ratic Party or
PSD [Pierre Claver MAGANGA-MOUSSAVOU]; Union for Democracy and
Social Integration or UDIS; Union of Gabonese Patriots or UPG
[Pierre MAMBOUNDOU]

Political pressure groups and leaders:

NA

International organization participation:

ACCT, ACP, AfDB, AU, BDEAC, CEMAC, FAO, FZ, G-24, G-77, IAEA, IBRD,
ICAO, ICCt, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO,
Interpol, IOC, IOM, IPU, ISO (correspondent), ITSO, ITU, ITUC, MIGA,
MINURCAT, NAM, OIC, OIF, OPCW, UN, UNAMID, UNCTAD, UNESCO, UNIDO,
UNMIS, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO

Diplomatic representation in the US:

chief of mission: Ambassador Carlos BOUNGOU
chancery: Suite 200, 2034 20th Street NW, Washington, DC 20009
telephone: [1] (202) 797-1000
FAX: [1] (202) 332-0668
consulate(s): New York

Diplomatic representation from the US:

chief of mission: Ambassador Eunice S. REDDICK
embassy: Boulevard du Bord de Mer, Libreville
mailing address: Centre Ville, B. P. 4000, Libreville; pouch:2270
Libreville Place, Washington, DC 20521-2270
telephone: [241] 76 20 03 through 76 20 04, after hours - 07380171
FAX: [241] 74 55 07

Flag description:

three equal horizontal bands of green (top), yellow, and blue

Economy
Gabon

Economy - overview:

Gabon enjoys a per capita income four times that of most of
sub-Saharan African nations. but because of high income inequality,
a large proportion of the population remains poor. Gabon depended on
timber and manganese until oil was discovered offshore in the early
1970s. The oil sector now accounts for 50% of GDP. Gabon continues
to face fluctuating prices for its oil, timber, and manganese
exports. Despite the abundance of natural wealth, poor fiscal
management hobbles the economy. The devaluation of the CFA franc -
its currency - by 50% in January 1994 sparked a one-time
inflationary surge, to 35%; the rate dropped to 6% in 1996. The IMF
provided a one-year standby arrangement in 1994-95, a three-year
Enhanced Financing Facility (EFF) at near commercial rates beginning
in late 1995, and stand-by credit of $119 million in October 2000.
Those agreements mandated progress in privatization and fiscal
discipline. France provided additional financial support in January
1997 after Gabon met IMF targets for mid-1996. In 1997, an IMF
mission to Gabon criticized the government for overspending on
off-budget items, overborrowing from the central bank, and slipping
on