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IMF mission in Libreville to assess Gabon’s economic situation

A mission of the International Monetary Fund (IMF) led by the Deputy Head of Africa Division, Alex Segura Ubiergo, has since Wednesday been in Libreville to take stock the program concluded with Gabon in 2017.Segura Ubiergo, accompanied by the IMF Resident Representative in Gabon, met with Gabonese Budget minister Jean Fidele Otandault to review the program, with a first disbursement of US $ 642 million under way.

This IMF program with Gabon aims to support the government in its Economic Recovery Plan (ERP) put in place in the wake of the re-election of Ali Bongo Ondimba for another seven-year term in 2016.

This mission of the IMF will also review the growth prospects, analyze the fiscal outlook, the balance of payments and the outlook for the economy of Gabon.

“We are always ready to explain the progress of the program, and indeed we would like to thank the government for the efforts in the implementation of the first phase of the agreement and especially the Minister of Budget and Public Accounts,” Marcos Poplawski, economic analyst at the office the IMF Resident Representative in Gabon said.

For his part, the Budget minister stressed that the clearance of domestic debt was an important step towards the revitalization of the country’s economy.

Despite the current economic downturn, the country’s department for dent monitoring expects 2.8% growth in 2018.

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