Economy in Guinea-Bissau

Video Transcript

“They have some resources, I researched, [and] they believe there is a good reserve of oil on their coast. And some companies already got the OK to start drilling. And this is one of their resources. They have virgin forests, and that will be good for tourism. And they have ground nuts that [are] very [prosperous to the country]. But the inflation in the 2000s, late 2000s increased the price of [exporting the] ground [nuts] and that is affecting, that affected the farmers. But the political instability stopped the exploration of oil which is one of the reasons the poverty, which drove Guinea-Bissau to [become] one of the poorest countries in the world, and in Africa, actually.”

In this video, a Guinea-Bissau expert discusses the economic climate of Guinea-Bissau.