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To get IMF bailout, Equatorial Guinea's ruler must reveal assets | Business and Economy News


Equatorial Guinea President Teodoro Obiang Nguema Mbasogo, the world’s longest-serving ruler, should declare his assets before the nation receives more financial support, according to the International Monetary Fund.
The central African country needs an IMF bailout to deal with a crisis that shrank its economy by a third to $13 billion last year. Under a program agreed to last week, the state will be required to increase transparency, improve governance and implement reforms to fight corruption, Lisandro Abrego, the lender’s mission chief for Equatorial Guinea, said in an interview.
“Authorities will implement an asset-declaration regime for senior public officials as part of the program’s requirements,” he said by phone from Washington. “It’s our understanding that the law will apply to all senior government officials.” ....

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