Source: International Monetary Fund (IMF) |

IMF Management Completes Second Review of the Staff-Monitored Program with Guinea Bissau

The authorities have made satisfactory progress on their reform program at end-September 2021 despite difficult socio-economic conditions compounded by the COVID-19 pandemic

IMF Management has approved the second review of Guinea Bissau’s Staff-Monitored Program (SMP), which supports the government’s program of reforms aimed at supporting macroeconomic stability and debt sustainability, strengthening social policies, and enhancing public governance. The authorities have made satisfactory progress toward establishing a strong track record of policy and…

Source: International Monetary Fund (IMF) |

IMF Staff Completes Mission for the Second Review of a Staff-Monitored Program to Guinea Bissau

The review aimed at assessing the efforts being undertaken to build a policy track record towards an Extended Credit Facility (ECF) arrangement in 2022

Progress on the Staff-Monitored Program (SMP) reform agenda has continued since the first review in October 2021; Strengthening revenue mobilization and the yield of new taxes and ensuring expenditure containment remain essential to buttress debt sustainability and to support social and pro-growth spending; Macroeconomic stabilization, strong governance and transparency measures…

Source: International Monetary Fund (IMF) |

IMF Management Completes First Review of the Staff-Monitored Program with Guinea Bissau

Growth has been revised upwards in 2020 and is projected to accelerate to 3¾ percent in 2021

IMF Management has approved the first review of Guinea Bissau’s Staff-Monitored Program (SMP), which supports the government’s program of reforms aimed at supporting macroeconomic stability and debt sustainability, strengthening social policies, and enhancing public governance; The authorities have made satisfactory progress toward establishing a strong track record of policy and…

Source: International Monetary Fund (IMF) |

IMF Staff Completes Virtual Mission for the First Review of a Staff-Monitored Program to Guinea Bissau

The review is aimed at assessing the efforts being undertaken to build a policy track record towards a possible Extended Credit Facility (ECF) arrangement in 2022

Progress on the Staff-Monitored Program (SMP) reform agenda has been satisfactory despite difficult socio-economic conditions compounded by the COVID-19 pandemic; Ensuring revenue mobilization and expenditure containment, including in the wage bill, will help to create room for spending on critical social and pro-growth areas, and to buttress debt sustainability; Strict…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes Visit to Guinea-Bissau

Guinea-Bissau faces deeply-rooted problems of weak governance and corruption, which need to be addressed to allow Guinea-Bissau to realize its economic potential

At the request of Guinea-Bissau’s authorities, an International Monetary Fund (IMF) mission, led by Ms. Concha Verdugo-Yepes, visited Bissau from September 18 to October 1, 2019 to carry out a preliminary diagnostic of weaknesses in fiscal governance, market regulation, anti-money laundering and anti-corruption policies and practices. At the end of…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff concludes visit to Guinea-Bissau

Achieving budget targets will require tight expenditure control

Economic performance in 2018 suffered from lower cashew income and weak domestic revenue mobilization; the draft budget for 2019 targets increased government revenue and a deficit below 3 percent of GDP; achieving budget targets will require tight expenditure control. An International Monetary Fund (IMF) team led by Tobias Rasmussen visited…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Mission to Guinea-Bissau for Extended Credit Facility (ECF) Review and Request for Program Extension

Upon approval, drawings of SDR 3.028 million (about US$4.4 million) would become available to Guinea-Bissau

Growth has remained strong and the fiscal position has improved markedly. The authorities have requested a one-year extension of the ECF-supported program. Discussions focused on mobilizing revenue to enable priority spending. An International Monetary Fund (IMF) team led by Tobias Rasmussen visited Guinea-Bissau from March 21 to April 3, 2018,…

Source: International Monetary Fund (IMF) |

International Monetary Fund Staff Concludes Visit to Guinea-Bissau

Real GDP growth appears continuing near the 2017 pace of around 5.5 percent

An International Monetary Fund (IMF) team led by Tobias Rasmussen visited Guinea-Bissau from January 17-23, 2018, to evaluate the draft 2018 budget, assess the fiscal and debt implications of an intended scaling up of infrastructure investments, and discuss recent developments in the banking sector. At the end of the visit,…

Source: International Monetary Fund (IMF) |

The International Monetary Fund Executive Board Completes Fourth Review Under the Extended Credit Facility Arrangement, Approves US$ 4.3 Million Disbursement, and Concludes 2017 Article IV Consultation with Guinea-Bissau

The ECF-supported program aims to restore macroeconomic stability, promote efficiency in public service delivery, and foster inclusive growth

Completion of the fourth ECF review enables the disbursement of SDR 3.03 million (about US$ 4.3 million). The ECF-supported program aims to restore macroeconomic stability, promote efficiency in public service delivery, and foster inclusive growth. The Executive Board also concluded the 2017 Article IV Consultation with Guinea-Bissau. The Executive Board…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2017 Article IV and ECF Review Mission to Guinea-Bissau

Real GDP growth for 2017 is now projected at 5.5 percent, with inflation around 2 percent and a broadly balanced external current account

The government’s economic program supported by the IMF is broadly on-track and the mission was able to reach understandings, ad referendum, on policies needed to conclude the fourth ECF review. The discussions in the context of Article IV consultation focused on key medium-term priorities, including actions to durably reinforce public…