Lockdown of the great Libreville, disbursement of 250 billion CFA francs response fund, Food Bank, free transport are key taken by Gabonese authorities to curb the spread of Covid 19. The Representative of the International Monetary Fund IMF Boileau Loko has lauded these moves. But also expresses reservations over the implication of their application.
The head of mission of the International Monetary Fund (IMF) for Gabon considers that these decisions which include the lockdown to “help contain the pandemic and save human lives, which is the priority. ” According to Boileau Loko, the “timely” and rapid response from the Gabonese authorities to contain the impact of the Covid-19 goes in the right direction. Especially since all “measures aimed at both the private sector, especially small businesses and the most vulnerable segments of the population should help mitigate the social and economic impact of the pandemic,” he said.
He however noted, that it now left to “meticulously assess the costs of these measures and ensure that they will be properly targeted”. Boileau Loko did not fail to express fears about the confinement which will “undoubtedly lead to the interruption of many informal activities and worsen the precariousness of the households which depend on it”.
Generally speaking, the international official explains, “given the size of the informal sector in Africa, national governments should take measures to help the most vulnerable populations in particular.”
Addressing the mechanisms put in place by his institution to help Gabon contain the pandemic, Boileau Loko said that “Gabon is eligible for the rapid financial instrument given its status as a high-middle-income country”. And the IMF chief of mission recalled that the IMF’s board of directors “approved on April 9, 2020 financial assistance of about 88 billion CFA francs for Gabon under the rapid financing instrument”. These resources, said Boileau Loko, “should help the country meet the urgent financing needs arising from the Covid-19 pandemic and the terms of trade shocks.”
