Gabon’s Double Audit Sends Shivers Through Libreville as Debt Public Stock Looms

The clock is ticking on the release of two audits on public finances in Gabon, sending tremors through Libreville in mid-July. On one hand, the Committee for Audit and Consolidation of Exigible State Debts, launched by Economy Minister Thierry Minko last month, must submit its findings next week on a stock debt public valued at around 8,700 billion FCFA, equivalent to between 70% and 74% of GDP.

On the other hand, the Task force for Public Debt has documented over six years a system of surcharges and fake works that explains in part the explosion of internal debt, this latter having been multiplied by seven between 2020 and 2023!

This convergence of audit timelines is not coincidental. The Eurobond Gabonese 2031 recently saw its lowest point in over a year after IMF projections valued public debt at 85.5% of GDP, above the Cemac norm of 70%. Meanwhile, the sovereign spread Gabonese has dropped from over 1,100 points in January 2026 to 689.60 points in mid-April.

The report’s findings will not only be scrutinized by investors but also determine what will be done with these funds. Already, investors are bracing for a wave of lawsuits targeting Ali Bongo’s regime. Libreville is presenting these audits as essential to the country’s financial stability and that their outcome will dictate its access to concession financing indispensable for its investment program.

Libreville is keenly aware of the importance of transparency in avoiding a sovereign crisis, which would have catastrophic consequences for the economy. The upcoming audits are a critical step towards restoring confidence among investors and lenders.