Gabon: First Review Under the Stand-By Arrangement

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 003

Publication date: January 2005

ISBN: 9781451813944

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , poverty problem , implementation of the program , debt , government , Gabon's economy , priority investment project , commitment to the adjustment process , revenue collection , oil export revenue , Oil prices , Arrears , Credit , Sub-Saharan Africa

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Summary

The staff report for the First Review Under the Stand-By Arrangement (SBA) on Gabon focuses on economic developments and policies. The economy is little diversified and heavily dependent on oil production, which is on a downward trend; the debt burden is high; and social indicators are weak. The program supported by the 14-month SBA aims at promoting non-oil GDP growth through wide-ranging structural reforms, while sustaining fiscal adjustment and improving public expenditure management. Progress has been made on the structural front, notably in the forestry sector and in the areas of privatization and budgetary management.