Gabon: 2010 Article IV Consultation—Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Gabon
IMF Staff Country Reports, May 4, 2011
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- Canonical URL
- Gabon: 2010 Article IV Consultation—Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Gabon
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Bibliographic details
- Published: May 4, 2011
- Series: IMF Staff Country Reports
Macroeconomic context and recent performance
- Oil production over the last 40 years has transformed Gabon into a middle-income country.
- Gabon is recovering from the global financial crisis.
- Non-commodity sectors are described as stagnant.
- Downside risks to the recovery: commodity prices and possible slippages in policy implementation.
Distributional and structural challenges
- Income inequality is high.
- Medium-term challenge: declining oil production implies the need to bolster non-oil competitiveness and sustainability.
Fiscal stance and recommendations
- The fiscal stance has important implications for domestic stability.
- Medium-term fiscal consolidation is identified as vital to ensuring fiscal sustainability and external competitiveness as oil production dwindles over time.
- Authorities have embarked on major reforms of public financial management (PFM).
Policy focus areas highlighted
- Public financial management (PFM) reforms.
- Capital spending and public investment, including public investment and public-private partnerships (PPP).
- Managing fiscal policy to balance short-term recovery with medium-term consolidation needs.
Content in this bundle
- _cr1197 — Executive Summary
- Principaux indicateurs économiques, 2008–15