Gabon has announced the launch of a new phase of cooperation with the International Monetary Fund (IMF, signalling a possible economic reform programme aimed at boosting growth while meeting regional macroeconomic rules, a move that has already revived debate over austerity and social risks.
In a statement released on Wednesday, the Ministry of Economy, Finance, Debt and State Holdings said Gabon would implement “an economic growth programme, with the support of the International Monetary Fund, in the macroeconomic interest of the CEMAC sub-region and in line with the country’s economic and social development ambitions.”
The Central African country is a member of the six-nation Central African Economic and Monetary Community (CEMAC), whose convergence criteria set limits on budget deficits, debt and inflation in order to safeguard regional monetary stability.
Renewed dialogue with the IMF
The government said the renewed engagement with the IMF follows high-level discussions held late last year. An IMF delegation led by Abebe Aemro Selassie, director of the Fund’s African Department, was received on Nov. 5, 2025 by President Brice Clotaire Oligui Nguema.
Those talks focused on Gabon’s development strategy, particularly efforts to strengthen governance, improve transparency in the management of public finances and raise living standards, the ministry said. It described the meeting as marking the authorities’ commitment to “strong and sustainable cooperation” with the IMF.
Since then, technical and institutional discussions between Gabonese officials and the Fund have intensified under the leadership of the Ministry of Economy, as the country seeks external support at a time of mounting fiscal pressure.
Cost of living concerns
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The government said the prospective programme is also intended to address the rising cost of living, a sensitive issue for households amid slowing growth, high unemployment and pressure on public finances.
“Discussions are taking place in a demanding budgetary context,” the statement said, without providing details on the size, duration or specific policy conditions of any potential IMF-supported programme.
The authorities stressed that Gabon’s economic policy remains anchored in the regional framework. In line with CEMAC rules, the country will work towards “sustainable budgetary harmonisation” and has called for a collective and coordinated approach at the community level.
Gabon, an oil producer whose economy remains heavily dependent on hydrocarbons, has faced recurring fiscal imbalances in recent years, exacerbated by volatile crude prices and structural weaknesses in revenue collection.
Commitment to reform
The ministry said Gabon remains “fully committed” to implementing a growth programme in accordance with IMF procedures and principles of accountability, transparency and cooperation, with the stated aim of preserving macroeconomic stability while supporting development.
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However, the announcement has sparked political debate, particularly over whether IMF engagement will lead to austerity measures similar to past adjustment programmes that were widely criticised for their social impact.
Opposition voices concerns
Former prime minister Alain-Claude Billie-By-Nze reacted on social media platform X, arguing that Gabon would likely be forced to revise its 2026 budget to comply with CEMAC convergence criteria as a precondition for IMF support.
“Austerity or austerity? No more populism, make way for reality,” wrote Billie-By-Nze, who was a presidential candidate in April 2025.
Ali Akbar Ononga Y’Obegue, a law professor at Omar Bongo University and former government adviser, said the authorities’ recourse to the IMF amounted to an admission that current fiscal policy had reached its limits.
In a post on Facebook, he argued that the 2026 budget, initially presented as credible and sovereign, was based on overly optimistic growth assumptions and had quickly shown its weaknesses.
While IMF support may be necessary to restore financial credibility and avert a deeper crisis, he warned against “blind austerity” measures that could worsen already fragile social conditions, drawing parallels with structural adjustment programmes implemented in Africa in the 1980s and 1990s.
Ononga Y’Obegue called for a balanced and socially responsible adjustment programme, including safeguards for vulnerable populations, realistic timelines and the involvement of civil society and other key stakeholders.
“The IMF must be a technical partner, not a master,” he said, adding that the government must protect citizens while restoring public finances.
