Gabon

Gabon: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Gabon

WASHINGTON, 31 May 2024 / PRN Africa / -- Summary:In August 2023, Gabon underwent a major political transition after a coup d’état had overthrown a decades-long regime. Despite multiple reform attempts, years of poorly managed oil wealth, weak inclusion, and stagnant incomes fragilized the political and socio-economic environment in the runup to the coup. The transition authorities now face a historic opportunity to pivot towards a more transparent and inclusive model of governance, but overcoming decades of entrenched institutional practice will require sustained reform efforts to achieve a point of no return. Meanwhile, the Fund-supported EFF program veered off-track soon after the completion of the first two reviews in 2022 and will expire soon.

SOURCE International Monetary Fund (IMF)