Background: Composed of a mainland portion and five inhabited islands Equatorial Guinea has been ruled by ruthless leaders who have badly mismanaged the economy since independence from 190 years of Spanish rule in 1968. Although nominally a constitutional democracy since 1991 the 1996 presidential and 1999 legislative elections were widely seen as being flawed.
Legislative branch: unicameral House of People's Representatives or Camara de Representantes del Pueblo (80 seats; members directly elected by popular vote to serve five-year terms)
Political parties and leaders: Convergence Party for Social Democracy or CPDS [Placido Miko ABOGO]; Democratic Party for Equatorial Guinea or PDGE (ruling party) [Augustin Nse NFUMU]; Party for Progress of Equatorial Guinea or PPGE [Severo MOTO]; Popular Action of Equatorial Guinea or APGE [Miguel Esono EMAN]; Popular Union or UP [Fabian MUSA general secretary]; Progressive Democratic Alliance or ADP [Victorino Bolekia BONAY mayor of Malabo]
International organization participation: ACCT ACP AfDB BDEAC CEEAC ECA FAO FZ G-77 IBRD ICAO ICRM IDA IFAD IFC IFRCS ILO IMF IMO Intelsat Interpol IOC ITU NAM OAS (observer) OAU OPCW UDEAC UN UNCTAD UNESCO UNIDO UPU WHO WIPO WToO WTrO (applicant)
Flag description: three equal horizontal bands of green (top) white and red with a blue isosceles triangle based on the hoist side and the coat of arms centered in the white band; the coat of arms has six yellow six-pointed stars (representing the mainland and five offshore islands) above a gray shield bearing a silk-cotton tree and below which is a scroll with the motto UNIDAD PAZ JUSTICIA (Unity Peace Justice)
Economy 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 deterioration of the rural economy under successive brutal regimes has diminished potential for agriculture-led growth. A number of aid programs sponsored by the World Bank and the IMF have been cut off since 1993 because of the government's gross corruption and mismanagement. 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. The country responded favorably to the devaluation of the CFA franc in January 1994. Boosts in production along with high world oil prices should further stimulate growth in 2000-2001.
Exports: $555 million (f.o.b. 1999) Commodities: petroleum timber cocoa Partners: US 62% Spain 17% China 9% France 3% Japan 3% (1997)
Imports: $300 million (f.o.b. 1999) Commodities: petroleum manufactured goods and equipment Partners: US 35% France 15% Spain 10% Cameroon 10% UK 6% (1997)
Disputes international: exclusive maritime economic zone boundary dispute with Cameroon is presently before the ICJ; maritime boundary dispute with Gabon because of disputed sovereignty over islands in Corisco Bay; maritime boundary dispute with Nigeria and Cameroon because of disputed jurisdiction over oil-rich areas in the Gulf of Guinea