Equatorial+Guinea+Stability

Discussion:
> Corruption in Equatorial Guinea is rampant. President Obiang owns two luxury homes in the Washington, D.C., area, and his son owns two homes and numerous luxury cars in California. In fact, it is estimated that the President’s son spent more on houses and cars alone between 2004 and 2006 than the entire government spent on education in the year of 2005. Facts involving the Equatorial Guinea government’s siphoning of natural resource profits were revealed in a 2004 U.S. Senate investigation of Riggs Bank, which was could no longer continue operations due to financial improprieties partly involving questionable funds from Equatorial Guinea. The Obiang family dominates private business in the country so commerce there benefits them first and foremost, rather than provide a means of economic opportunity more broadly. >>
 * Equatorial Guinea is an example of how the resource curse works. It is a small country with a population of slightly more than half a million people, but a Gross Domestic Product that has increased more than 125 times—not 125 percent—since oil production began in the mid- 1990s. On paper, the wealth per capita in Equatorial Guinea is as high as almost any wealthy country in Africa. Yet if you visit the country and move beyond the gleaming new hotels and resorts, you will find numerous people who are forced to survive on a $1 a day or less.
 * Not accepted into EITI:.
 * therefore it is likely that the exploitation of natural resources in Equatorial Guinea will only benefit those in power, contributing to further instability.
 * Reducing African debt. From 2010 to 2012, China canceled 16 debts owed by Mali, Equatorial Guinea, Cameroon, Benin, Togo, Cote d'Ivoire and other countries, greatly reducing the debts of African countries.