Corruption and Its Consequences

Introduction


Equatorial Guinea is one of the wealthier nations in the world, with a per capita gross
domestic product (GDP) greater than those of Italy, South Korea, or Saudi Arabia. Yet
the country’s citizens live in desperate poverty, with over 60% struggling to survive on
less than $1 a day. Despite abundant natural resources – especially oil and gas – and the
billions of dollars these resources bring in, the country is marked by chronic hunger, poor
sanitation, a crumbling education system, disease, and frequent blackouts, among other
problems. This chasm between the country’s wealth and the poverty of its people raises a
basic question: if the money from the sale of Equatorial Guinea’s natural resources is not
going to benefit its citizens, where is that money going?

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