Gabon: First Review Under the Stand-By Arrangement and Requests for Waiver of Nonobservance of Performance Criteria and Modification of a Performance Criterion: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Gabon

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International Monetary Fund, Jan 17, 2008 - Business & Economics - 56 pages
Gabon showed robust economic growth, low inflation, and large fiscal savings from high oil revenue, underpinned by prudent macroeconomic policies and structural reforms under the Stand-By Arrangement (SBA). Executive Directors suggested that stronger fiscal discipline is essential to keep the economy stable. They stressed the need for strengthening public financial management and adjusting fiscal programs to accommodate higher-than-programmed fuel subsidies. They advised that enhancing the investment climate by strengthening governance and increasing transparency, as well as by lifting the temporary price controls, will remove constraints to the growth of non-oil activity.
 

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Contents

EXECUTIVE SUMMARY
I DEVELOPMENTS AND PERFORMANCE ON THE PROGRAM
II POLICY DISCUSSIONS
III STAFF APPRAISAL
Appendix I Assessing External Debt Sustainability
Attachment I The Authorities Letter of Intent
A Macroeconomic Framework for 2008
C Public Financial Management Reform
IMFWorld Bank collaboration
IMFWorld Bank collaboration in specific areas
Areas in which the World Bank leads and its analysis serves as input for the IMF
Areas of shared responsibility
ANNEX III STATISTICAL ISSUES
National accounts
Prices
Monetary statistics

Strengthening revenue administration and transparency
Enhancing the quality of public spending
D Paris Club Debt Buyback
ANNEX I RELATIONS WITH THE FUND
ANNEX II RELATIONS WITH THE WORLD BANK
Balance of payments and trade statistics
IMF Executive Board Completes First Review Under Gabons StandBy Arrangement
Statement by Laurean Rutayisire Executive Director for GabonDecember 19 2007
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