Liberia
Eight years of civil strife were brought to a close in 1997
when free and open presidential and legislative elections were held.
President TAYLOR now holds strong executive power with no real
political opposition. 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. In 2001, the UN imposed sanctions on Liberian diamonds,
along with an arms embargo and a travel ban on government officials,
for Liberia's support of the rebel insurgency in Sierra Leone.
Renewed rebel activity has further eroded stability and economic
activity. A regional peace initiative commenced in the spring of
2003 but was disrupted by the Special Court for Sierra Leone (SCSL)
indictment of President TAYLOR on war crimes charges.
Libya
Since he took power in a 1969 military coup, Col. Muammar Abu
Minyar al-QADHAFI has espoused his own political system - a
combination of socialism and Islam - which he calls the Third
International Theory. Viewing himself as a revolutionary leader, he
used oil funds during the 1970s and 1980s to promote his ideology
outside Libya, even supporting subversives and terrorists abroad to
hasten the end of Marxism and capitalism. Libyan military adventures
failed, e.g., the prolonged foray of Libyan troops into the Aozou
Strip in northern Chad was finally repulsed in 1987. Libyan support
for terrorism decreased after UN sanctions were imposed in 1992.
Those sanctions were suspended in April 1999.
Liechtenstein
The Principality of Liechtenstein was established
within the Holy Roman Empire in 1719; it became a sovereign state in
1806. Until the end of World War I, it was closely tied to Austria,
but the economic devastation caused by that conflict forced
Liechtenstein to enter into a customs and monetary union with
Switzerland. Since World War II (in which Liechtenstein remained
neutral), the country's low taxes have spurred outstanding economic
growth. However, shortcomings in banking regulatory oversight have
resulted in concerns about the use of the financial institutions for
money laundering.
Lithuania
Independent between the two World Wars, Lithuania was
annexed by the USSR in 1940. On 11 March 1990, Lithuania became the
first of the Soviet republics to declare its independence, but this
proclamation was not generally recognized until September of 1991
(following the abortive coup in Moscow). The last Russian troops
withdrew in 1993. Lithuania subsequently has restructured its
economy for eventual integration into Western European institutions
and was invited to join NATO and the EU in 2002.
Luxembourg
Founded in 963, Luxembourg became a grand duchy in 1815
and an independent state under the Netherlands. It lost more than
half of its territory to Belgium in 1839, but gained a larger
measure of autonomy. Full independence was attained in 1867. Overrun
by Germany in both World Wars, it ended its neutrality in 1948 when
it entered into the Benelux Customs Union and when it joined NATO
the following year. In 1957, Luxembourg became one of the six
founding countries of the European Economic Community (later the
European Union) and in 1999 it joined the euro currency area.
Macau
Colonized by the Portuguese in the 16th century, Macau was the
first European settlement in the Far East. Pursuant to an agreement
signed by China and Portugal on 13 April 1987, Macau became the
Macau Special Administrative Region (SAR) of China on 20 December
1999. China has promised that, under its "one country, two systems"
formula, China's socialist economic system will not be practiced in
Macau and that Macau will enjoy a high degree of autonomy in all
matters except foreign and defense affairs for the next 50 years.
Macedonia, The Former Yugoslav Republic of
International recognition
of The Former Yugoslav Republic of Macedonia's (F.Y.R.O.M.)
independence from Yugoslavia in 1991 was delayed by Greece's
objection to the new state's use of what it considered a Hellenic
name and symbols. Greece finally lifted its trade blockade in 1995,
and the two countries agreed to normalize relations, despite
continued disagreement over F.Y.R.O.M.'s use of "Macedonia."
F.Y.R.O.M.'s large Albanian minority, an ethnic Albanian armed
insurgency in F.Y.R.O.M. in 2001, and the status of neighboring
Kosovo continue to be sources of ethnic tension.
Madagascar
Formerly an independent kingdom, Madagascar became a
French colony in 1886, but regained its independence in 1960. During
1992-93, free presidential and National Assembly elections were
held, ending 17 years of single-party rule. In 1997, in the second
presidential race, Didier RATSIRAKA, the leader during the 1970s and
1980s, was returned to the presidency. The 2001 presidential
election was contested between the followers of Didier RATSIRAKA and
Marc RAVALOMANANA, nearly causing secession of half of the country.
In April 2002, the High Constitutional Court announced RAVALOMANANA
the winner.
Malawi
Established in 1891, the British protectorate of Nyasaland
became the independent nation of Malawi in 1964. After three decades
of one-party rule, the country held multiparty elections in 1994
under a provisional constitution, which took full effect the
following year. National multiparty elections were held again in
1999.
Malaysia
Malaysia was formed in 1963 through a federation of the
former British colonies of Malaya and Singapore, including the East
Malaysian states of Sabah and Sarawak on the northern coast of
Borneo. The first several years of the country's history were marred
by Indonesian efforts to control Malaysia, Philippine claims to
Sabah, and Singapore's secession from the federation in 1965.