Public debt in Gabon rose sharply in the first 10 months of 2025, climbing 20.6 percent as mounting arrears underscored growing pressure on state finances, official data showed.
According to figures released by the General Directorate of Debt (DGD), the country’s outstanding public debt increased from 7,133 billion CFA francs at the end of December 2024 to 8,606.6 billion CFA francs (US$15.37 billion) by the end of October 2025 a rise of nearly 1,473 billion CFA francs.
The increase was driven mainly by domestic borrowing, which reached 4,391.9 billion CFA francs. Regional financial markets accounted for more than 3,200 billion CFA francs of that total, highlighting the treasury’s growing reliance on local and regional financing.
External debt stood at 4,214.8 billion CFA francs, dominated by multilateral lenders and international financial markets. Commitments to multilateral institutions amounted to about 1,646.7 billion CFA francs, while borrowing on international markets exceeded 1,397 billion CFA francs.
The structure reflects a rising dependence on commercial and bond financing to fund government policies.
Debt arrears also continued to accumulate. By the end of October, unpaid obligations reached 443.6 billion CFA francs (US$792 million), up more than 174 billion CFA francs from December 2024.
The stock includes both overdue current maturities and older arrears, pointing to persistent liquidity constraints and raising concerns about the government’s ability to meet obligations to creditors and suppliers, with possible knock-on effects on economic activity.
The trend reinforces warnings from international lenders. In its latest economic update, the World Bank said Gabon’s public debt is expected to continue rising and could reach 86.1 percent of gross domestic product by 2027, well above the 70 percent convergence ceiling set by the CEMAC regional bloc.
Gabonese authorities have defended their borrowing strategy, arguing the focus should be on the quality rather than the size of debt. Economy and Finance Minister Henri-Claude Oyima said debt becomes problematic only when it fails to generate returns.
“When borrowing finances structuring investments that generate income, debt becomes a factor for development,” he was quoted as saying in local media.
