AGP Executive Report
Last update: 7 hours agoCEMAC Currency: Old CFA franc coins from the 1958–1985 series lost legal tender status across Equatorial Guinea and five other CEMAC states on November 1. Holders can exchange them at banks, microfinance institutions or the BEAC until July 31, 2027; the central bank will handle exchanges through October. Russia Ties: In Moscow, President Teodoro Obiang met Vladimir Putin, who described relations as friendly but said trade had declined and lagged behind their potential. Putin pointed to energy and mining investment and said a planned intergovernmental commission could help expand cooperation. Legal Dispute: A U.S. judge reaffirmed an $8.2 million arbitral award against Equatorial Guinea over a failed hospital operating contract, finding the contract did not require the dispute to be heard first in local courts. Deportation Case: Another U.S. judge ruled that Ahmed Mahmoud Soliman’s deportation to Equatorial Guinea was unlawful and ordered officials to take steps to return him. The court warned the administration to provide daily updates as his temporary entry permission nears expiry. Energy Investment: Chevron has named Equatorial Guinea among its targets for expanded frontier exploration, as it raises spending to seek new oil and gas reserves.
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