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Gabon Faces Credit Downgrade Amid Economic Turmoil

12/23/2025

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Summary

Story summary

Fitch Ratings downgraded Gabon's long-term foreign-currency rating to CCC- from CCC in 2025, citing widening deficits and reduced investor interest.
The downgrade reflects significant liquidity pressures from budget shortfalls and limited access to the regional debt market.
Investor demand for Gabonese bonds has weakened, with recent auctions showing low bid-to-cover ratios.
Brice Oligui Nguema, head of Gabon's government after the 2023 coup, plans to audit mining contracts and pursue IMF support.

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Story summary

Fitch Ratings downgraded Gabon's long-term foreign-currency rating to CCC- from CCC in 2025, citing widening deficits and reduced investor interest.
The downgrade reflects significant liquidity pressures from budget shortfalls and limited access to the regional debt market.
Investor demand for Gabonese bonds has weakened, with recent auctions showing low bid-to-cover ratios.
Brice Oligui Nguema, head of Gabon's government after the 2023 coup, plans to audit mining contracts and pursue IMF support.