Republic of Equatorial Guinea: Article IV Consultation, 2010

Republic of Equatorial Guinea: Article IV Consultation, 2010

International Monetary Fund | May 3, 2010
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An economic overview and analysis of Equatorial Guinea by the IMF for various years.

"Oil has brought great wealth and growth to the Equatoguinean economy, but challenges remain. Real GDP has increased forty-fold since 1995, and large oil revenues have allowed the government to embark on an ambitious infrastructure investment program while amassing foreign savings. Basic infrastructure is being developed, and although achievements in social areas have been muted, expenditure in this area is programmed to rise. However, with crude oil production on the decline and still-large development needs, preparations for the post-oil period outside of infrastructure should not be delayed. Longterm prospects will depend on the ability to develop a thriving non-oil sector which provides growth and employment opportunities. 

The discussions focused on policies to safeguard macroeconomic and external stability as oil revenues wane, while at the same time making progress toward achieving the wide-ranging goals set forth in the National Development Plan 2008–20 (NDP)..."

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