Gabon’s finance ministry announced signing an additional $150 million programme with the World Bank on Thursday, expanding total commitment to $600 million.
A special commission will be created to conduct a comprehensive audit of Gabon’s public debt across state institutions and liabilities.
The oil-producing nation is deepening engagement with the International Monetary Fund and World Bank to strengthen fiscal discipline and economic stability.
Authorities aim to review past borrowing and secure new funding for basic infrastructure amid long-standing concerns over fiscal slippages.
The audit follows reported failures to complete projects and to transfer certain funds into official state treasury accounts.
It also highlights alleged breaches of contracts and budgetary rules during the 2016 to 2023 period under previous administration.
The commission will be coordinated by the economy and finance minister with technical support from the International Monetary Fund, lasting two to three months.
Gabon has also formally requested an International Monetary Fund programme to help stabilise public finances and restore investor confidence.
