Gabon: 2019 Article IV Consultation, Fourth and Fifth Reviews under the Extended Arrangement under the Extended Fund Facility, and Request for Waiver of Nonobservance of Performance Criteria, and Rephasing of the Remaining Purchases; Press Release; Staff Report; and Statement by the Executive Director
IMF Staff Country Reports, December 23, 2019
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- Gabon: 2019 Article IV Consultation, Fourth and Fifth Reviews under the Extended Arrangement under the Extended Fund Facility, and Request for Waiver of Nonobservance of Performance Criteria, and Rephasing of the Remaining Purchases; Press Release; Staff Report; and Statement by the Executive Director
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Bibliographic details
- Published: December 23, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513524467.002
Summary findings
- The paper presents the 2019 Article IV Consultation with Gabon and its Fourth and Fifth Reviews under the Extended Fund Facility (EFF), including a Request for Waiver for NonObservance of Performance Criteria and a Request for Rephasing of the Remaining Purchases.
- Gabon’s performance under the program supported by the IMF’s EFF Arrangement has been broadly satisfactory.
- Macroeconomic conditions have continued to improve, with growth slowly picking-up, fiscal and external positions improving, and public debt declining.
- Going forward, bold and ambitious reforms are needed to generate higher, more inclusive, and resilient growth.
Macroeconomic performance and priorities
- Growth: described as "slowly picking-up."
- Fiscal position: improving, with continued emphasis on boosting domestic revenue and containing nonpriority spending while protecting investment and enhancing social protection.
- External position: improving.
- Public debt: declining.
- Structural reforms: sustained implementation is critical to realize higher and more inclusive growth.
Structural reform areas highlighted
- Close infrastructure gaps.
- Improve human capital.
- Deepen financial intermediation.
- Clear domestic arrears.
- Enhance governance and anticorruption measures to improve the business climate.
- Improve public financial management and the efficiency of public investment.
Policy recommendations and program adjustments
- Continue efforts to further boost domestic revenue.
- Contain nonpriority spending while protecting investment and enhancing social protection.
- Sustain implementation of structural reforms to achieve higher, inclusive, and resilient growth.
- Improve the business climate through governance and anticorruption measures.
- Clear domestic arrears to strengthen fiscal and financial stability.
- Enhance the efficiency of public investment and public finance management to support growth prospects.
Content in this bundle
- 1gabea2019002