Gabon : Second Review of the Extended Arrangement under the Extended Fund Facility, Request for Waivers of Nonobservance of Performance Criteria and Waivers of Applicability, 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:

September 12, 2018

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

While external buffers are being rebuilt, the CEMAC’s recovery remains fragile. In Gabon, macroeconomic conditions are slowly improving. Activity is stabilizing, with 2017 growth revised to 0.5 percent—a slowdown broadly in line with trends envisaged at the time of the program request a year ago. Oil and mining exports helped narrow the 2017 current account deficit. The overall fiscal deficit (cash basis) declined by 3¼ percent of GDP, but the adjustment relied on large cuts in public investment. Weak program implementation contributed to the underperformance of non-oil revenues and overruns on current spending. Fiscal slippages aggravated already significant cashflow pressures, contributing to the authorities’ failure to clear all external arrears at end 2017. The authorities recently announced a strong package of fiscal consolidation measures.

Series:

Country Report No. 18/269

English

Publication Date:

September 12, 2018

ISBN/ISSN:

9781484375648/1934-7685

Stock No:

1GABEA2018001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

101

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