Guinea-Bissau Finance Minister João Fadi announced that the International Monetary Fund (IMF) on Wednesday launched the fifth and final assessment of the Expanded Credit Programme to Guinea-Bissau, which could be extended for another year.
“This is the fifth and final evaluation of the programme that was signed with the International Monetary Fund. After this assessment, if the targets are met, there will be a US$3.03 million Special Drawing Rights disbursement in line with the schedule,” said João Fadia.
According to the minister, the current mission will also discuss the possibility of extending the programme for another year.
The US$23.5 million Extended Credit Programme was approved in July 2015.
In its latest assessment in January, the IMF applauded the Guinean government’s decision to increase public investment in infrastructure, but stressed that “careful management,” “proper planning and execution,” and attention to debt are needed.
The IMF also considered that “economic activity remains dynamic, supported by effective fiscal management. Inflation has remained low, fiscal revenue is growing robustly, and real GDP growth remains close to the pace of 2017, at around 5.5%.”
The IMF team will be in Bissau until 3 April. (macauhub)