Liberia is located in Western Africa bordered by Sierra Leone, Guinea, Cote d'Ivoire, and the Atlantic Ocean. The government system is a republic. The chief of state and head of government is the President. Liberia is rebuilding a mixed economic system in which the economy includes a limited variety of private freedom, combined with weak centralized economic planning and government regulation. Liberia is a member of the African Union (AU), African Economic Community (AEC), and the Economic Community of West African States (ECOWAS).