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

Gabon now has a clearer picture of its public debt. Following an audit launched by the state and finalised as of 31 December 2025, the consolidated stock was set at 9,524.643 billion CFA francs, down from nearly 11,700 billion at the start of the exercise. The debt ratio stands at 68.91% of gross domestic product (GDP), compared with 84.6% previously. This revision represents a drop of 15.69 percentage points and brings the country below the 70% community ceiling set by the Central African Economic and Monetary Community (Cemac).

Officially launched on 17 June 2026, the work was carried out by the committee established by decree No. 077/MEFDPLVC of 27 April 2026. Its aim was to verify, identify and consolidate the state’s financial commitments, particularly due liabilities. The committee 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 first estimate of nominal 2025 GDP of 13,822 billion CFA francs.

Comparing 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.

This new baseline comes as Libreville requested a new economic and financial programme from the IMF in March 2026. The audit report was sent to the institution and is to 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 launching this clarification exercise on a heavy financial situation inherited from the deposed regime. The reported decline does not mean that 2,175 billion CFA francs have been repaid. Rather, it provides a more solid basis for steering 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.