The Riddle of the Sphynx: where has Congo's oil money gone?
Article from: OGEL 1 (2006), in Good Governance
In a world of ever-increasing energy demand, West Africa is growing in importance as a supplier of oil to the global market. The rising significance of West African oil and gas-producing states has led, in turn, to growing international concern about the effect of corrupt or poor management of oil revenues on the region's stability and prosperity and on the well being of its people. The Republic of Congo (ROC) provides an example of the way mismanagement of oil wealth not only fails to make countries richer, but can entrench corruption and instability. Despite ...