The rating agency affirmed the country’s credit ratings at “B-” and assigned a “stable” outlook
Global ratings agency Fitch removed Gabon from “rating watch negative” (RWN) on Friday citing easing political uncertainties in the country after the formation of a transitional government.
The ratings agency affirmed the country’s credit ratings at “B-” and assigned a “stable” outlook.
“No economic or financial sanctions were imposed on Gabon, which managed its Eurobond payments,” Fitch said in a statement.
Fitch had put Gabon on rating watch negative last year following a coup.
In West and Central Africa’s eighth coup in three years, military officers seized power on Aug. 30, 2023 and election results were annulled, just minutes after former President Ali Bongo was declared to have won a third term.
Last year, shortly after Fitch’s RWN, Moody’s also cut Gabon’s outlook to “negative”.
According to Fitch’s statement on Friday, the new regime intends to convene a national dialogue to draft a new constitution and electoral code to host free and fair elections, scheduled for August 2025.
Reuters reported this month that a team from the International Monetary Fund was expected to visit Gabon in late January or early February for Article IV discussions — the first visit since December 2019.
Article IV discussions usually happen annually and are bilateral discussions where the Fund collects economic and financial information and discusses economic developments and policies.
Source: Zawya
