Equatorial Guinea is one of the smallest and least populated countries in continental Africa and is the only independent African country where Spanish is an official language. Despite a boom in oil production in the s, authoritarianism, corruption, and resource mismanagement have concentrated the benefits among a small elite. These practices have perpetuated income inequality and unbalanced development, such as low public spending on education and health care. Unemployment remains problematic because the oil-dominated economy employs a small labor force dependent on skilled foreign workers. About three-quarters of the population lives below the poverty line. Equatorial Guinean children frequently enter school late, have poor attendance, and have high dropout rates. Continued inequitable economic growth and high youth unemployment increases the likelihood of ethnic and regional violence. Forestry and farming are minor components of GDP. Although preindependence Equatorial Guinea counted on cocoa production for hard currency earnings, the neglect of the rural economy since independence has diminished the potential for agriculture-led growth. Subsistence farming is the dominant form of livelihood.
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DAKAR Francisco Asue was reappointed as prime minister of Equatorial Guinea on Wednesday, the government said, after he and the government resigned last week after criticism from long-standing President Teodoro Obiang. The Central African oil producer is suffering a double economic shock linked to the coronavirus pandemic and a drop in the price of crude, which provides around three-quarters of state revenues.
Last Friday, Asue and his government tendered their resignation to Obiang, who said they had not done enough to help the country at a time of crisis. At his swearing-in ceremony, Asue said he would form a new government that would fight impunity, the authorities said in an online statement. Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor.
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IFAD has worked in Equatorial Guinea from to To date, IFAD has supported three programmes for a total cost of US $26 million, benefiting about.
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Country-At-A-Glance. Equatorial Guinea is a member of a constituency comprised of the following countries: Burundi, Cameroon, Central African Republic.
MEGI , is the largest oil producer in the country. Bioko Island is known as a biodiversity hotspot and critical habitat for seven species of endangered monkeys and four species of nesting sea turtles. MEGI has also dedicated considerable resources to programs in Equatorial Guinea with a focus on improving education and health, providing reliable sources of drinking water where it is most needed, and supporting capacity building in communities and the empowerment of women.
Additionally, MEGI has participated in infrastructure improvement works and conservation programs. ExxonMobil is committed to meeting the growing demand for energy and to power the world responsibly. With a workforce of more than 70, employees, our career-oriented approach to developing an exceptional workforce includes recruiting outstanding talent and supporting long-term professional development.
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Also known as: Republic of Equatorial Guinea: primary name: Equatorial Guinea, Republic of: other name: Guinea Ecuatorial, República de: other name: Guinée.
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COVID-19 Alert: Equatorial Guinea to Resume Domestic Flights June 15
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