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Pandemic and explosions worsen Equatorial Guinea prospects, IMF says - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Equatorial Guinea’s ailing economy has been dented by the pandemic and a series of deadly dynamite explosions in 2021 despite government efforts to mitigate the impact of these shocks on the oil-producing nation, the IMF said on Friday.

FILE PHOTO: Drone footage shows damaged buildings after explosions in Bata, Equatorial Guinea, in this screengrab taken from a video from March 9, 2021. ASONGA TV/via REUTERS TVFILE PHOTO: Drone footage shows damaged buildings after explosions in Bata, Equatorial Guinea, in this screengrab taken from a video from March 9, 2021. ASONGA TV/via REUTERS TV

It took another hit in March 2021, when the negligent handling of dynamite stored at an army base caused a series of explosions in the coastal city of Bata, killing over 100 and injuring hundreds more. Although real GDP is projected to grow by around 6 percent in 2022 due to the base affects of lower-than-expected gas production the previous year, and the start of reconstruction in Bata, longer-term prospects remain bleak.

 

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