Gabon's public debt arrears reach 459.5 billion FCFA as government prioritizes international creditors

In 2025, Gabon's public debt arrears surged by 72% to 459.5 billion FCFA, despite the state repaying a record 2,565.4 billion FCFA without delay to eurobond holders. This indicates a clear hierarchy in Gabon's debt repayment strategy, prioritizing international financial market obligations over other creditors. The 459.5 billion FCFA in unpaid maturities by December 31, 2025, includes 233.3 billion FCFA from 2025 and 226.3 billion FCFA from previous years. The General Directorate of Debt's figures show that no arrears were recorded on the international financial market, with 267.1 billion FCFA in eurobond maturities fully honored. This approach is driven by the need to maintain the country's sovereign rating and access to international financing. However, other external creditors, such as bilateral partners, are owed 155 billion FCFA, and foreign commercial creditors are awaiting 121.4 billion FCFA. Multilateral institutions like the World Bank and AfDB have 40.6 billion FCFA in arrears. Domestically, moratorium debt accounts for 131.3 billion FCFA of the unpaid amounts, with 86.7 billion FCFA from 2025 alone. These are debts audited and validated by the Task Force on internal and external debt. The regional financial market, like the eurobond, is also protected to ensure ongoing Treasury financing. This strategy, while understandable in the short term, could erode trust among suppliers and partners essential for the real economy if it continues.