Gabon Bonds Post Biggest Selloff in Year After IMF Flags Debt Woes By Ray Ndlovu April 15, 2026 at 1:22 PM GMT+2 Save Translate Listen 2:20 Takeaways by Bloomberg AI Hide Gabon’s dollar bonds sold off after the International Monetary Fund’s latest report indicated the country is facing worse budget pressures than expected. The country's dollar-denominated bonds were the worst performers across emerging markets, with its notes due in 2031, 2031, and 2029 shedding more than 2.5 to three cents. The IMF report projected Gabon’s deficit at 10% this year, compared to last year’s 8.5%, with the gap expected to widen further to 11.2% in 2027 and to 12% in 2028. Gabon’s dollar bonds sold off the most in more than a year after the International Monetary Fund’s latest report indicated the country is facing worse budget pressures than expected. The central African nation’s three dollar-denominated bonds were the worst performers across emerging markets on Wednesday, bucking positive sentiment spurred elsewhere by hopes of a peace deal in the Middle East. Its notes due February 2031 fell more than three cents to trade at 84.97 cents on the dollar as of 12:15 a.m. in London, according to CBBT composite pricing. The yield jumped to 10.7%, having fallen into the single digits earlier this week for the first time since late 2024. Securities maturing July 2031 and in 2029 shed more than 2.5 cents, while Gabon’s yield spread over Treasuries widened by 86 basis points to 760 basis points, according to indicative intraday data from a JPMorgan Chase & Co index. Gabon's Dollar Bond Drops on Budget Fears Bonds had risen on higher oil, IMF deal hopes Note: CBBT composite pricing data used Source: Bloomberg The selloff follows the release of the IMF’s World Economic Outlook report which showed a worsening financial position in Gabon. While Gabon — a member of the Organization of the Petroleum Exporting Countries — benefits from higher oil prices, the report projected the country’s deficit at 10% this year, compared to last year’s 8.5%. The gap is expected to widen further to 11.2% in 2027 and to 12% in 2028, according to the IMF. These projections are wider than what Gabon had previously revealed, said Leo Morawiecki, an emerging markets analyst at Abrdn Investments Ltd. He noted that the new projections come shortly after Gabon formally requested an IMF program, and confirm investors’ fears it had been underclubbing its budget woes. “I always thought they were under reporting their fiscal and debt numbers,” Morawiecki said. “Gabon is now being transparent in the hope it will get them an IMF deal.” Read: Gabon’s Dollar Bonds Rally After Country Seeks New IMF Program Gabon is due to hold discussions about its financing program at this week’s IMF/World Bank Spring Meetings. President Brice Oligui Nguema had instructed his finance minister Thierry Minkoto in February to speed up efforts to secure the program over the next three months. The Next Africa newsletter runs every weekday. Sign up here for the newsletter, and subscribe to the Next Africa podcast on Apple, Spotify or anywhere you listen.bon

 

Gabon Bonds Post Biggest Selloff in Year After IMF Flags Debt Woes

By Ray Ndlovu

April 15, 2026 at 1:22 PM GMT+2

Takeaways by Bloomberg AI

• Gabon’s dollar bonds sold off after the International Monetary Fund’s latest report indicated the country is facing worse budget pressures than expected.
• The country's dollar-denominated bonds were the worst performers across emerging markets, with its notes due in 2031, 2031, and 2029 shedding more than 2.5 to three cents.
• The IMF report projected Gabon’s deficit at 10% this year, compared to last year’s 8.5%, with the gap expected to widen further to 11.2% in 2027 and to 12% in 2028.

Gabon’s dollar bonds sold off the most in more than a year after the International Monetary Fund’s latest report indicated the country is facing worse budget pressures than expected.

The central African nation’s three dollar-denominated bonds were the worst performers across emerging markets on Wednesday, bucking positive sentiment spurred elsewhere by hopes of a peace deal in the Middle East.

Its notes due February 2031 fell more than three cents to trade at 84.97 cents on the dollar as of 12:15 a.m. in London, according to CBBT composite pricing. The yield jumped to 10.7%, having fallen into the single digits earlier this week for the first time since late 2024.

Securities maturing July 2031 and in 2029 shed more than 2.5 cents, while Gabon’s yield spread over Treasuries widened by 86 basis points to 760 basis points, according to indicative intraday data from a JPMorgan Chase & Co index.

Gabon's Dollar Bond Drops on Budget Fears

Bonds had risen on higher oil, IMF deal hopes

Note: CBBT composite pricing data used

Source: Bloomberg

The selloff follows the release of the IMF’s World Economic Outlook report which showed a worsening financial position in Gabon. While Gabon — a member of the Organization of the Petroleum Exporting Countries — benefits from higher oil prices, the report projected the country’s deficit at 10% this year, compared to last year’s 8.5%.

The gap is expected to widen further to 11.2% in 2027 and to 12% in 2028, according to the IMF. These projections are wider than what Gabon had previously revealed, said Leo Morawiecki, an emerging markets analyst at Abrdn Investments Ltd.

He noted that the new projections come shortly after Gabon formally requested an IMF program, and confirm investors’ fears it had been underclubbing its budget woes.

“I always thought they were under reporting their fiscal and debt numbers,” Morawiecki said. “Gabon is now being transparent in the hope it will get them an IMF deal.”

Read: Gabon’s Dollar Bonds Rally After Country Seeks New IMF Program

Gabon is due to hold discussions about its financing program at this week’s IMF/World Bank Spring Meetings. President Brice Oligui Nguema had instructed his finance minister Thierry Minkoto in February to speed up efforts to secure the program over the next three months.

The Next Africa newsletter runs every weekday. Sign up here for the newsletter, and subscribe to the Next Africa podcast on Apple, Spotify or anywhere you listen.