IMF team to visit Gabon as authorities plan reform program

A delegation from the International Monetary Fund (IMF) is expected in Libreville next month, as the central African country seeks the multilateral lender’s help to implement a reform program.

Gabon has made no formal request for a loan from the Fund, however.

Finance minister Thierry Minko told Reuters this week that ‘technical and institutional discussions with the IMF had intensified’.

An IMF spokesperson said the staff visit in February would assess Gabon’s macroeconomic and fiscal developments, and discuss policy and reform plans with the authorities.

Gabon’s debt has risen in recnt years, hitting 80% of the country’s GDP with fears that the actual figure could be higher.

The oil producer has battled a current account deficit since crude prices collapsed a decade ago.

It has since turned mostly to regional debt markets to plug a budget deficit, while implementing an ambitious diversification program to reduce dependency on oil.