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
IMF Staff Country Reports, September 12, 2018
Source details
- Canonical URL
- 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
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Bibliographic details
- Published: September 12, 2018
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484375648.002
Short-term outlook and growth prospects
- The short-term outlook for Gabon remains challenging.
- A growth rebound in 2018 is expected given:
- good prospects for foreign direct investment, and
- higher oil prices.
- Constraints to the rebound include:
- low non-oil revenue collections, and
- tight short-term liquidity conditions at the Treasury.
Fiscal consolidation and policy implementation
- Decisive implementation of the recently announced fiscal consolidation plan is required to address liquidity and revenue shortfalls.
- Policy focus areas implied by the report:
- strengthen revenue administration to raise non-oil revenue collections,
- implement cash flow management measures to ease Treasury liquidity pressures, and
- ensure timely program implementation to restore fiscal stability.
Arrears, banking sector, and external financing
- Timely clearance of domestic arrears is needed to:
- strengthen banks’ balance sheets, and
- increase credit to the private sector to support growth.
- Clearance of external arrears is crucial to:
- maintain Gabon’s creditworthiness, and
- preserve access to external financing.
Subject tags and keywords (as listed)
- Subjects: Arrears, Debt rescheduling, Debt service, External debt, Fiscal consolidation, Fiscal policy, Public debt, Revenue administration
- Keywords: Arrears, authority, cash flow management, cashflow management, Central Africa, clearance strategy, CR, Debt service, disbursement of SDR, Fiscal consolidation, implementation, ISCR, oil revenue, reform program
Content in this bundle
- Country Report