An Introduction to Gabon
The earliest inhabitants of what is now Gabon were pygmies, who were eventually replaced by the Bantu people as they migrated. The name 'Gabon' comes from the Portuguese word 'Gabão' - a cloak, after the shape of the estuary of the Komo River. In 1885 France colonised Gabon, which was one of the four territories of French Equatorial Africa from 1910 until 1959. See full country profile.Latest Research News from Africa
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GOVERNMENT: Republic; multiparty presidential regime
AREA: 267,667 sq km
POPULATION: 1,576,665 (July 2011 est)
MAJOR LANGUAGE: French
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The earliest inhabitants of what is now Gabon were pygmies, who were eventually replaced by the Bantu people as they migrated. The name 'Gabon' comes from the Portuguese word 'Gabão' - a cloak, after the shape of the estuary of the Komo River. In 1885 France colonised Gabon, which was one of the four territories of French Equatorial Africa from 1910 until 1959.
Since independence in 1960 there have been a number of coups, some of them suppressed by soldiers from France, which has industrial interests in the region including logging.Currently a non-permanent member of the UN Security Council, Gabon is one of the most prosperous countries in Sub-Saharan Africa, with the highest HDI in the region, thanks to its small population density, abundant natural resources and foreign private investment.
GDP: $22.48 billion (2010 est.) - $14,500 per capita (PPP 2010 est)
Religions Christian 55%-75%, animist, Muslim less than 1%
Currency: Central African Franc (XAF) - GBP 1 = XAF 746.25
Telephone Code: +241
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Gabon has no MR association. If you know differently, please get in touch! chris@mrweb.comEven though Gabon has a per capita income that is a lot higher than most sub-Saharan African nations, it has a high income inequality meaning that a large proportion of the population remains in poverty. Oil was discovered offshore in the early 1970s, and until now has represented well over 50% of GDP - however, production is slowing and some estimates suggest that Gabon could run out of oil as soon as 2025.
Despite the abundance of natural wealth, poor fiscal management shackles the economy. In 1997, an IMF mission to Gabon criticized the government for overspending on off-budget items, over-borrowing from the central bank, and slipping on its schedule for privatisation and administrative reform. The rebound of oil prices from 1999 to 2008 helped growth, but drops in production have hampered Gabon from fully realising potential gains. Gabon signed a 14-mo'th Stand-By Arrangement with the IMF in May 2007, and later that year issued a $1 billion sovereign bond to buy back a sizable portion of its international debt.
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