chancery: 2020 16th Street NW, Washington, DC 20009
telephone: [1] (202) 518-5700
FAX: [1] (202) 528-5252
Diplomatic representation from the US: chief of mission: Ambassador
John M. YATES; note - the US does not have an embassy in Equatorial
Guinea (embassy closed September 1995); US relations with Equatorial
Guinea are handled through the US Embassy in Yaounde, Cameroon; the
US State Department is considering opening a Consulate Agency in
Malabo
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)
Equatorial Guinea Economy
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 and high world oil prices stimulated growth in 2000, with oil accounting for 90% of greatly increased exports.
GDP: purchasing power parity - $960 million (2000 est.)
GDP - real growth rate: 12% (2000 est.)
GDP - per capita: purchasing power parity - $2,000 (2000 est.)