Spain provides 1.5 million euros in budgetary aid to Guinea Bissau

17 February 2010

Bissau, Guinea Bissau, 17 Feb – The Spanish ambassador to Guinea Bissau, Angel Ballesteros Garcia, Thursday gave Guinean Finance Minister, Mário Vaz, budgetary aid of 1.5 million euros.

“We are always available to contribute to development,” said the Spanish diplomat noting the “excellent work” that the Guinean government had done to consolidate public accounts, which will make it possible to meet the targets set by the International Monetary Fund (IMF) for budgetary stability.

The Guinean finance minister said that the Spanish aid would help the government to overcome the difficult financial situation expected in the first quarter of this year due to payment of debts.

Vaz also said that the government’s main aims for 2010 were the pardon of over 50 percent of the country’s foreign debt and support for the private sector. (macauhub)