Gabon is expecting 124 billion FCFA from the International Monetary Fund under the aegis of the Rapid Financing Instrument. The latter, in turn, is conditioned as per the publication of the report on expenditure which is related to COVID-19 management. The Rapid Financing Instrument helps member countries who are in dire need of BoP financing.
The government of Gabon will publish the expenditure report due to COVID-19 by July of 2022. This announcement was made by Alain Claude Bilie-By Nze at a press conference that was hosted on 9th June, alongside his counterpart from Health and Social Affairs, Dr. Guy Patrick Obiang Ndong.
Alain Claude Bilie-By Nze said that he had discussed with colleagues who are in charge of the dossier, the economy minister as well as the budget minister. He said there were some technical details to be taken into account and that both of these happened at the general meetings of the World Bank and the IMF. Once all this is readied, the report will be published.
This report publication is a part of the agreement that was concluded between the IMF and Gabon so as to release the first instalment of funds under the RFI. Alain Claude Bilie-By Nze said that the government is committed to many things and it will never hesitate to make records public. However, there are no current injunctions to receive on this account that tell the Gabon government to publish it immediately. He also said the government is acting in a responsible manner.
When asked about the subject of transparency required in awarding orders that are public, the government of Gabon wants to be reassuring. According to the regulations of Gabon, the companies that are going to be benefited from state contracts have to be identified and known.
Alain Claude Bilie-By Nze said that it was a tender call, and if there is a need to reveal the owners of the companies and their nationalities, there is no problem at all in making the names public.
It should be borne in mind that in July of 2020 the IMF had approved of disbursement of 85 million FCFA under the aegis of the IFR to Gabon, in order to fight the battle against COVID-19. These funds were for helping Gabon promote healthcare, protection of the most vulnerable and also support the private sector along with small businesses.