Background:
Eight years of civil strife were brought to a close in 1997 when
free and open presidential and legislative elections were held.
President TAYLOR now holds strong executive power with no real
political opposition. Years of fighting, coupled with the flight of
most businesses, have disrupted formal economic activity. A still
unsettled domestic security situation has slowed the process of
rebuilding the social and economic structure of this war-torn
country. In 2001, the UN imposed sanctions on Liberian diamonds,
along with an arms embargo and a travel ban on government officials,
for Liberia's support of the rebel insurgency in Sierra Leone.
Renewed rebel activity has further eroded stability and economic
activity. A regional peace initiative commenced in the spring of
2003 but was disrupted by the Special Court for Sierra Leone (SCSL)
indictment of President TAYLOR on war crimes charges.