Gabon Tenders


Capital Libreville
ISO 3166 Code GA
Population 1,751,000
Area, Sq KM 267,667
Currency CFA franc
Official Language French
GDP, Billion USD 18,661
GDP Growth Rate, % 5.1
Inflation, Avg CP, % Chng 2.95
Interest Rates, % N/A
Unemployement Rate, % N/A
Exchange Rate, 1 USD Equals 578.04
International dial code 241
Time Zone GMT+01:00
Internet TLD .ga

Gabon is officially known as the Gabonese Republic. It is a sovereign state situated on the west coast of Central Africa. The country shares its borders with Equatorial Guinea on the northwest, the Republic of the Congo on the south and east, Cameroon to the north, and the Gulf of Guinea on the west. Total area covered by the country is estimated to be approximately 270,000 square kilometers and the population of the country was recorded to be 1.5 million people. Libreville is the capital of Gabon and is also the largest city of the country. Gabon acquired its independence from France in the year 1960. The country has had three presidents. Gabon introduced a multi-party system in the early 1990’s along with a new democratic constitution which reformed many governmental institutions as well as allowed a more transparent electoral process. For 2010-2011 term, Gabon was also a non-permanent member of the United Nations Security Council. Gabon has fourth highest Human Development Index and ranked third highest in GDP per capita in terms of PPP in the Sub-Saharan Africa region. The country is one of the most prosperous countries in the Sub-Saharan Africa as well. The economy of the country is dominated by oil. Oil revenues of this country constitute approximately around 46% of the overall government's budget, 81 percent of the exports and 43% of gross domestic product. In spite of the decreasing oil revenues of the country, the country is all set to plan for an after-oil scenario. Sadly, the years of significant oil revenues were not spent efficiently. Due to the lack of management of the revenues and debts of the country, it has earned a poor reputation with the International Monetary Fund and the Paris Club. Successive IMF missions have criticized The government of the country has been criticized by the successive International Monetary Fund for over-borrowing from the Central Bank, overspending on off-budget items in bad years as well as good years and slipping on the schedule for administrative reform and privatization. Gabon could not meet the economic goals because of the social developments that have surrounded the death of President Omar Bongo along with the financial crisis it faced in the year 2009. However, the oil revenues have started giving the country a strong per capita GDP at $8,600 US dollars which is considered extremely high for the region. However the inequality in income and social standards is pretty common.

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