Guinea's Unequal Processes And Corruption Essay

1197 words - 5 pages

1To: Dr. ReinboldFrom: Chant LongDate: October 12th, 2014Re: A Goal Focused on Unequal Processes and Corruption in GuineaIntroductionGuinea is ranked on the list of MSN's Money as one of the top 10 worst economies in the world. Not only is it ranked on this list, but a few other lists as well. The quality of Guinea's infrastructure is very bad and the country has one of the least reliable sources of electricity in the world. The healthcare in Guinea is not far behind as one of the critical issues of this country. In 2010, there were 38,000 incidents of malaria per every 100,000 people in the country. Poor health and primary education means that workers are sick more often and less likely to adapt to new work environments which all plays a role in the struggling Guinea living and economic environment. All of these problems have plagued Guinea due to the corruption that this country has seen over a long period of time. Given the efforts by Guinea's current government along with help from international countries, Guinea's corruption will be phased out as well as new policies put in place to deal with the weakened economy and previous corruption that has compressed this country.Factual BackgroundGuineas' economic freedom is ranked at a score of 53.5 making it the 133rd freest country in the 2014 rankings. Over the last 20 years in Guinea, the progress toward greater economic freedom has been unequal, but typically going in a downward spiral overall. Property rights, business freedom, monetary freedom, and financial freedom have all become deteriorated statistics for the country of Guinea (Guinea, 2014). The entrepreneurial environment in Guinea remains oppressed because of several factors plaguing this country. An overbearing regulatory framework, exacerbated by poor access to credit and high financing costs, stifles economic activity and hurts the business expansion and growth of a successful private sector. The main problem in this country is corruption, which is perceived as the underlining problem to a crippling Guinea economy (Guinea, 2014).Corruption was a severe threat and a serious problem that many government activities were shrouded in secrecy, especially when it dealt with the mining of Guinea's natural resources. Guinea has rich natural resources, but the majority of the country remains in poverty because of the corrupted system that held the country's resources hostage or for self-gain and prosperity. Despite the demonstration of a modest degree of independence in the previous years, the court system remained the subject of political interference and lacks transparency (Guinea, 2014).Since Guinea sits atop of one of the world's largest untapped iron-ore deposits, one can only imagine the corruptive measures that have taken place for a country to still be one of the poorest. Its natural resources should make this country wealthy, but generations of Guinean leaders have used this natural resource through mismanagement and corruption...

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