Gabon Falls Out of Africa’s Top 10 Heavily Indebted Countries List. LIBREVILLE, Gabon — 26 February 2026 Lead Paragraph The Gabonese economy has shown signs of improvement as it no longer ranks among the top ten African countries with the highest debt to the International Monetary Fund (IMF), according to the latest quarterly reports from the IMF. This development is seen as a positive signal for the nation’s economy, attributed to strategies implemented by the government under President Brice Clotaire Oligui Nguema, which focus on diversifying financing sources and proactive debt management.
The strategies, including increased reliance on the regional CEMAC bond market and bilateral partnerships, particularly with China, have paid off.
However, the American credit rating agency Fitch Ratings had downgraded Gabon’s sovereign credit rating to CCC– in December last year, citing excessive debt due to increased public spending to address social pressures. At the time, experts predicted that the public debt could reach over 85% of the GDP by 2026, up from 73% in 2024.
Despite these concerns, Gabon’s exclusion from the FMI’s top ten heavily indebted African countries list is a positive indicator of the structural reforms undertaken.
These measures have provided additional budgetary margins, enhanced the country’s attractiveness to investors, and reduced arbitration risks.
The ten countries with the highest debt to the IMF in Africa are Egypt, Ivory Coast, Kenya, Ghana, Angola, the Democratic Republic of Congo, Ethiopia, Tanzania, Zambia, and Cameroon.
It is important to note that debt to the IMF does not necessarily indicate economic fragility.
In many cases, it serves as a macroeconomic stabilization tool, a framework for structural reforms, and temporary support during crises.
The government’s efforts to stabilize the economy and reduce debt are expected to continue.
Further details regarding the country’s economic outlook and potential reforms are anticipated in the coming weeks.
