e country is positioning
itself as the region's financial and high-tech hub.

Slovakia:
Slovakia continues the difficult transition from a
centrally planned economy to a modern market economy. The economic
slowdown in 1999 stemmed from large budget and current account
deficits, fast-growing external debt, and persistent corruption.
Even though GDP growth reached only 2.2% in 2000, the year was
marked by positive developments such as foreign direct investment of
$1.5 billion, strong export performance, restructuring and
privatization in the banking sector, entry into the OECD, and
initial efforts to stem corruption. Strong challenges face the
government in 2001, especially the maintenance of fiscal balance,
the further privatization of the economy, and the reduction of
unemployment.

Slovenia:
Although Slovenia enjoys one of the highest GDPs per
capita among the transition economies of Central Europe, it needs to
speed up the privatization process and the dismantling of
restrictions on foreign investment. About 45% of the economy remains
in state hands, and the level of foreign direct investment inflows
as a percent of GDP is the lowest in the region. Analysts are
predicting between 4.0% and 4.2% growth for 2001. Export growth is
expected to slow in 2001 and 2002 as EU markets soften. Inflation
rose from 6.1% to 8.9% in 2000 and remains a matter of concern.

Solomon Islands:
The bulk of the population depends on agriculture,
fishing, and forestry for at least part of their livelihood. Most
manufactured goods and petroleum products must be imported. The
islands are rich in undeveloped mineral resources such as lead,
zinc, nickel, and gold. However, severe ethnic violence, the closing
of key business enterprises, and an empty government treasury have
led to a continuing economic downslide. Deliveries of crucial fuel
supplies (including those for electrical generation) by tankers have
become sporadic due to the government's inability to pay and attacks
against ships. Telecommunications are threatened by the lack of
technical and maintenance staff many of whom have left the country.

Somalia:
One of the world's poorest and least developed countries,
Somalia has few resources. Moreover, much of the economy has been
devastated by the civil war. Agriculture is the most important
sector, with livestock accounting for about 40% of GDP and about 65%