Gabon: First Review Under the Stand-By Arrangement and Requests for Waiver of Nonobservance of Performance Criteria and Modification of a Performance Criterion: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Gabon

January 17, 2008

Preview Citation

Format: Chicago

Gabon: First Review Under the Stand-By Arrangement and Requests for Waiver of Nonobservance of Performance Criteria and Modification of a Performance Criterion: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Gabon, (USA: International Monetary Fund, 2008) accessed September 18, 2024

Also available in: français

Summary

Gabon showed robust economic growth, low inflation, and large fiscal savings from high oil revenue, underpinned by prudent macroeconomic policies and structural reforms under the Stand-By Arrangement (SBA). Executive Directors suggested that stronger fiscal discipline is essential to keep the economy stable. They stressed the need for strengthening public financial management and adjusting fiscal programs to accommodate higher-than-programmed fuel subsidies. They advised that enhancing the investment climate by strengthening governance and increasing transparency, as well as by lifting the temporary price controls, will remove constraints to the growth of non-oil activity.

Subject: Budget planning and preparation, Energy subsidies, Expenditure, Fuel prices, Oil, gas and mining taxes, Prices, Public debt, Public financial management (PFM), Taxes

Keywords: Budget planning and preparation, CR, Energy subsidies, Executive board discussion, Fuel price adjustment formula, Fuel prices, Gabonese government, Gas and mining taxes, GDP, Global, Government, ISCR, Oil, Oil revenue surplus, Outlook, Price, Rating agencies Standard and Poor's

Publication Details

Pages:

56
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2008/024
Stock No:

1GABEA2008001
ISBN:

9781451814033
ISSN:

1934-7685

Notes

Also available in French

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