Gabon Expands World Bank Support as It Launches Debt Audit and Seeks IMF Programme

Mintesinot Niggusie

Gabon has formally requested a new International Monetary Fund programme as it moves to deepen economic reforms aimed at improving transparency, strengthening public financial management and sustaining debt levels.

The request comes alongside a broader restructuring drive that includes the creation of a special commission tasked with conducting a comprehensive audit of public debt accumulated between 2016 and 2023. The review will be coordinated by the finance ministry with support from the International Monetary Fund and is expected to run for two to three months.

Authorities said the audit will focus on governance and execution gaps in public borrowing, including uncompleted projects, failures to transfer funds into state treasury accounts and breaches of contractual and budgetary rules under the previous administration.

In a parallel financing arrangement, Gabon secured an additional 150 million US dollars programme from the World Bank, increasing the lender’s total commitment to 600 million US dollars. The finance ministry said the funding is intended to reinforce fiscal discipline, support debt management efforts and help finance key infrastructure projects.

The oil-producing country has increased engagement with both the International Monetary Fund and the World Bank in recent months as it seeks to restore macroeconomic stability and rebuild investor confidence.