DIG/ “Gabon’s debt quantities to 7,140 billion francs for the 12 months 2023 and this represents 56% of GDP. What issues us is just not the quantity of the debt as a result of we’re under Cemac requirements (…).”
The optimism displayed by the Director Common of Debt, Jean-Gaspard Ntoutoume Ayi, supported by the Minister of Economic system and Participations, Mays Mouissi, in the course of the broadcast “The Nice Information” on Gabon Première in March 2024 was solely very short-lived.
Certainly, in keeping with the newest Worldwide Financial Fund (IMF) Article IV report with Gabon printed in Might 2024, Gabon’s debt has actually exploded in 6 months.
It could now signify… 70.5% of GDP and would place Gabon exterior of Cemac requirements.
« Fiscal imbalances have worsened considerably: giant non-oil deficits in 2022-2023 have led to a fast accumulation of arrears. Ils raised the general public debt to round 70½% of GDP, above the ceiling of the Cfor macand weighed on the buildup of reserves », signifies the IMF in its report.
Gabon’s debt ought to definitely exceed 8,000 billion francs in 2024, arousing the fears of the Bretton Woods establishments, an government of which already qualifies Gabon as an over-indebted nation.
For the Fund, the federal government ought to take all vital measures to keep away from worsening budgetary imbalances.
« If not corrected, fiscal imbalances will create short-term liquidity dangers and long-term debt sustainability dangers, probably destabilizing the macroeconomic outlook.
The financial outlook will subsequently rely upon the authorities’ potential to handle these dangers, appropriate the budgetary place and make progress on reforms regarding transparency and diversification. », underlines the Fund.
The two-day keep of the IMF Africa Director in Gabon, Abebe Aemro Selassie, ought to permit the Head of State, Brice-Clotaire Oligui Nguéma to have an exhaustive imaginative and prescient of the present financial actuality of the nation.
(Supply : L’Union)
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2024-06-07 10:03:26