General background: Composed of a mainland portion
and five inhabited islands, Equatorial Guinea, which gained
independence in 1968 after 190 years of Spanish rule,
has been ruled by President OBIANG NGUEM MBASOGO since
he seized power in a coup in 1979. Although nominally
a constitutional democracy since 1991, the 1996 presidential
and 1999 legislative elections were widely seen as being
flawed.
Area comparative: Slightly smaller
than Maryland
Climate: Tropical; always
hot, humid
Terrain: Coastal plains rise
to interior hills; islands are volcanic
Population: 498,144 (July 2002 est.)
Ethnic groups: Bioko (primarily Bubi, some Fernandinos),
Rio Muni (primarily Fang), Europeans less than 1,000,
mostly Spanish
Religions: Nominally Christian and predominantly
Roman Catholic, pagan practices
Language: Spanish (official), French (official),
pidgin English, Fang, Bubi, Ibo
Government type: Republic
Capital: Malabo
Legal system: Partly based on Spanish civil
law and tribal custom.
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 unsuccessfully
trying to agree on a "shadow" fiscal management
program with the World Bank and IMF. 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. Boosts in production and higher world
oil prices stimulated growth in 2002, with oil accounting
for 90% of increased exports.
Communication/Telephone system: Poor system with
adequate government services.
Places of interest: About the only attraction aside
from the beach is the many bars that you'll find on
almost every corner of every village and town.
Travel tips:
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