Guinea: Economic diversification and good governance at the heart of the debate
President Alpha Condé and other Guinean officials are gathering here
for a two-day forum, along with development partners, for talks on
diversifying the Guinean economy and shoring up democratic governance.
Despite the country's substantial mining resources and agricultural
and energy potential, nearly four out of every six Guineans live below
the poverty line. Its economy is heavily dependent on mining, mineral
production, and farming.
The forum will provide an opportunity to discuss the development
strategies being formulated in Guinea, based on successful economic
diversification experiments in other countries.
Major economic reforms introduced in 2011 are expected to slash the
small West African country's external debt, as part of the Heavily
Indebted Poor Countries initiative, while Guinea is also transitioning
The forum will address the country's potential in the mining sector
and options for broadening its economic base, while focusing on
development of agriculture, energy and infrastructure, better governance
and the private sector.
This would involve channelling mining revenues to open up mining
infrastructures and markets, diversify the economy and promote inclusive
development, including creating jobs for Guineans of all ages.
Guinea held its first democratic presidential election in 2010—the
first in more than half a century. Parliamentary elections are now
required to complete the transition, after which Guinea will also be
able to mobilise resources for development from technical and financial
UNDP has supported governance in Guinea since 2007 through an
assistance programme that covers elections, justice, human rights and
reform of the security sector.