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Libreville, Thursday, July 4, 2024 (Infos Gabon) – The International Bank for Reconstruction and Development (BIRD) decided on July 1, 2024 to suspend the withdrawal of funds from Gabon due to overdue debts exceeding 17 million US dollars, or 10.4 billion CFA francs, which Gabon has just reversed by repaying its debts.
In a press release issued on July 3, 2024, the Ministry of Budget and Public Accounts announced that the Gabonese government has settled its arrears to the World Bank through the Bank of Central African States (BEAC), ending the suspension of payments by the international financial institution.
Charles Mba explained: “The delay in the deadline is related to technical reasons that make it impossible to fulfill all commitments before June 30, 2024.”
“The Directorate General of Public Accounts and Finance (DGCPT) has already paid these outstanding debts and all debt maturities for the benefit of other multilateral creditors are in the process of payment and should be fully liquidated within a few days,” it added.
According to the adopted strategy, the DGCPT will have to repay market debts of nearly 136 billion CFA francs in June 2024 alone. Moreover, in accordance with the high-level instructions of the Transitional President, the Government has taken all steps to gradually settle this debt, in accordance with the strategy of gradually becoming uninterested in all types of creditors (multinational corporations, domestic creditors).
The Minister of Budget and Public Accounts, while thanking all technical and financial partners for their support, recalled that the day after August 30, 2023, the Government inherited a considerable debt situation, including huge accumulated arrears that could not be fully liquidated.
FIN/INFOSGABON/SM/2024
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