Gabon’s president, Brice Oligui Nguema, has replaced the country’s finance minister amid mounting concerns over debt, liquidity shortages, and rising payment arrears, according to an official decree.
Henri Claude Oyima, a senior banker and businessman, had been appointed to the finance post in May following Nguema’s election, the first since he seized power in a 2023 coup. His removal comes as the oil producing Central African country faces increasing strain in securing financing.
Under the decree issued late on Thursday, technical adviser Thierry Minko has been appointed minister of economy, finance, debt and state shareholdings, with a mandate that also includes tackling the high cost of living. Another senior official, Marc Abeghe, will oversee budgetary affairs within the ministry.
Gabon has become increasingly dependent on regional capital markets to meet its funding needs, but demand for its debt has weakened sharply in recent months. Media reports citing ratings assessments have pointed to widening fiscal deficits and limited access to official creditor financing as key vulnerabilities.
Government debt is projected to rise steadily over the coming years, climbing from just under three quarters of gross domestic product in 2024 to more than 86 percent by 2027, raising concerns about long term sustainability.
In an effort to boost revenues, the presidency announced in December plans to introduce a new housing tax in 2026, aimed at funding public lighting, road maintenance, and urban sanitation.