In Gabon, a delegation from the International Monetary Fund (IMF) has just completed a visit to assess the Gabonese economy. This visit, which took place from January 24 to February 6, comes five months after the coup d’état which overthrew the Ali Bongo regime. IMF experts analyzed various documents and met with representatives of the government, the private sector and civil society. Although progress has been made, deficits persist and require special attention.
During this visit, IMF experts had the opportunity to meet Prime Minister Raymond Ndong Sima as well as the President of the Transition Brice Clotaire Oligui Nguéma. According to Facinet Sylla, IMF Administrator, “a lot of progress has been made in a few months, particularly with regard to revenue mobilization, inflation control and data transparency.” However, the IMF remains concerned about the deficits observed, mainly due to the numerous social demands that require significant spending.
Gabon’s financial situation in 2023 was vulnerable, with governance gaps. This results in high poverty rates, limited access to basic services and high youth unemployment. The IMF therefore recommends continuing reforms, resolving the debt and ensuring a balanced budget.
It is important to emphasize that this IMF visit does not automatically lead to a financial disbursement or sanctions for Gabon. The decision to conclude a new program with the IMF now rests with the Gabonese authorities.
In conclusion, this IMF visit to Gabon highlights the progress made so far, but also highlights the persistent challenges facing the country. The pursuit of economic reforms and rigorous management of public finances will be essential to ensure Gabon’s economic and social stability.
Sources:
– “Beginning of the visit of an IMF delegation to Gabon”, RFI, January 24, 2024.
– “Gabon: the IMF favorable for a program”, Gabonactu, February 7, 2024.