Troubled Waters Under the Bridge: Time for Inclusive Growth in Equatorial Guinea

Guest blog by Cesar Augusto Mba Abogo

This is a blog series written by the alumni of the Leading Economic Growth Executive Education Program at the Harvard Kennedy School. 65 Participants successfully completed this 10-week online course in May 2021. These are their learning journey stories.

Equatorial Guinea (EG) is a little known country. In fact, Wikipedia in its entry on the country warns not to confuse it with Guinea Conakry and Guinea Bissau. In the period between the month of April 2019 and the month of October 2020, I had the honor of serving as Minister of Finance, Economy and Planning in probably the darkest economic downturn the country has known since the mid-nineties of the twentieth century when it became a producer and exporter of hydrocarbons. At the end of 2019, the country was beginning to emerge from the recession into which it had fallen in mid-2014, we had closed a comprehensive agreement with the IMF that included the traditional macrofiscal stabilization component but also a commitment to strengthen fiscal governance, fight corruption, allocate greater resources to social sectors, stabilize the banking sector and boost diversification of sources of economic growth… and then the health and financial pandemic of COVID19 crashed down on Equatorial Guinea.

But before I go into detail about the most relevant learnings, in my humble opinion, of HKS´s Leading Economic Growth course and how it has changed my understanding of the challenge of inclusive growth facing my country, let’s talk a little about this my unknown country.

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