Region:
Middle Africa
Capital:
Malabo
Population:
523 051 (July
2004 est.)
Surface
area:
28 051 square
km
Currency:
bata
GDP
per capita:
$2 700 (2002
est.)
Background:
Equatorial
Guinea gained
independence
in 1968 after
190 years of
Spanish rule.
This tiny country,
composed of a
mainland portion
plus five inhabited
islands, is one
of the smallest
on the African
continent. President
OBIANG NGUEM
MBASOGO has ruled
the country for
over two decades
since seizing
power from his
uncle, then President
MACIAS, in a
1979 coup. Although
nominally a constitutional
democracy since
1991, the 1996
and 2002 presidential
elections - as
well as the 1999
legislative elections
- were widely
seen as being
flawed. The president
controls most
opposition parties
through the judicious
use of patronage.
Despite the country's
economic windfall
from oil production
resulting in
a massive increase
in government
revenue in recent
years, there
have been few
improvements
in the country's
living standards.
Economy
– overview:
Oil,
forestry, farming,
and fishing are
major components
of GDP. Subsistence
farming predominates.
Although pre-independence
Equatorial Guinea
counted on cocoa
production for
hard currency
earnings, the
neglect of the
rural economy
under successive
regimes has diminished
potential for
agriculture-led
growth. (The
government has
stated its intention
to reinvest some
oil revenue into
agriculture).
A number of aid
programs sponsored
by the World
Bank and the
IMF have been
cut off since
1993 because
of corruption
and mismanagement.
Businesses, for
the most part,
are owned by
government officials
and their family
members. Undeveloped
natural resources
include titanium,
iron ore, manganese,
uranium, and
alluvial gold.
United
Nations Membership
date:
12 November 1968
New
York Mission:
Permanent Mission
of Equatorial
Guinea to the
United Nations,
242 East 51st
Street, New York,
N.Y. 10022
Telephone: 212-223-2324
/ 2325 / 2348
Fax: 212-223-2366
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