FANDOM


République du Congo
Republic of the Congo

Flag of the Republic of the Congo Coat of Arms of the Republic of the Congo
Motto
Unité, Travail, Progrès
Anthem
La Congolaise
Map of Congo-Brazzaville
RegionCongo
CapitalBrazzaville
Government Republic
President
- From 2011Denis Sassou Nguesso
Legislature Parliament
- Upper houseSenate
- Lower houseNational Assembly
History
August 15, 1960Independence from France
Area342,000 km²
Population
- 20093,686,000
 Density10.7/km²
GDP2009 (PPP)
- TotalUS$ 15.2 billion
- Per capitaUS$ 4,145
CurrencyCFA franc
Flag of France Equatorial Africa
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The Republic of the Congo is a republic in Middle Africa.


Background

Upon independence in 1960, the former French region of Middle Congo became the Republic of the Congo. A quarter century of experimentation with Marxism was abandoned in 1990 and a democratically elected government took office in 1992. A brief civil war in 1997 restored former Marxist President Denis SASSOU-NGUESSO, and ushered in a period of ethnic and political unrest. Southern-based rebel groups agreed to a final peace accord in March 2003, but the calm is tenuous and refugees continue to present a humanitarian crisis. The Republic of Congo was once one of Africa's largest petroleum producers, but with declining production it will need new offshore oil finds to sustain its oil earnings over the long term.[1]

Economy

The economy is a mixture of subsistence agriculture, an industrial sector based largely on oil and support services, and government spending. Oil has supplanted forestry as the mainstay of the economy, providing a major share of government revenues and exports. In the early 1980s, rapidly rising oil revenues enabled the government to finance large-scale development projects with GDP growth averaging 5% annually, one of the highest rates in Africa. Characterized by budget problems and overstaffing, the government has mortgaged a substantial portion of its oil earnings through oil-backed loans that have contributed to a growing debt burden and chronic revenue shortfalls. Economic reform efforts have been undertaken with the support of international organizations, notably the World Bank and the IMF. However, the reform program came to a halt in June 1997 when civil war erupted. Denis SASSOU-NGUESSO, who returned to power when the war ended in October 1997, publicly expressed interest in moving forward on economic reforms and privatization and in renewing cooperation with international financial institutions. Economic progress was badly hurt by slumping oil prices and the resumption of armed conflict in December 1998, which worsened the republic's budget deficit. The current administration presides over an uneasy internal peace and faces difficult economic challenges of stimulating recovery and reducing poverty. The drop in oil prices during the global crisis reduced oil revenue by about 30%, but the subsequent recovery of oil prices has boosted the economy's GDP and near-term prospects. In March 2006, the World Bank and the International Monetary Fund (IMF) approved Heavily Indebted Poor Countries (HIPC) treatment for Congo, receiving $1.9 billion in debt relief under the program in 2010.[2]

President

  • Denis Sassou Nguesso () (January 1, 2011 - )



Nation

Congolese Polities

Congolese Polities

Neighbouring Nations

References

  1. The CIA World Factbook: Introduction - Background
  2. The CIA World Factbook: Economy - Overview