IMF ties Equatorial Guinea loan to scrutiny of its leaders
President and his big-spending son will have to disclose their assets
27 December 2019 - 15:00
Equatorial Guinean 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 IMF.
The Central African nation needs an IMF bailout to deal with a crisis that shrank its economy by a third to $13bn in 2018. Under a programme 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...
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