After Squandering Its Oil Wealth, Chad Faces an Economic Reckoning

Chad’s president, Idriss Deby, at the presidential palace in the capital, N’Djamena, April 20, 2016 (AP photo by Andrew Harnik).
Chad’s president, Idriss Deby, at the presidential palace in the capital, N’Djamena, April 20, 2016 (AP photo by Andrew Harnik).

A recent call for a vote of no confidence in Chad’s government over its management of the country’s oil wealth shows the level of anger among Chadians as they grapple with one of the most serious economic crises in years. Chad, which depends on oil for more than 70 percent of government revenue, has been brought to its knees by the dramatic fall in the world price of a barrel of oil since 2014. Having registered 6.9 percent annual growth in 2014, Chad’s economy is expected to contract by 1.1 percent this year, according to the International Monetary Fund, with […]

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