In Summary
- Gabon has resolved its payment dispute with the World Bank by paying back arrears.
- Authorities cited technical issues that prevented meeting commitments by June 30.
- The ruling junta cited inherited debt from the previous administration and committed to settling all outstanding debts.
LIBREVILLE, GABON– Gabon’s payment dispute with the World Bank has apparently been resolved. Authorities in the central African nation reported that technical issues made it impossible for the country to meet its commitments by the June 30 deadline.
In an undated statement, the ministry of public accounts announced that the arrears had been paid back to the World Bank. This resolution comes after a confidential World Bank note was leaked and went viral. The document, dated July 1, stated that the World Bank was suspending Gabon’s right to make loan and grant withdrawals due to a failure to honor its obligations. The overdue payments amounted to approximately $17 million.
The ruling junta, which took power from the Ali Bongo administration last year, inherited significant debt from the previous government. The ministry of public accounts reiterated the transitional government’s commitment to settle all outstanding debts, emphasizing their determination to address the financial challenges they inherited.
