Gabon

Gabon is the second largest economy in the Central African Economic and Monetary Union (CEMAC). Since mid-2014, the decline in oil prices has generated a sharp slowdown in economic activity, large drops in oil exports and fiscal revenues, and widening fiscal and current account deficits. The Gabonese authorities are requesting a three-year, extended arrangement under the Extended Fund Facility (EFF) in an amount equivalent to SDR 464.400 million, corresponding to 215 percent of Gabon’s quota at the Fund.