IMF plans more talks with Gabon in coming weeks

The International ​Monetary Fund will continue to hold ​technical discussions with Gabon ‌on fiscal ​and public debt developments that could pave the way for a new programme, the Fund said ‌on Saturday.

The oil-producing nation has stepped up engagement with the IMF and the World Bank as it seeks to tighten public finances and secure fresh funding ‌for basic infrastructure. Gabon formally requested an IMF programme in March. A ‌month later, it said it would conduct an audit detailing years of public borrowing, which the IMF called an important step to underpin the design of the future programme.

The government ⁠said ​earlier this month ⁠that the audit found its total debt burden was lower than previously thought, improving Gabon's ⁠chances of securing the programme and the much-needed funding that comes with it. "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 program discussions," the ⁠IMF ​said in a statement after its visit.

"The mission also discussed the authorities' ambitious structural reform agenda to improve the management of public finances." According ⁠to the draft budget for 2027, Gabon's government expects to raise 1.144 trillion ⁠CFA francs ($2.00 ⁠billion) from international markets next year, with debt service and debt repayments rising sharply.

($1 = 572.7500 CFA francs)