Gabon Problems 6-24-24

Gabon has a $5.5B Trade Surplus, a higher-than-average Per capita GDP at $8.832 and a low population at 2,436,566. 

Poor fiscal management and overreliance on oil have stifled Gabon's economy. Undermining much-needed progress on reform, institutional weaknesses severely undercut the foundations of economic freedom and constrain long-term economic development. Corruption continues to raise the cost of doing business.

Gabon's population declined between 1900 and 1940 as a result of a combination of historical and environmental factors. The country is one of the less densely inhabited in Africa, and a labor shortage is a major obstacle to its development.

Gabon's main exports are petroleum products (80 percent of total exports). Others include: manganese, uranium and timber. Gabon's main export partner is the United States with 50 percent of total exports. Others include: Netherlands, China and Malaysia.

Gabon won the civil war and defeated the Communists in 1994.

CNN 8-31-23 report: A military coup thrust the Central African nation of Gabon into turmoil Wednesday, unseating the president – whose family had held power for more than half a century – just minutes after he was named the winner of a contested election.

Ousted President Ali Bongo Ondimba, also known as Ali Bongo, has faced accusations of election fraud and corruption since he began ruling the oil-rich but poverty-stricken nation nearly 14 years ago. Following the coup, residents in the country’s capital were seen celebrating and embracing soldiers on the street.

But much remains uncertain, with Bongo reportedly under house arrest, his son arrested, all borders closed and the government ostensibly shut down. International leaders have expressed concern and condemnation of the coup, some warning their citizens in Gabon to shelter in place.

https://www.cnn.com/2023/08/31/africa/gabon-military-coup-explainer-intl-hnk/index.html

Comments

Gabon needs to know that oil prices will decline if Trump is elected in 2024. They now need to deal with a military coup.

Norb Leahy, Dunwoody GA Tea Party Leader