Guinea Bissau: IMF in Bissau to evaluate country’s economic framework

21 November 2008

Bissau, Guinea Bissau, 21 Nov – A mission from the International Monetary Fund (IMF) to assess the development of Guinea Bissau’s macroeconomic framework and the General State Budget for 2009, officials said.

According to a source from the office of the Guinean Finance Minister, the IMF mission, which is expected to remain in Bissau until 4 December, will discuss, “progress in implementation,” of the Emergency Post-Conflict Assitance Programme (EPCA).

The programme, which has quarterly targets, was agreed with the Guinean authorities at the beginning of this year, with a view to analysing the macroeconomic performance of Guinea Bissau, under the terms of which the IMF will free up funding to support the country’s budget.

The IMF mission will also instigate discussions with the Guinean government to sign a deal for a three-year growth and poverty reduction programme in Guinea Bissau.

The IMF’s visit is part of the harmonisation of relations between Bissau and the world financial institution, which began at the end of 2007, following five years of no relations. (macauhub)