Gabon Seeks IMF Support for Financial Stabilization. Libreville, Gabon — Gabon has formally requested an arrangement with the International Monetary Fund (IMF) in a bid to stabilize its finances, IMF officials revealed on Wednesday. This move follows an IMF team’s recent visit to the Central African country.
According to IMF officials, the Fund has encouraged the Gabonese government, led by Libreville, to continue with reforms aimed at enhancing public financial management, governance, and the business climate, as well as combating corruption.
The request comes after a 2021 agreement for an extended credit facility was suspended due to issues with its implementation. Efforts to resume discussions on the loan last year were halted by Gabon, which expressed its desire to explore a different approach.
However, the country returned to the negotiating table in January, announcing its intention to implement a new economic growth program with the IMF’s backing.
A loan from the IMF could provide much — needed stability to Gabon’s finances, which have been strained in recent years.
However, there are concerns regarding the transparency of the country’s debt and the government’s commitment to implementing necessary reforms.
The Gabonese government has not yet commented on the specifics of the new arrangement or the expected timeline for its implementation. Further details are expected to be released in the coming days.
