Economy

A sharp drop in the price of oil has prompted Gabon to revise its expenditure plans. In light of decreasing revenues from its major export earner, authorities have started to take action. In early 2015, faced with oil prices of under $50 per barrel, the government organised a seminar to discuss the issue, announcing that a revision of the budget...

Although it remains deeply influenced by its historical ties to Europe, Gabon has strived in recent years to broaden its economic and diplomatic partners. France remains one of the country’s closest trading partners and also one of its largest investors. With several emerging economic powers from elsewhere in Asia and Africa playing a bigger...

While the Economic Community of Central African States (Communauté Économique et Monétaire de l’Afrique Centrale, CEMAC) has a functioning monetary union as well as a range of regional financial institutions and bloc-wide economic policies in place, progress towards greater economic integration has faced a number of significant challenges....

CEMAC countries have to face major challenges with regards to their economic and political situations. On the security side, the political upheaval in the Central African Republic and the development of terrorism along CEMAC borders, notably from Boko Haram, is threatening the entire region and, consequently, the capacity to attract investment.