Meaning of banana republic

banan'a repub"lic

Pronunciation: [key]
— Usually Disparaging. Usually Disparaging.
  1. any of the small countries in the tropics, esp. in the Western Hemisphere, whose economies are largely dependent on fruit exports, tourism, and foreign investors.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.