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. President TAYLOR, who won the 1997 presidential elections after an eight-year-long civil war, was never able to fully eliminate rebel groups that sought to oust him by force. Rebel attacks on Monrovia, coupled with two years of UN-imposed sanctions for TAYLOR'S meddling in Sierra Leone's civil war, finally prompted TAYLOR'S abdication from power in August 2003. A transitional government - composed of rebel, government, and civil society groups - assumed control in October 2003. Chairman Gyude BRYANT, who has a two-year mandate to oversee efforts to rebuild Liberia, heads the new government.

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