Fitch revises Gabon outlook to positive

Fitch Ratings said it revised the outlook on Gabon to positive from stable and affirmed its long-term foreign-currency issuer default rating at B-.

“The revision of the outlook reflects improvement in Gabon's fiscal trajectory, given higher oil revenue and continued restraint with current spending, anchored by an IMF program. We expect higher oil prices, control of spending and better mobilization of non-oil revenues will improve Gabon's fiscal metrics and debt/GDP will remain on a downward path,” the agency said in a press release.

Gabon’s weak history of public finance management and reliance on oil revenues strain Gabon's B- rating.

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