• Audit follows 2023 review that uncovered inflated contracts and misuse of funds
• Public debt hit $12.8B; external share seen rising above 70% by 2027
• Finance ministry aims to verify obligations, reject unjustified claims, and restore transparency

Gabon plans an audit of its external debt, a source within the Gabonese administration confirmed, following a recent initiative to clean up its domestic debt.

The operation, overseen by the Ministry of Economy and Finance, aims to establish the country's true level of indebtedness, identify legitimate debts for repayment, and expose irregularities in public finance management. Similar to the domestic debt review, the state intends to repay only those external obligations that are verifiable and justified, ensuring a sustainable cleanup of the government's commitments.

By undertaking this audit, the Gabonese government hopes to restore the credibility of Gabon's credit standing on the international stage.

This new audit continues the work of the presidential task force for the control, audit, and verification of domestic and external debts, which was created on September 21, 2023, by the Committee for the Transition and Restoration of Institutions (CTRI), the body established by the military after the August 30, 2023, coup.

An earlier 60-day audit conducted by the task force in 2023 uncovered widespread issues, including overbilling on state contracts, non-compliance with public procurement procedures, and the misappropriation of project funds. The task force also criticized excessive operating budgets, misuse of funds, and incompetent project coordinators holding multiple administrative roles in ministerial offices. This history underscores the need for a radical policy to clean up public finances and combat illicit enrichment.

According to the General Directorate of Debt (DGD), Gabon's outstanding public debt reached 7,179.056 billion CFA Francs ($12.8 billion) at the end of March 2025. External debt accounts for the largest share of the portfolio, estimated at 60.7% of total debt in 2024, a proportion expected to increase to 71.8% by 2027.

For the 2025 budget year, the draft Finance Law projects a 471.2 billion CFA Francs effort toward external debt amortization. This amount is allocated for repayments to multilateral creditors (228.4 billion), bilateral creditors (103.2 billion), the international market (100 billion), and banking institutions (39.6 billion).

Sandrine Gaingne