📷 Image Credits: International Monetary Fund
An International Monetary Fund (IMF) team, led by Ms. Aliona Cebotari, recently concluded a visit to Gabon as part of the 2024 Article IV consultation. The consultation focused on addressing the economic challenges faced by Gabon and developing a strategy for sustainable growth. During the visit, discussions centered around the need to strengthen transparency, improve governance, revitalize economic growth, and stabilize the budgetary position in Gabon. The IMF team highlighted the importance of accelerating structural reforms and fostering transparency to enhance fiscal sustainability and overall economic stability. The economy of Gabon has been recovering from various shocks originating from the global and domestic economy. With growth expected to settle around 3 percent in 2024-25 and inflation remaining below the regional ceiling of 3 percent, the focus now shifts towards implementing policies that can correct fiscal imbalances and reduce debt levels. The IMF team commended the initial steps taken by Gabonese authorities towards greater transparency and strengthened public financial management. However, they stressed the need for more decisive action to ensure a sustainable fiscal position, promote transparency, and stimulate growth. The team emphasized that sustained growth and improved living standards in Gabon will depend heavily on the implementation of necessary reforms. Efforts to diversify the economy, prioritize infrastructure spending, enhance governance, and address fiscal challenges will be key in driving economic progress in the country. The mission expressed gratitude to the Gabonese authorities and partners for their cooperation and engagement during the consultation, acknowledging the importance of open and fruitful discussions in charting a path towards economic resilience and development.
