Guinea Bissau economy to see growth of 3.5 pct in 2010 and almost 4 pct in 2011, IMF says

19 November 2009

Bissau, Guinea Bissau, 19 Nov – The Guinea Bissau economy is expected to post growth of 3.5 percent in 2010 and close to 4 percent in 2011, the head of the mission of the International Monetary Fund (IMF), Paulo Drummond said in Bissau Wednesday.

An IMF delegation has been in Guinea Bissau since 5 November to assess the country’s performance in the programme supported by Emergency Post-Conflict Assistance and to analyse the prospects for the start of discussions of a new agreement under the terms of the Extended Credit Facility.

According to the mission’s first conclusions, as well as economic growth, the Government had seen “satisfactory fiscal performance” in 2009, and tax revenues exceeded expectations.

The IMF noted, however, that the Guinean government had to work more quickly to apply structural reforms, namely the reform of public treasury management. (macauhub)