The Republic of Equatorial Guinea (formerly Spanish Guinea) consists of Rio Muni, located on the coast of west-central Africa between Cameroon and Gabon, and the offshore islands of Fernando Po, Annobon, Corisco, Elobey Grande, and Elobey Chico. The equatorial country has an area of 10,831 sq. mi. (28,051 sq. km.) and a population of 452,000. Capital: Malabo. The economy is based on agriculture and forestry. Cacao, wood, and coffee are exported. ,Fernando Po was discovered between 1474 and 1496 by Portuguese navigators charting a route to the spice islands of the Far East. Portugal retained control of it and the adjacent islands until 1778 when they, together with trading rights to the African coast between the Ogooue and British from 1827 to 1844 when it was reclaimed by Spain. Mainland Rio Muni was granted to Spain by the Berlin Conference of 1885. The name of the colony was changed from Spanish Guinea to Equatorial Guinea in December of 1963. Independence was attained on October 12, 1968.,, ,Additional listings can be found under central African States.,, Monetary System:,,, ,1 Peseta Guineana = 100 Centimos to 1975,, ,1 Ekuele = 100 Centimos, 1975-80,, ,1 Epkwele (pl. Bipkwele) = 100 Centimos, 1980-85,, ,1 Franc (C.F.A.) = 100 Centimes, 1985-,, ,1 Franco (C.F.A.) = 4 Bipkwele,,