Gabon Eurobonds Gain as Junta Plans Two-Year Return to Democracy

Gabon’s military government plans to hold free elections in two years, newly appointed Prime Minister Raymond Ndong Sima said.

(Bloomberg) — Gabon’s military government plans to hold free elections in two years, newly appointed Prime Minister Raymond Ndong Sima said.

The transition period of 24 months is “a reasonable objective,” Sima said in an interview with Agence France-Presse on Sunday.

The head of the Republican Guard, Brice Oligui Nguema, seized power in the Central African nation on Aug. 30. The junta has pledged to put a proposed new constitution to a referendum, and introduce a new electoral code.

The military authority on Saturday appointed a new cabinet, including Mays Mouissi as the country’s economy minister.

Gabonese bonds gained for a third day on Monday, with its 10-year debt advancing 0.2 cents to 76.958 cents on the dollar by 2:13 p.m. in London. The securities have plunged to a five-month low of 72.794 cents in the immediate aftermath of the Aug. 30 coup.

–With assistance from Baudelaire Mieu.

(Updates with bonds gaining in final paragraph)

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