The Rich Get Richer

July 2008 | Ratings Update

Following two days of meetings at the UN's headquarters in Geneva, Gabon and Equatorial Guinea issued a joint statement saying they have made 'substantial progress' in referring their territorial dispute over the islands of Cocotiers, Congas and Mbagne to the International Court of Justice (ICJ). The uninhabited islands contain oil resources, and in 2003 the two countries mobilised their armed forces over the dispute. However, in July 2004 the two sides signed a memorandum of understanding to jointly extract the oil and refer the case to the ICJ to find a long-run resolution. Gabon and Equatorial Guinea are scheduled to

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