Gabon asks IMF for new arrangement in a bid to stabilise finances

Gabon has formally requested an arrangement with the International Monetary Fund, IMF officials told Reuters on Wednesday.

The news comes just days after an IMF team concluded a visit to the Central African country.

The Fund has urged Libreville to continue with reforms aimed at improving public financial management, governance, and the business climate, as well as the fight against corruption.

A 2021 agreement for an extended credit facility was suspended due problems with implementation. Efforts to resume discussions last year were ended by Gabon, which said it wanted to try a different approach.

But Libreville came back to the table in January, announcing that it would implement a new economic growth programme with the Fund's support.

A loan could help stabilise the OPEC-member's finances but there are concerns about debt transparency and the government's willingness to push through needed reforms.

The IMF said discussions are ongoing.