienced a widespread damage and loss of infrastructure. To provide an emergency budgetary support to Guinea-Bissau, the IMF and World Bank had stepped forward with financial remedy. As a result of international support, the country is changing its path. The government is stable now and focusing on improvement of the financial condition of the country and life of its people as well. Various infrastructural changes are being planned and implemented to attract the global business investor in Guinea-Bissau. IMF sponsorship to the economy, create the faith in the national currency. Many initiatives are offered to increase the business investment opportunities in Guinea-Bissau. 

When the country is recovering from its painful past, there is high potential for development in each sector.