IMF says Guinea Bissau needs an economic growth rate of 7 or 8 percent

23 August 2006

Bissau, Guinea-Bissau, 23 Aug – The International Monetary Fund (IMF) said that Guinea Bissau needs a Gross Domestic Product (GDP) growth rate of seven or eight percent to be able to re-launch the country’s economy, news agency PanaPress reported.

FMI director Damian Ondo Manhe, who spoke at the end of a meeting with the president João Bernardo “Nino” Vieira, said that the current growth rate of between 3.2 and 4.5 percent is insufficient to fight poverty and help rebuild the country following the civil war.

Damian Manhe also said that Guinea Bissau should work on attracting external investments to increase GDP. (macauhub)