The Kuwait of Africa

The Kuwait of Africa

Rebecca Leung July 18, 2004
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An overview of the political and economic situation in Equatorial Guinea, with emphasis on the country's lack of social development despite its incredible wealth.


"With gas prices hitting record levels this summer, and violence in the Middle East unabated, America has been scouring the globe searching for new sources of oil. 

And one could be Equatorial Guinea, a tiny nation that's been dubbed the Kuwait of Africa because it has so few people and so much oil. 

It used to be called the armpit of Africa because it was so desperately poor. But since the discovery of oil 10 years ago, that has started to change..."


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