THE PRICE OF OIL BARREL IS ON THE INCREASE SINCE MARCH, BUT GABON’S RATING IS FALLING NEVERTHELESS! LE PRIX DU BARIL DE PÉTROLE EST LA HAUSSE DEPUIS MARS, MAIS LA NOTATION DU GABON DÉGRINCOLE NÉANMOINS !
English version
Dear readers, there is a strange asymmetric effects being observed in the Gabonese economy. Since March 2018, the price of oil has been on the increase, with today price being nearly 70 dollar the barrel. In the same time, the Gabonese credit rating has been plunging. Since Gabon gets most of its revenues from oil, one would have expected that high oil prices would indicate more revenue for the treasury and thus more confidence in the Gabonese credit worthiness by ratings agencies. But no, it is the opposite. How does the government explains this?
We will not give up!
Version française
Chers lecteurs, il y a des effets asymétriques étranges observés dans l'économie gabonaise. Depuis mars 2018, le prix du baril de pétrole est en hausse, avec aujourd'hui un prix proche de 70 dollars. Dans le même temps, la côte de crédit du Gabon a dégringolée. Puisque le Gabon tire la majorité de ses revenus du pétrole, on aurait pu s'attendre à ce que les prix élevés du pétrole indiquent plus de revenus pour la trésorerie et donc plus de confiance dans la solvabilité du Gabon, au regard des agences de notation. Mais non, c'est le contraire qui se produit. Comment le gouvernement explique-t-il cela?
Nous n'abandonnerons pas!
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