One side turns in Guinea, following the military coup that overthrew President Alpha Condé on Sunday. At the head of the country for more than 10 years, the former historical opponent still leaves the country in an economic situation far beyond its potential. In his first public speech since the coup, Mamady Doumbouya wanted to be reassuring, especially for investors.
The socio-political and economic situation, “economic mismanagement, poverty and endemic corruption” are among the reasons announced by Lieutenant Colonel Mamady Doumbouya to justify his coup.
The economic reforms adopted and welcomed by the World Bank during the second termAlpha Condé promoting economic growth will therefore not have had time to demonstrate its effectiveness or its limits to improve the daily lives of Guineans.
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And so that the first days of the coup do not destabilize an economy that still relies on the rental of raw materials, the new master of Guinea very quickly tried to reassure partners and foreign investors by publicly declaring that economic contracts and mining contracts signed under Alpha Condé will be respected .
“The Committee intends to assure Guinea’s economic and financial partners of normal activities in the country,” he said. Mamady Doumbouya. Mining companies are encouraged to continue their operations. The curfew in the mining areas has been lifted to ensure the continuity of production. The Committee assures the partners that it will respect all its obligations under mining conventions and reiterates its commitment to promote foreign investment in its country. ”
And to show their good faith, while the new administration is not yet constituted, the putschists have left the sea borders open, especially to export bauxite, of which the country is one of the world’s leading manufacturers. Guinea also has deposits of iron, gold and diamonds.
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