In 1994, 20 years after independence from Portugal, the country's first multiparty legislative and presidential elections were held. An army uprising that triggered a bloody civil war in 1998, created hundreds of thousands of displaced persons. The president was ousted by a military junta in May 1999. An interim government turned over power in February 2000 when opposition leader Koumba YALLA took office following two rounds of transparent presidential elections. Guinea-Bissau's transition back to democracy will be complicated by a crippled economy devastated by civil war and the military's predilection for governmental meddling. One of the 20 poorest countries in the world, Guinea-Bissau depends mainly on farming and fishing. Cashew crops have increased remarkably in recent years, and the country now ranks sixth in cashew production. Guinea-Bissau exports fish and seafood along with small amounts of peanuts, palm kernels, and timber. Rice is the major crop and staple food. However, intermittent fighting between Senegalese-backed government troops and a military junta destroyed much of the country's infrastructure and caused widespread damage to the economy in 1998; the civil war led to a 28% drop in GDP that year, with partial recovery in 1999. Before the war, trade reform and price liberalization were the most successful part of the country's structural adjustment program under IMF sponsorship. The tightening of monetary policy and the development of the private sector had also begun to reinvigorate the economy. Because of high costs, the development of petroleum, phosphate, and other mineral resources is not a near-term prospect. However, unexploited off-shore oil reserves could provide much-needed revenue in the long run.
Guinea-Bissau is among the world's least developed nations and depends mainly on agriculture and fishing. Guinea-Bissau exports some fish and seafood, along with small amounts of peanuts, palm kernels, and timber. License fees for fishing provide the government with some revenue. Rice is the major crop and staple food. Because of high costs, the development of petroleum, phosphate, and other mineral resources is not a near-term prospect. However, unexploited offshore oil reserves may possibly provide much-needed revenue in the long run.
Guinea-Bissau's first multi-party elections for president and parliament were held in 1994. Following the 1998-99 civil war, presidential and legislative elections were again held, bringing opposition leader Kumba Yala and his PRS party to power. The PRS currently holds 38 of 102 National Assembly seats and 18 of 25 Cabinet seats.
The import and export of local currency is prohibited. The import of foreign currency is unlimited, provided it is declared on arrival, and the export of foreign currency is limited to the amount declared on arrival.
Ask permission before taking photographs of the airport, docks, or military or police installations.
The monsoon season occurs between June and November.