International Monetary fund returns to Guinea Bissau in March

19 January 2011

Washington, United States, 19 Jan – A mission from the International Monetary Fund (IMF) is due to return to Guinea Bissau in March in order to continue with the evaluation of the Guinean government’s programme of reforms, the IMF said in a statement.

According to the statement, the previous mission, which stayed in Guinea Bissau from 10 to 14 January to evaluate the Extended Credit Facility (ECF) agreement, concluded that the country’s economic performance was satisfactory.

The statement also said that the mission, headed up by Paulo Drummond, concluded that that the Guinean authorities had made progress in terms of structural reforms and praised “the efforts of the government to introduce the programme of reforms to increase economic growth and reduce poverty.”

In December 2010 the IMF and the World Bank’s Association for International Development decided to help reduce Guinea Bissau’s foreign debt by US$1.2 billion. (macauhub)