The history of Liberia is unique among African nations, due to its roots as a colony founded by freed slaves from the United States. These freed slaves formed an elite group in Liberian society, and, in 1847, formed a government based on that of the United States, naming their capital city after James Monroe, the fifth president of the United States. Between 1461 and late seventeenth century, Portuguese, Dutch and British traders had contacts and trading posts in Liberia. The Portuguese had named the area Costa da Pimenta, later translated as Grain Coast, because of the abundance of grains of melegueta pepper.
The Liberian economy depends heavily on iron ore and rubber exports, foreign direct investment, as well as the export of its other natural resources,such as timber. Agricultural products include livestock (goats, pigs, cattle) and rice, the staple food. Fish are raised on inland farms and caught along the coast. Other foods are imported to support the population. Dams and oil-fired plants are used to supply the country with elecrticity
Liberia continues to suffer with poor economic performance because of its fragile security situation, the devastation wrought by its long war, its lack of infrastructure, and necessary human capital to help the country recover from the scourges of conflict and corruption. Liberia has one of the world’s largest national registries of ships, due to its status as a “flag of convenience”
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Country Population: 3,283,000
Country Capital: Monrovia
Country Currency: Liberian Dollar