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Liberia is rich in timber, gold, diamonds, iron ore and has extensive rubber plantations. In the past, the economy flourished on the basis of these resources. During the civil war a corrupt and predatory economy developed, devastating Liberia's infrastructure and economy, and leaving the country with little in the way of a public administration or official records. There is a history of extremely poor financial management, both under Taylor and under the NTGL. UN Sanctions on the export of diamonds were renewed for a further six months on 20 December 2006. Sanctions on timber were lifted in June 2006...
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