The UN has imposed sanctions on Liberian diamonds, along with an arms embargo and a travel ban on government officials, for Liberia's support of the rebel insurgency in Sierra Leone.
Eight years of civil strife were brought to a close in 1997 when free and open presidential and legislative elections were held.
Years of fighting, coupled with the flight of most businesses, have disrupted formal economic activity. A still unsettled domestic security situation has slowed the process of rebuilding the social and economic structure of this war-torn country.
Renewed rebel activity has further eroded stability and economic activity. An August 2003 peace agreement ended the war and prompted the resignation of former president Charles TAYLOR, who faces war crimes charges in The Hague related to his involvement in Sierra Leone's civil war. After two years of rule by a transitional government, democratic elections in late 20
However, as Liberia moves into the 1920s, as affected by the deteriorating civil war status, the export sector growth was significantly influenced as the United States withdrew funds to Liberia's wool production, which is a prevalent source of the country's output. The technological advances made by the country in the 1960s also experienced a decline that had disrupted the ongoing growth. Ever since the outbreak of World War II,