Download or read book Gabon written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2019-12-23 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Gabon written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2024-05-31 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Gabon written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2015-02-25 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Gabon Staff Report for the Article IV Consultation written by and published by . This book was released on 2005 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Gabon written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2016-03-18 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Gabon 2001 Article IV Consultation written by International Monetary Fund and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Gabon written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-05-04 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Gabon written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-06-23 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Gabon written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-05-04 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil production over the last 40 years has transformed Gabon into a middle-income country; but income inequality is high, and non-commodity sectors are stagnant. Gabon is recovering from the global financial crisis. The recovery to be sustained, with downside risks from commodity prices and possible slippages in policy implementation. The fiscal stance has important implications for domestic stability. Medium-term fiscal consolidation is vital to ensuring fiscal sustainability and external competitiveness as oil production dwindles over time. The authorities have embarked on major reforms of public financial management (PFM).
Download or read book Gabon written by International Monetary Fund and published by International Monetary Fund. This book was released on 1996-01-02 with total page 131 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides background material to the IMF staff report for the 1995 Article IV Consultation with Gabon. It provides an overview of Gabon’s economic and financial performance since independence, highlighting the five distinct phases and the economic strategies pursued by the authorities. The paper presents an overview of developments in the oil sector, and analyzes the structure of the balance of payments. The paper also reviews the public enterprise sector and its financial performance.
Download or read book GABON Staff Report for the 2001 Article IV Consultation written by International Monetary Fund and published by International Monetary Fund. This book was released on 2002-05-03 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2001 Article IV Consultation highlights that the fiscal and structural reform efforts in Gabon continued during 2001 under the government’s program supported by an 18-month Stand-by Arrangement, approved on October 23, 2000. Non-oil economic activity in Gabon rose by 4 percent in 2001, following a severe contraction in 1999 and a moderate recovery in 2000. Private investment picked up as confidence strengthened further, helped by substantial repayments of government domestic debt. Services, agriculture, and wood processing were the main sectors contributing to growth.
Download or read book Gabon written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-02-05 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: The continued decline in oil production and the absence of sustained adjustment policies have contributed to Gabon's uneven economic performance over the past three years. To strengthen further the track record before discussing a possible IMF-supported program, a staff-monitored program has been established for the period September–December 2003. The authorities emphasized their determination to confront the challenges facing the country by pursuing policies aimed at diversifying the economy, sustaining growth, and reducing poverty while containing financial imbalances.
Download or read book Gabon written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2013-03-08 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic growth has been robust under favorable conditions in Gabon, but has not been inclusive enough, leaving one-third of its population in poverty. Building larger fiscal buffers, backed by a more prudent fiscal stance, will be critical to withstand possible negative oil price shocks. Efforts are under way to improve the management, and transparency of public finance must be carried out vigorously. Comprehensive policies are needed to support a diversified and more inclusive economic growth that is rich in employment opportunities.
Download or read book Guinea 2021 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for Guinea written by International Monetary and published by International Monetary Fund. This book was released on 2021-07-06 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the non-mining sector was severely impacted by the COVID-19 crisis, overall growth in Guinea remains strong, reaching 7 percent in 2020, driven by booming mining production. Inflation exceeded 12 percent as a result of COVID-related supply disruptions and the ongoing monetary and fiscal response. The already weak social indicators have deteriorated further.
Download or read book Gabon written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-01-05 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Republic of Congo Article IV Consultation and a New Staff monitored Program written by and published by . This book was released on 2003 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Gabon Request for Stand By Arrangement Staff Supplement Press Release on the Executive Board Discussion and Statement by the Executive Director for Gabon written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2004-06-22 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: The staff report for the Request for Stand-By Arrangement on Gabon highlights economic developments and policies. A higher-than-anticipated rise in oil GDP more than offset lower-than-expected growth of non-oil GDP. Overall fiscal performance was strong, as the non-oil primary deficit was reduced by 8.6 percentage points to 8.2 percent of non-oil GDP in 2003. The authorities have strengthened their medium-term program to address the weaknesses in public finances that came to the fore under the staff-monitored program (SMP) and to tackle the impediments to private sector development while improving social indicators.
