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São Tomé and Príncipe – will it be oil boom or bust?

Africa's smallest nation's looking at an oil bonanza – can it escape the "resource curse"?

Africa's smallest nation is on the brink of an oil bonanza. But will the country fall victim to what economists call the "resource curse" – when countries who look rich because they have discovered oil are ruined by their good fortune and slide into corruption and profligacy?
A new generation of financial institutions and African politicians claim to have learned from past mistakes. Is their optimism justified?

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22 minutes