IMF plans more talks with Gabon in coming weeks

The International Monetary Fund (IMF) has announced it will continue holding technical discussions with Gabon on fiscal and public debt matters in the coming weeks, paving the way for a potential new program. Gabon, an oil-producing nation, has been increasing its engagement with the IMF and the World Bank to improve its public finances and secure funding for essential infrastructure.

Gabon formally requested an IMF program in March, following which it conducted an audit detailing years of public borrowing. The IMF praised this step as crucial for designing its future program. Earlier this month, the government announced that the audit revealed Gabon's total debt burden to be lower than previously estimated, enhancing its prospects of securing the program and the accompanying funding.

The IMF stated that discussions on fiscal and public debt developments, along with the outlook, will continue in the coming weeks, aiming to prepare for program discussions. The mission also touched upon the government's ambitious structural reform agenda to enhance public finance management. According to the draft budget for 2027, Gabon anticipates raising 1.144 trillion CFA francs ($2.00 billion) from international markets in the coming year, with debt service and debt repayments projected to rise significantly.