IMF mission travels to Guinea Bissau to assess public accounts

22 May 2007

Bissau, Guinea Bissau, 22 May – A delegation from the International Monetary Fund (IMF) will carry out an assessment of Guinea Bissau’s public accounts on Wednesday and on June 6, the Guinean Finance Minister said in Bissau Monday.

Speaking to Portuguese news agency Lusa, Issuf Sanhá said that the IMF delegation would arrive in Bissau Wednesday aiming to analyse Guinea Bissau’s situation in detail and potentially sign a reference program.

Guinea Bissau has had no reference program set up with the IMF or the World Bank for the last seven years due to alleged irregularities in the country’s economic policy.

The mission now travelling to Bissau will evaluate, along with the new Finance Minister, for example, the development of revenue and expenses in 2006 and how it will be possible to finance the budget deficit from the last few years.

The IMF mission will pay particular attention to the public accounts situation up to April 2007, when the government of Aristides Gomes stepped down.

According to Sanhá, the future healthy relationship between Guinea Bissau and international financial institutions depends on the assessment made by the IMF mission.

Last week the World Bank ended an assessment mission, focusing on several programs it finances in Guinea Bissau, namely in the power sector, Public Administration reforms, and education amongst other areas. (macauhub)