CAIRO, April 30 – Gabon has signed an additional $150 million programme with the World Bank, bringing the lender’s total commitment to $600 million as the country intensifies efforts to stabilise its public finances.
The finance ministry said the agreement forms part of a broader strategy to strengthen fiscal discipline, address debt management challenges, and secure funding for critical infrastructure projects.
As part of these reforms, the government will establish a special commission to conduct a comprehensive audit of public debt. The review will examine borrowing practices between 2016 and 2023, a period marked by fiscal slippages and governance concerns.
Authorities cited several reasons for the audit, including uncompleted projects, failure to transfer funds into state treasury accounts, and breaches of contractual and budgetary rules under the previous administration.
The audit process, expected to last between two and three months, will be coordinated by the finance ministry and supported by the International Monetary Fund.
Gabon, an oil-producing nation, has stepped up engagement with both the IMF and the World Bank in recent months as it seeks to restore macroeconomic stability and rebuild investor confidence.
The government has also formally requested a new IMF programme, signalling its commitment to implementing reforms aimed at improving transparency, strengthening public financial management, and ensuring sustainable debt levels.
Overall, the funding boost and planned audit reflect a broader push by Gabon to address longstanding fiscal weaknesses while laying the groundwork for more stable economic growth.
