Gabon earned a poor reputation with the Paris Club and the International Monetary Fund (IMF) over the management of its debt and revenues. Successive IMF missions have criticized the government for overspending on off-budget items (in good years and bad), over-borrowing from the Central Bank, and slipping on the schedule for privatization and administrative reform. However, in September 2005 Gabon successfully concluded a 15-month Stand-By Arrangement with the IMF. Another 3-year Stand-By Arrangement with the IMF was approved in May 2007. Because of the financial crisis and social developments surrounding the death of President Omar Bongo and the elections, Gabon was unable to meet its economic goals under the Stand-By Arrangement in 2009. Negotiations with the IMF were ongoing.