Abstract
Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Gabon
1. This supplement provides an update on Gabon’s external arrears since the issuance of the staff report for the request for purchase under the Rapid Financing Instrument.
2. Since the issuance of the Staff Report, staff has received new information regarding Gabon’s external arrears. In particular, staff became aware that, due to a technical issue, Gabon recently incurred official bilateral arrears to Canada in an amount of US$124,056. The Gabonese authorities have issued payment instructions for this amount. As this payment has not been received by Canada, Gabon currently has external arrears to Canada. Under the Fund’s arrears policy, the Board may proceed to approve Gabon’s request for a purchase under the RFI to the extent that Canada does not object to the provision of Fund financing notwithstanding arrears. Staff has received assurances of non-objection from the ED representing Canada. The thrust of the staff appraisal remains unchanged.