IMF projects GDP growth of 2.7 pct in Guinea Bissau in 2014

30 July 2014

The International Monetary Fund (IMF) projects that Guinea Bissau’s Gross Domestic Product (GDP) will post growth of 2.7 percent in 2014, which is nine times more than the 0.3 percent growth seen in 2013, the head of the IMF mission, following a seven-day visit to the country, said Tuesday in Bissau.

“Economic activity is expected to accelerate this year in the context of better cashew export prices and re-establishing support from international partners,” said Maurício Villafuerte.

In September a new mission is due to travel to Bissau to prepare an aid programme for Guinea Bissau after the last IMF loan, of around 3 million euros for the 2011-2013 period, was interrupted by the 2012 military coup.

“To provide Guinea Bissau with financial aid a new loan will have to be designed based on the mid-term programme the government is preparing,” said Villafuerte. (macauhub/GW)