Careers, Jobs and Education Resources for: Equatorial Guinea

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 Teodoro OBIANG NGUEMA MBASOGO has ruled the country since 1979 when he seized power in a coup. Although nominally a constitutional democracy since 1991, the 1996 and 2002 presidential elections - as well as the 1999 and 2004 legislative elections - were widely seen as flawed. The president exerts almost total control over the political system and has discouraged political opposition. Equatorial Guinea has experienced rapid economic growth due to the discovery of large offshore oil reserves, and in the last decade has become Sub-Saharan Africa's third largest oil exporter. 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 population's living standards. (from the CIA)

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Economic Overview

The discovery and exploitation of large oil reserves have contributed to dramatic economic growth in recent years. forestry, farming, and fishing are also 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. no longer eligible for concessional financing because of large oil revenues, the government has been trying to agree on a "shadow" fiscal management program with the world bank and imf. government officials and their family members own most businesses. undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. growth remained strong in 2007, led by oil.

Environmental Issues

Tap water is not potable; deforestation

Government Type

Republic

Population

616,459 (july 2008 est.)

Location

Western africa, bordering the bight of biafra, between cameroon and gabon

Area

Total: 28,051 sq km land: 28,051 sq km water: 0 sq km

Slightly smaller than maryland

Country Aliases

Conventional long form: republic of equatorial guinea conventional short form: equatorial guinea local long form: republica de guinea ecuatorial/republique de guinee equatoriale local short form: guinea ecuatorial/guinee equatoriale former: spanish guinea

Capital

Name: malabo geographic coordinates: 3 45 n, 8 47 e time difference: utc+1 (6 hours ahead of washington, dc during standard time)

Military Service

18 years of age (est.) for compulsory military service (2008)

International Disputes

In 2002, icj ruled on an equidistance settlement of cameroon-equatorial guinea-nigeria maritime boundary in the gulf of guinea, but a dispute between equatorial guinea and cameroon over an island at the mouth of the ntem river and imprecisely defined maritime coordinates in the icj decision delay final delimitation; un urges equatorial guinea and gabon to resolve the sovereignty dispute over gabon-occupied mbane and lesser islands and to create a maritime boundary in the hydrocarbon-rich corisco bay

Sources: Central Intelligence Agency (CIA)



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