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Equatorial Guinea Adeptly Navigates COVID-19 Recovery (By Grace Goodrich)
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Grace Goodrich, Field Editor
In the face of a global pandemic, Equatorial Guinea has been uniquely able to advance a large-scale gas megaproject and make substantive improvements to its foreign relations and domestic regulatory framework. Now, the country is prioritizing economic diversification via industrialization and downstream industry to drive a post-COVID-19 recovery.
For the past eighteen months, Equatorial Guinea has been weathering a storm. With the onset of Coronavirus and subsequent drop in crude oil prices, sub-Saharan Africa’s small but mighty oil producer was hit with dual economic shocks that exacerbated existing negative growth. In August 2020, the government and prime minister of Equatorial Guinea tendered their resignations due to the inability to achieve economic stability in the wake of the pandemic, then were reappointed by H.E. President Teodo