The International Monetary Fund (IMF) says it will continue technical discussions with Gabon on fiscal and public debt developments that could pave the way for a new financial programme.
The IMF made this known on Saturday following a visit to the oil-producing Central African country, which has stepped up engagement with the Fund and the World Bank as it seeks to strengthen public finances and secure funding for infrastructure.
“Technical discussions on fiscal and public debt developments, along with the outlook, will continue in the coming weeks, with a view to paving the way for programme discussions,” the IMF said in a statement.
The discussions also covered Gabon’s structural reform agenda, particularly measures to improve the management of public finances.
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Gabon formally requested an IMF programme in March. In April, the government announced plans to audit the country’s public debt, a move the IMF described as an important step towards designing a future programme.
The government said earlier this month that the audit found its total debt burden was lower than previously estimated, potentially improving the country’s prospects of securing the programme and additional funding.
Meanwhile, Gabon’s draft 2027 budget projects that the government will raise 1.144 trillion CFA francs, about $2 billion, from international markets next year.
The country is also expecting a sharp increase in debt servicing and repayments.
