Gabon : Second Review Under the Stand-By Arrangement, Request for Waiver of Performance Criterion, and Review of Financing Assurances

International Monetary Fund

doi:10.5089/9781451813951.002

Gabon : Second Review Under the Stand-By Arrangement, Request for Waiver of Performance Criterion, and Review of Financing Assurances

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Journal Issue

Volume/Issue:: 2005/5
Series:: IMF Staff Country Reports
Author(s):: International Monetary Fund
Publisher:: INTERNATIONAL MONETARY FUND
Published Date:: January 2005
DOI:: http://dx.doi.org/10.5089/9781451813951.002
ISBN:: 9781451813951
ISSN:: 1934-7685
Page:: 97

The staff report for the Second Review Under the Stand-By Arrangement (SBA) on Gabon focuses on economic developments and policies. The program supported by the 14-month SBA aims at promoting non-oil GDP growth, while sustaining fiscal adjustment and improving public expenditure management. All performance criteria for end-September 2004 were observed, even though there were small slippages in the indicative targets for non-oil revenue and the net reduction of unpaid payments orders at the treasury. The macroeconomic environment has improved since the first review, reflecting slightly higher oil production and considerably higher oil prices.

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Gabon: Second Review Under the Stand-By Arrangement, Request for Waiver of Performance Criterion, and Review of Financing Assurances--Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Gabon