Guinea-Bissau governance vulnerabilities under review by the IMF

19 September 2019

A team from the International Monetary Fund (IMF) is in Guinea-Bissau to assess the vulnerabilities of the country’s governance, the Finance Minister announced on Wednesday in Bissau.

“It is a mission that will address various issues, including those related to fiscal risk, transparency in public account management, macroeconomics, structural reforms and, therefore, is a very important mission for the country,” said Minister Geraldo Martins.

The finance minister was speaking at the Government Palace at the beginning of a meeting with the IMF team, which brought together all the ministers and secretaries of state of the current Guinean government, according to Portuguese news agency Lusa.

A document issued by the team that will remain in Guinea-Bissau until early October showed that this mission’s main objectives are to assess the nature and severity of governance vulnerabilities in Guinea-Bissau in terms of fiscal governance and legislation, including anti-corruption, money laundering law and the rule of law.

The IMF team will also make recommendations to improve tax governance and legislation and to set out a medium-term strategy to provide Guinea-Bissau with a possible financial support programme.

The mission will place particular emphasis on combating corruption, in particular by identifying the main threats and weaknesses, types of corruption and priorities.

An International Monetary Fund mission headed by Tobias Rasmussen visited Guinea-Bissau from 6 to 10 May 2019 to assess the state of public finance, discuss developments in the financial sector and assess the authorities’ interest in a new agreement with the IMF. (Macauhub)