Many rumors are circulating about the latest mission of the International Monetary Fund (IMF) in Gabon, which stayed in the country from April 24 to 30 under the leadership of Beninese Boileau Yeyinou Loko, previously stationed in Senegal.
The liquidation order of the Compagnie Nationale des Hydrocarbures, the Gabon Oil Company (GOC) and the Gabonese Refining Company (SOGARA), as reported by the press, is unfounded. However, the Fund wants concrete restrictions from the public service.
The communiqué of the Ministry of Petroleum, Gas and Hydrocarbons underlines that “there was no question for the Fund to give any injunction to the Gabonese government to liquidate the Gabon Oil Company (GOC) or the Gabonese Refining Company ( SOGARA) “.
And to remember that the International Monetary Fund is not intended to replace a state but to support states for inclusive development through public policies that bring growth.
The Fund would condition the release of $ 246 million (147.6 billion francs, finally unblocked) remaining from its budget support program for Gabon to the implementation of concrete operations. The 2.8% growth forecast for 2019, following the modest 0.8% recorded in 2018, is insufficient in view of the country’s economic development objectives. “There is significant progress that has been made, but much more needs to be done to make people feel the benefits of the country’s efforts,” said the IMF’s chief of mission.
