Guinea-Bissau has been ruled by the PAIGC since independence in 1974. Since 1990, it has been moving slowly toward multiparty democracy. The country's first multiparty elections were eventually held in 1994, after repeated postponements. The elections, which were declared free and fair by international observers, saw the PAIGC returned to power with an absolute majority. The opposition has, however, disputed the result and declared its intention not to participate in the new government, and continuing political instability is probable.