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Union of Guinean Workers or USTG [Dr. Ibrahima FOFANA]); National Council of Civil Society Organizations of Guinea or CNOSCG [Ben Sekou SYLLA]; Syndicate of Guinean Teachers and Researchers or SLECG [Dr. Louis M'Bemba SOUMAH] International organization participation: ACP, AfDB, AU, ECOWAS, FAO, G-77, IBRD, ICAO, ICCt, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO (correspondent), ITSO, ITU, ITUC, MIGA, MINURSO, NAM, OIC, OIF, OPCW, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNMIS, UNOCI, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO Diplomatic representation in the US: chief of mission: Ambassador Mory Karamoko KABA chancery: 2112 Leroy Place NW, Washington, DC 20008 telephone: [1] (202) 483-9420 FAX: [1] (202) 483-8688 Diplomatic representation from the US: chief of mission: Ambassador (vacant); Charge d'Affaires Elizabeth RASPOLIC embassy: Koloma, Conakry, east of Hamdallaye Circle mailing address: B. P. 603, Transversale No. 2, Centre Administratif de Koloma, Commune de Ratoma, Conakry telephone: [224] 65-10-40-00 FAX: [224] 65-10-42-97 Flag description: three equal vertical bands of red (hoist side), yellow, and green; uses the popular pan-African colors of Ethiopia Economy Guinea Economy - overview: Guinea possesses major mineral, hydropower, and agricultural resources, yet remains an underdeveloped nation. The country has almost half of the world's bauxite reserves and is the second-largest bauxite producer. The mining sector accounts for over 70% of exports. Long-run improvements in government fiscal arrangements, literacy, and the legal framework are needed if the country is to move out of poverty. Investor confidence has been sapped by rampant corruption, a lack of electricity and other infrastructure, a lack of skilled workers, and the political uncertainty due to the failing health of President Lansana CONTE. Guinea is trying to reengage with the IMF and World Bank, which cut off most assistance in 2003, and is working closely with technical advisors from the U.S. Treasury Department, the World Bank and IMF, seeking to return to a fully funded program. Growth rose slightly in 2006-07, primarily due to increases in global demand and commodity prices on world markets, but the standard of living fell. The Guinea franc depreciated sharply as the prices for basic necessities like food and fuel rose beyond the reach of most Guineans. Dissatisfa
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