Gabon: First Review of the Extended Arrangement under the Extended Fund Facility, Requests for a Waiver for Nonobservance of Performance Criterion, and Modifications of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report;

First Review of the Extended Arrangement under the Extended Fund Facility, Requests for a Waiver for Nonobservance of Performance Criterion, and Modifications of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Gabon

Author: International Monetary Fund. African Dept.

First Review of the Extended Arrangement under the Extended Fund Facility, Requests for a Waiver for Nonobservance of Performance Criterion, and Modifications of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Gabon

Volume/Issue: Volume 2017 Issue 408

Publication date: December 2017

ISBN: 9781484335697

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Taxation - General , ISCR , CR , government , support private sector credit growth , end-September IT , public finance management reform , IMF staff calculation , economic recovery plan , Gabon's program , Arrears , Government debt management , Oil , gas and mining taxes , Central Africa , Sub-Saharan Africa

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Summary

This paper discusses Gabon’s First Review of the Extended Arrangement Under the Extended Fund Facility (EFF), Requests for a Waiver for Nonobservance of Performance Criterion (PCs) and Modifications of PCs, and Financing Assurances Review. The short-term outlook remains challenging. Although a growth rebound in 2018 is expected given recent developments in foreign direct investment inflows and better-than-previously projected activity in the oil and mining sectors, weaknesses in non-oil revenue collections and tight short-term liquidity conditions are sources of fiscal risk. The IMF staff supports the authorities’ request for the completion of the first review, and modification of PCs for end-December 2017.