Guinea Bissau: IMF mission arrives Thursday in Bissau to assess Government performance

7 May 2008

Bissau, Guinea Bissau, 7 May – A mission from the International Monetary Fund (IMF) is due to arrive in Bissau Thursday to asses the government’s performance within the scope of the Emergency Post-conflict assistance programme approved in January, the Guinean Finance Ministry said in January.

According to a statement issued in Bissau, the mission, which is expecetd to remain in teh country until 22 May, will confirm fiscal execution for 2007 and the level of outstanding debt to retail banks.

In January the IMF approved the Emergency Post-Conflict Assistance Program (EPCA) for Guinea Bissau, which allowed the country to re-launch regular cooperation with the international financial community.

Approval of the programme with the IMF made it possible to release a US$5.6 million budgetary aid package, of which US$.8 million has already been paid out.

During this visit by the IMF, the Guinean authorities are expected to negotiate the release of the remaining funding, the Finance Ministry statement said. (macauhub)