chief of mission: Ambassador (vacant) embassy: K-3, Carreterade Aeropuerto, al lado de Restaurante El Paraiso, Malabo; note - relocated embassy is opened for limited functions; inquiries should continue to be directed to the US Embassy in Yaounde, Cameroon mailing address: B.P. 817, Yaounde, Cameroon; US Embassy Yaounde, US Department of State, Washington, DC 20521-2520 telephone: [237] 2220-1500 FAX: [237] 2220-1572
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
Equatorial Guinea
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 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 trying to agree on a "shadow" fiscal management program with the World Bank and IMF. Government officials and their family members own most businesses. Undeveloped natural resources include titanium, iron ore, manganese, uranium, and alluvial gold. Growth remained strong in 2007, led by oil.
GDP (purchasing power parity):
$15.54 billion (2007 est.)
GDP (official exchange rate):
$10.49 billion (2007 est.)