Gabon

The Gabonese Republic or Gabon, is a nation of west central Africa. It borders on Equatorial Guinea, Cameroon, Republic of the Congo and the Gulf of Guinea. Ruled by autocratic presidents since independence from France on August 17, 1960, Gabon introduced a multiparty system and a new constitution in the early 1990s that allowed for a more transparent electoral process and for reforms of governmental institutions. A small population, abundant natural resources, and foreign private investment have helped make Gabon one of the more prosperous countries in the region.

Economy

Main article: Economy of Gabon

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Gabon is more prosperous than most nearby countries, with a per capita income of four times the average for Sub-Saharan Africa. This is in large part due to offshore oil production that has produced substantial wealth, although the distribution of income from this industry is extremely unequal.

Related Topics:
Per capita income - Sub-Saharan Africa - Oil

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During the 1990s, devaluation of the CFA franc left Gabon struggling to pay its overseas debt; France and the IMF have provided further loans and aid in exchange for the implementation of changes to the economy.

Related Topics:
Devaluation - CFA franc - Debt - France - IMF

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