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Author: International Monetary Fund. African Dept. Publisher: International Monetary Fund ISBN: 1513524518 Category : Business & Economics Languages : en Pages : 123
Book Description
This paper presents 2019 Article IV Consultation with Gabon and its Fourth and Fifth Reviews Under the Extended Fund Facility (EFF), and Request for Waiver for NonObservance of Performance Criteria, and Rephasing of the Remaining Purchases. Gabon’s performance under the program supported by the IMF’s EFF Arrangement has been broadly satisfactory. Macroeconomic conditions have continued to improve, with growth slowly picking-up, fiscal and external positions improving, and public debt declining. Going forward, bold and ambitious reforms are needed to generate higher, more inclusive, and resilient growth. Sustained implementation of structural reforms is critical. Efforts to close infrastructure gaps, improve human capital, deepen financial intermediation, clear domestic arrears, and enhance governance and anticorruption measures are necessary to improve the business climate and achieve higher and inclusive growth. Efforts should continue to further boost domestic revenue and contain nonpriority spending, while protecting investment and enhancing social protection. Improving public finance management and the efficiency of public investment is also important for growth prospects.
Author: International Monetary Fund. African Dept. Publisher: International Monetary Fund ISBN: 1513524518 Category : Business & Economics Languages : en Pages : 123
Book Description
This paper presents 2019 Article IV Consultation with Gabon and its Fourth and Fifth Reviews Under the Extended Fund Facility (EFF), and Request for Waiver for NonObservance of Performance Criteria, and Rephasing of the Remaining Purchases. Gabon’s performance under the program supported by the IMF’s EFF Arrangement has been broadly satisfactory. Macroeconomic conditions have continued to improve, with growth slowly picking-up, fiscal and external positions improving, and public debt declining. Going forward, bold and ambitious reforms are needed to generate higher, more inclusive, and resilient growth. Sustained implementation of structural reforms is critical. Efforts to close infrastructure gaps, improve human capital, deepen financial intermediation, clear domestic arrears, and enhance governance and anticorruption measures are necessary to improve the business climate and achieve higher and inclusive growth. Efforts should continue to further boost domestic revenue and contain nonpriority spending, while protecting investment and enhancing social protection. Improving public finance management and the efficiency of public investment is also important for growth prospects.
Author: International Monetary Fund. African Dept. Publisher: International Monetary Fund ISBN: 149830916X Category : Business & Economics Languages : en Pages : 72
Book Description
This 2014 Article IV Consultation highlights that Gabon’s growth performance has recently been strong, but fiscal pressures have increased significantly. Real GDP growth has averaged about 6 percent in the last four years on the back of substantial scaling-up of capital spending as the authorities implement their strategy Plan Stratégique Gabon Emergent to promote economic diversification and growth inclusiveness. The medium-term growth outlook has weakened as a result of the sharp decline in oil prices, but is expected to remain relatively strong. Growth is expected to be driven by a number of projects under way in agro-industry, mining, and wood processing.
Author: International Monetary Fund. African Dept. Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 80
Book Description
In August 2023, Gabon underwent a major political transition after a coup d’état had overthrown a decades-long regime. Despite multiple reform attempts, years of poorly managed oil wealth, weak inclusion, and stagnant incomes fragilized the political and socio-economic environment in the runup to the coup. The transition authorities now face a historic opportunity to pivot towards a more transparent and inclusive model of governance, but overcoming decades of entrenched institutional practice will require sustained reform efforts to achieve a point of no return. Meanwhile, the Fund-supported EFF program veered off-track soon after the completion of the first two reviews in 2022 and will expire soon.
Author: International Monetary Fund. African Dept. Publisher: International Monetary Fund ISBN: 148430084X Category : Business & Economics Languages : en Pages : 68
Book Description
This paper discusses challenges, outlook, and risks of Gabon’s economy. Gabon’s economy is facing mounting headwinds. Economic activity benefited from a one-off boost in oil production in 2015, due to the introduction of new oil fields and productivity improvements, which are expected to help maintain overall growth about 4 percent in 2015. However, the slowdown in non-oil economy activity continued, led by construction, transport, commerce, and services. The main downside risk to the outlook remains weak fiscal adjustment to sharply lower oil prices. In the event of weaker-than-projected performance on oil revenues or government spending, government would be forced to substantially draw down on its deposit buffer and/or significantly increase borrowing.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 145181397X Category : Business & Economics Languages : en Pages : 94
Book Description
The staff report for the combined consultation and 2005 Article IV Consultation on Gabon highlights economic developments and policies. Preparing Gabon for the post-oil era requires strengthening the efficiency of the public sector and providing a framework for private sector development to raise the productivity of the Gabonese economy. In the public sector, improving expenditure management, especially of public investment, is essential. Gabon remains keen to seek a multiyear follow-up program after the expiration of the Stand-By Arrangement.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1451814003 Category : Business & Economics Languages : en Pages : 66
Book Description
Gabon continues to enjoy record high oil prices, buoying both exports and government revenues. The critical medium-term challenge facing Gabon is managing the transition from an economy highly dependent on oil to a diversified economy that harnesses private sector initiative, and makes decisive progress in poverty reduction. The fiscal policy stance requires significant tightening. Raising economic growth and reducing poverty necessitate the acceleration of the structural reform agenda. Fostering transparency is a key ingredient to strengthening governance and accountability in Gabon.
Author: International Monetary Fund. African Dept.
Author: International Monetary Fund. African Dept.
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Author: International Monetary Fund. African Dept.
Author: International Monetary Fund. African Dept.
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Author: International Monetary Fund
Author: Jean A. P. Clément
Author: International Monetary Fund. African Dept.
Author: International Monetary Fund
Author: International Monetary Fund