The Gabonese government has announced that it has resolved its payment dispute with the World Bank, which had been ongoing due to technical difficulties that prevented the country from meeting its commitments by June 30. According to a statement released by the Ministry of Public Accounts, the arrears have been paid back to the World Bank, marking a significant development in the dispute.
The dispute came to light after a confidential World Bank note was leaked and went viral, revealing that the financial institution had suspended Gabon’s right to make loan and grant withdrawals due to the country’s failure to honor its obligations. The payments in question were worth approximately $17 million, and the suspension had raised concerns about the impact on various development projects in Gabon.
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The Ministry of Public Accounts attributed the delayed payments to technical issues, which have since been resolved. The government also emphasized its commitment to settling all outstanding debts inherited from the previous administration of Ali Bongo. The current ruling junta, which took power last year, has been working to address the debt burden and ensure fiscal stability in the country.
The resolution of the dispute is a positive development for Gabon, as it will enable the country to access critical funding for various development projects. The urban modernization project, technical vocational training for youth, expansion of fiber optic networks, and the eGabon project aimed at digitizing Gabon’s administration are some of the initiatives that were at risk due to the suspension.
