Gabon gets new financial support from IMF for its Economic Recovery Plan
Thursday, 26 October 2017 11:57
The International Monetary Fund (IMF) will provide FCFA400 billion to Gabon to accelerate the implementation of its Economic Recovery Plan, a statement from the Budget ministry revealed.
According to IMF’s deputy head for Africa, Alex Segura-Ubiergo (picture), the institution “will support the Gabonese state’s efforts, in order to help it overcome the difficult crisis which it currently experiences as a result of the drop in oil prices”.
The new facility is part of a broader envelope of CFA617 billion ($1.1 billion) announced for Gabon for 2017, last June. Out of the total amount, only 31% or CFA200 billion have already been disbursed. The remaining sum (above mentioned CFA400 billion) will come in two tranches, according to the IMF executive.
Fiacre E. Kakpo
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