Chad

Overview

Chad officially known as the Republic of Chad is a landlocked country in central Africa. It is bordered by Libya to the northwest, Sudan to the east, the Central African Republic to the south, Cameroon and Nigeria to the southwest, and Niger to the west. Part of France's African holdings until 1960, Chad endured three decades of civil warfare, as well as invasions by Libya, before a semblance of peace was finally restored in 1990. Due to its distance from the sea and its largely desert climate, the country is sometimes referred to as the "Dead Heart of Africa".

Economy

Oil and agriculture drive Chad’s economy. At least 80% of Chad's population relies for its livelihood on subsistence farming and livestock raising and oil provides the bulk of export revenues. Cotton, cattle, and gum provide the bulk of Chad's non-oil export earnings. Remittances have also been an important source of income and Chad relies on foreign assistance and foreign capital for most public and private sector investment. Oil production came on stream in late 2003 and Chad began to export oil in 2004. Economic growth has been positive in recent years due to high oil prices and strong local harvests, but Chad’s fiscal situation is repeatedly exposed to declining oil prices and drought. Recently, the economy has been strained by the costs of repatriating Chadians fleeing the violence in South Sudan and the Central African Republic. Chad's investment climate remains challenging due to limited infrastructure, a lack of trained workers, extensive government bureaucracy, and corruption.

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