Gabon depended on timber and manganese until oil was discovered offshore in the early 1970s. Gabon continues to face fluctuating prices for its oil, timber, manganese, and uranium exports. Despite the abundance of natural wealth and a manageable rate of population growth, the economy is hobbled by poor fiscal management. Those agreements mandate progress in privatization and fiscal discipline. France provided additional financial support in January 1997 after Gabon had met IMF targets for mid-1996.
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