A clearer picture of Gabon’s public debt
Gabon now has a more accurate view of what it owes. After an audit commissioned by the state and closed on 31 December 2025, the consolidated public debt stock was set at 9,524.643 billion FCFA, 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. That revision amounts to a drop of 15.69 percentage points and brings the country back under the 70% ceiling set by the Central African Economic and Monetary Community (Cémac).
How the audit was carried out
The work was formally launched on 17 June 2026 by the committee created under order No. 077/MEFDPLVC of 27 April 2026. Its task was to verify, identify and consolidate the state’s financial commitments, particularly matured liabilities. The committee drew on International Monetary Fund (IMF) references, including the 2014 Government Finance Statistics Manual and the Guide on Public Sector Debt Statistics. The 68.91% ratio is based on a first estimate of 2025 nominal GDP of 13,822 billion FCFA.
What the comparison with the starting position shows
Comparing the new figure with the initial situation reveals the scale of the operation. Close to 2,175 billion FCFA no longer appear in the consolidated reference stock. This is not a repayment but a clarification of the commitments actually retained. The audit examined projects that were never carried out, funds not transferred to the Treasury, and commitments previously recorded as public liabilities. The outcome offers a more precise reading of the debt.
Why the new figure matters now
The revised base comes as Libreville sought a new economic and financial programme from the IMF in March 2026. The audit report has been sent to the institution and is expected to serve as a reference in those discussions. For Gabon, moving from 84.6% to 68.91% of GDP improves the public finance profile and restores compliance with the community criterion. Above all, it supports a return of confidence, provided spending stays under control and arrears are cleared.
A clarification exercise on an inherited financial burden
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 FCFA have been repaid. It instead provides a stronger basis for steering public finances, negotiating with the IMF and preparing a debt reduction strategy.
With 9,524.643 billion FCFA “just” to manage, the pressure eases somewhat for the government.
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