We would like to thank staff for their productive engagement with the Gabonese authorities and for the informative report. The authorities are appreciative of Fund’s support to Gabon as they implement their Economic Recovery Program (PRE) to restore macroeconomic and external stability in the face of a challenging environment.
The Gabonese authorities followed through on their commitment to adjust policies in response to the recent oil price shock. As a result, end-June 2017 performance under the Extended Fund Facility (EFF) arrangement has been satisfactory. Going forward they remain committed to achieving the objectives of their program. In this light, we would appreciate Directors’ favorable consideration of the authorities’ request for the completion of the first review under the EFF.