In 2003, additional UN sanctions were placed on Liberian timber exports, which had risen from US$5 million in 1997 to over US$100 million in 2002 and were believed to be funding rebels in Sierra Leone. These sanctions were lifted in 2006. Due in large part to foreign aid and investment inflow following the end of the war, Liberia maintains a large account deficit, which peaked at nearly 60% in 2008. Liberia gained observer status with the World Trade Organization in 2010 and is in the process of acquiring full member status.
Why were sanctions place on Liberian timber exports?
were believed to be funding rebels in Sierra Leone.