IMF Staff Country Reports

Gabon : First Review of the Extended Arrangement under the Extended Fund Facility, Requests for a Waiver for Nonobservance of Performance Criterion, and Modifications of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Gabon

Author/Editor:

International Monetary Fund. African Dept.

Publication Date:

December 28, 2017

Electronic Access:

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Summary:

Economic activity remains subdued. Budget execution has taken place in difficult conditions given recent shortfalls in non-oil revenues and delays in domestic and external financing. Growth is expected to rebound in 2018 due to better prospects in the oil sector, investment in new growth pillars (agribusiness) and a gradual improvement in confidence as the government reduces its domestic arrears. The fiscal and external current account balances are improving thanks to strong export growth and a decline in public spending. Program implementation has been broadly satisfactory, with most end-June performance criteria and structural benchmarks met, but substantial risks remain. New external arrears were accumulated.

Series:

Country Report No. 17/408

Subject:

Banking sector Economic policy Extended arrangement reviews Extended Fund Facility Fiscal consolidation Fiscal reforms Fiscal sustainability Gabon Performance criteria modifications Performance criteria waivers Press releases Private sector Staff reports Statistics