IMF has strong faith in Equatorial Guinea

President of Equatorial Guinea, H.E. Obiang Nguema Mbasogo visits a vegetable distribution center.

Early infrastructure investments and development partners help Equatorial Guinea diversification plan remain on course.

“Without a doubt, Equatorial Guinea has set the model for development in Africa. Opportunity is clearly marked for African and international investors.”
— Victor Mooney, Spirit of Malabo Group

Equatorial Guinea continues to draw a diversified pool of investors looking to capitalize on the political and social stability, fair tax laws, limited bureaucracy, maritime stewardship and the thirty million consumers that call Central Africa home.

H.E. Obiang Nguema Mbasogo, The President, Horizonte 2020 Development Plan, has become a road-map for African countries to study. Equatorial Guinea has identified key sectors to diversify the economy. Agriculture, telecommunications, fishing, banking, tourism and shipping sectors are benefiting from the heavy infrastructure investments.

Throughout the territory, Equatorial Guinea has also made substantial investments in human services. Namely in social housing, new home construction, hospitals, job creation with an emphasis on the youth,and establishing education facilities. These unprecedented accomplishments didn’t go unnoticed from the International Monetary Fund, the United Nations Development Fund,and other global institutions respectively.

The Prime Minister, Charged with Administrative Coordination, Francisco Pascual Obama Asue, met over the weekend at his office at the headquarters of the Presidency of the Government, the Representative of the International Monetary Fund (IMF) for Equatorial Guinea, Juan Carlos Ondo Angüe. The two discussed economic climate and exchange ideas.

Equatorial Guinea has also cemented itself as a strategic meeting place to host global conferences where leaders, private sector and civil society can have a discussion on common interest. Last month, the country hosted the Fourth African Arab Summit where the emphasis was on economic cooperation and sustainable development. Among other partners, the Peoples Republic of China continues to play a pivotal role in furthering stronger relations with Equatorial Guinea.

Without a doubt, Equatorial Guinea has set the model for development in Africa. Opportunity is clearly marked for African and international investors, says Victor Mooney, Spirit of Malabo Group.

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