taking capital and expertise with
them. Some have returned, many will not. Richly endowed with water,
mineral resources, forests, and a climate favorable to agriculture,
Liberia had been a producer and exporter of basic products -
primarily raw timber and rubber. Local manufacturing, mainly foreign
owned, had been small in scope. The departure of the former
president, Charles TAYLOR, to Nigeria in August 2003, the
establishment of the all-inclusive National Transition Government of
Liberia (NTGL), and the arrival of a UN mission are all encouraging
signs that the political crisis is coming to an end. The restoration
of infrastructure and the raising of incomes in this ravaged economy
depend on the implementation of sound macro- and micro-economic
policies, including the encouragement of foreign investment, and
generous support from donor countries.

Libya
The Libyan economy depends primarily upon revenues from the
oil sector, which contribute practically all export earnings and
about one-quarter of GDP. These oil revenues and a small population
give Libya one of the highest per capita GDPs in Africa, but little
of this income flows down to the lower orders of society. Libyan
officials in the past three years have made progress on economic
reforms as part of a broader campaign to reintegrate the country
into the international fold. This effort picked up steam after UN
sanctions were lifted in September 2003 and as Libya announced in
December 2003 that it would abandon programs to build weapons of
mass destruction. Libya faces a long road ahead in liberalizing the
socialist-oriented economy, but initial steps - including applying
for WTO membership, reducing some subsidies, and announcing plans
for privatization - are laying the groundwork for a transition to a
more market-based economy. The non-oil manufacturing and
construction sectors, which account for about 20% of GDP, have
expanded from processing mostly agricultural products to include the
production of petrochemicals, iron, steel, and aluminum. Climatic
conditions and poor soils severely limit agricultural output, and
Libya imports about 75% of its food.

Liechtenstein
Despite its small size and limited natural resources,
Liechtenstein has developed into a prosperous, highly
industrialized, free-enterprise economy with a vital financial
service sector and living standards on a par with i