Gabon’s payment dispute with the World Bank has been resolved, authorities in the central African nation announced. Technical issues had previously prevented Gabon from meeting its financial commitments by the June 30 deadline, according to the country’s ministry of public accounts.
In an undated statement, the ministry confirmed that the arrears had been paid back to the World Bank. This resolution follows the leak of a confidential World Bank note, which quickly went viral. The document, dated July 1, revealed that the World Bank had suspended Gabon’s right to make loan and grant withdrawals due to the country’s failure to honor its obligations, amounting to approximately $17 million.
Gabon’s ruling junta, which took power from the Ali Bongo administration last year, inherited significant debt from the previous government. The ministry of public accounts emphasized the transitional government’s commitment to settling all outstanding debts, despite the challenges inherited from the Bongo era.
The resolution of this payment dispute marks a critical step for Gabon as it seeks to stabilize its financial relationships and restore confidence with international lenders.
- Tags: Gabon, Loan, World Bank
