IMF mission in Guinea Bissau to assess the country

9 June 2011

Bissau, Guinea Bissau, 9 June – A mission from the International Monetary Fund (IMF) began a visit to Guinea Bissau Wednesday to assess the country’s situation, during which it is due to meet with several members of the Guinean government and with Prime Minister Carlos Gomes Júnior.

The IMF staff are set to analyse the fiscal performance, the calendar of structural reforms, budgetary execution over the year and to start work on the State Budget for 2012.

On its previous visit to the country, in March, the IMF considered that Guinea Bissau, “has continued to make progress in stabilising the economy.”

“It is estimated that economic growth (in 2010) totalled around 3.5 percent, supported by recovery of the price of cashew exports and an upturn in the construction sector,” the IMF said.

In December, Guinea Bissau benefitted from debt relief under the terms of Initiative for Highly Indebted Poor Countries worth US$1.2 billion. (macauhub)