The government of Equatorial Guinea has collapsed, the presidency confirmed in a statement this evening. The administration of Prime Minister Francisco Pascual Obama Asue failed to meet the reform targets set by President Teodoro Obiang Nguema Mbasogo in a decree issued three months ago. The president has dissolved the cabinet and declared a state of emergency.
The reforms, which included measures to diversify the economy away from oil, tackle corruption, and improve transparency in public finances, had been a condition for continued International Monetary Fund support. The IMF suspended its $283 million extended fund facility in August after the government missed key benchmarks on fiscal consolidation and governance.
In a televised address, President Obiang, who has ruled the country since 1979, cited "unacceptable stagnation" and a failure to implement necessary changes despite repeated warnings. He has appointed a transitional council led by his son, Vice President Teodoro Nguema Obiang Mangue, to run the country until a new government is formed within 30 days.
The collapse comes amid mounting economic pressure. Equatorial Guinea, once Sub-Saharan Africa's third-largest oil producer, has seen output fall by more than 60 percent since peaking in 2005. The economy contracted by 4.9 percent in 2022, and inflation has eroded purchasing power. The government has struggled to pay salaries and service its debt.
Opposition groups, which have been largely suppressed, have called for a return to constitutional order. The United Nations and the African Union have urged restraint and emphasised the need for an inclusive political process. The European Union, a key development partner, has warned against any extra-constitutional measures.
Analysts say the crisis reflects deep structural problems. Political scientist Dr. Ana Luisa Santos of the University of Oxford notes: "President Obiang has maintained power through a combination of patronage and force. The failure of these reforms indicates the limits of his strategy. The question now is whether the military and the elite will remain loyal to the president or see an opportunity for change."
The state of emergency grants the security forces broad powers, including the authority to detain without trial. Sources in Malabo report increased military presence on the streets and a shutdown of internet services. The airport remains open but with heightened security checks.
International reaction has been cautious. The IMF stated it was monitoring the situation and reiterated its commitment to supporting economic reform when conditions permit. The United States Department of State called for a peaceful resolution and respect for human rights.
The collapse of the government marks the most significant political disruption in Equatorial Guinea in over four decades. How the president navigates the transition will determine not only the country's economic recovery but also its long-term stability.
