While offshore oil fields generate hundreds of millions of dollars for Equatorial Guinea, most of the population continues to live on about $1 a day. A recent report by the Los Angeles Times indicates that President Obiang maintains sole control over the $300-500 million of the country’s oil revenues in a US account which allegedly funds his private real estate ventures. The IMF and the WB will withhold assistance from the country until Obiang accounts for the use of oil revenues and transfers them to the treasury.
As India has risen in the World Bank's Ease of Doing Business rankings, it has seen other key development indicators slip.
New IMF gender guidance opportunity for civil society to keep its staff to account.
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