Gabon: First Review Under the Stand-By Arrangement

IMF Staff Country Reports, January 5, 2005

Source details

The staff report focuses on economic developments and policies under the First Review of a 14-month Stand-By Arrangement (SBA).
Key structural characteristics and vulnerabilities:
- The economy is little diversified and heavily dependent on oil production, which is on a downward trend.
- The debt burden is high.
- Social indicators are weak.
Program objectives:
- Promote non-oil GDP growth through wide-ranging structural reforms.
- Sustain fiscal adjustment.
- Improve public expenditure management.

Findings on the economy:
- Heavy dependence on oil production; oil production is on a downward trend.
- High public debt burden.
- Weak social indicators.
Subject tags in the report: Arrears, Credit, External debt, Money, Oil prices, Prices, Public debt.

Program supported by the 14-month SBA aims:
- Promote non-oil GDP growth via structural reforms.
- Sustain fiscal adjustment.
- Improve public expenditure management.
Policy focus areas highlighted:
- Fiscal adjustment measures.
- Public expenditure management reforms.
- Structural reforms to diversify growth away from oil.

Reported progress:
- Notable structural progress in the forestry sector.
- Progress in the areas of privatization.
- Progress in budgetary management.

Report keywords: Arrears, commitment to the adjustment process, CR, Credit, debt, Gabon's economy, government, implementation of the program, ISCR, oil export revenue, Oil prices, poverty problem, priority investment project, revenue collection, Sub-Saharan Africa.

International Monetary Fund. "Gabon: First Review Under the Stand-By Arrangement", IMF Staff Country Reports 2005, Issue 003.