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Gabon : Request for a Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Gabon.

Author/Creator:
International Monetary Fund. African Department.
Publication:
Washington, D.C. : International Monetary Fund, 2020.
Format/Description:
Government document
Book
1 online resource (41 pages)
Series:
IMF eLibrary
IMF Staff Country Reports; Country Report ; No. 20/109
IMF Staff Country Reports
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Summary:
This paper highlights Gabon's Request for a Purchase Under the Rapid Financing Instrument (RFI). The coronavirus disease 2019 (COVID-19) pandemic and concurrent collapse in oil prices are expected to put the economy under extreme stress, particularly in a context of limited financial buffers. Economic activity will slow, and the fiscal and external positions will weaken, creating significant additional financing needs. In addition to immediate measures of containment, including border closures and curfews, the authorities are also taking significant steps to strengthen health policy responses and support households and firms. The RFI fund is expected to help create fiscal space for essential COVID19-related expenditure and catalyze donor support. The size and impact of the shocks is, however, subject to a considerable margin of uncertainty. The IMF continues to monitor Gabon's situation closely and stands ready to provide policy advice and further financial support if needed, in collaboration with other donors. The authorities should stand ready to suspend all emergency measures once the crisis subsides. Over the medium term, public debt needs to be put back on a firmly downward path. The decline in oil prices will necessitate faster fiscal adjustment and economic diversification.
Notes:
Part of the IMF eLibrary collection.
Description based on print version record.
Other format:
Print Version: Gabon: Request for a Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Gabon
ISBN:
1513540831 :
9781513540832
ISSN:
1934-7685
Publisher Number:
10.5089/9781513540832.002 doi
Access Restriction:
Restricted for use by site license.