Gabon’s public debt falls below 70% of GDP after audit

Gabon now has a clearer picture of its public debt. An audit commissioned by the state and finalized as of 31 December 2025 has set the consolidated debt stock at 9,524.643 billion CFA francs, down from nearly 11,700 billion when the exercise began. The debt-to-GDP ratio now stands at 68.91%, compared with 84.6% previously. This revision represents a drop of 15.69 percentage points and brings the country below the 70% ceiling set by the Central African Economic and Monetary Community (CEMAC).

How the audit was conducted

Launched officially on 17 June 2026, the work was carried out by a committee established under Order No. 077/MEFDPLVC of 27 April 2026. The committee’s task was to verify, inventory, and consolidate the state’s financial commitments, particularly due liabilities. It relied on International Monetary Fund (IMF) references, including the 2014 Government Finance Statistics Manual and the Public Sector Debt Statistics Guide. The 68.91% ratio is based on a preliminary estimate of 2025 nominal GDP of 13,822 billion CFA francs.

What the comparison reveals

The comparison with the initial situation shows the scale of the operation. Nearly 2,175 billion CFA francs no longer appear in the consolidated reference stock. This is not a repayment but a clarification of the commitments actually retained. The audit examined unimplemented projects, funds not transferred to the Treasury, and commitments previously recorded as public liabilities. The result provides a more accurate reading of the debt.

Implications for the IMF program

This new baseline comes as Libreville requested a new economic and financial program from the IMF in March 2026. The audit report has been sent to the institution and will serve as a reference in discussions. For Gabon, moving from 84.6% to 68.91% of GDP improves the public finance profile and brings the country back under the community criterion. Above all, it fosters a return of confidence, provided spending remains controlled and arrears are cleared.

The current government can be credited with initiating this clarification exercise on a heavy financial situation inherited from the ousted regime. However, the reported decline does not mean that 2,175 billion CFA francs have been repaid. Rather, it provides a more solid basis for managing public finances, negotiating with the IMF, and preparing a debt reduction strategy.

With 9,524.643 billion CFA francs “just” to manage, the pressure has eased somewhat for the government.