Gabon: Second Review of the Extended Arrangement under the Extended Fund Facility, Request for Waivers of Nonobservance of Performance Criteria and Waivers of Applicability, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Gabon

International Monetary Fund

No 2018/269, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Gabon’s Second Review of the Extended Arrangement Under the Extended Fund Facility, Requests for Waivers of Nonobservance of Performance Criteria and Waivers of Applicability, and Financing Assurances Review. The short-term outlook for Gabon remains challenging. Although a growth rebound in 2018 is expected given good prospects for foreign direct investment and higher oil prices, low non-oil revenue collections and tight short-term liquidity conditions at the Treasury will require decisive implementation of the recently announced fiscal consolidation plan. Timely clearance of domestic arrears is needed to strengthen banks’ balance sheets and increase credit to the private sector to support growth, while clearance of external arrears is crucial to maintain Gabon’s creditworthiness and access to external financing.

Keywords: ISCR; CR; clearance strategy; authority; implementation; reform program; disbursement of SDR; cash flow management; oil revenue; cashflow management; Arrears; Debt service; Fiscal consolidation; Central Africa (search for similar items in EconPapers)
Pages: 101
Date: 2018-09-12
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