Guinea: Third Review Under the Extended Credit Facility Arrangement, Request for Modification of Performance Criterion and Financing Assurances Review-Press Release; Staff Report; Supplementary Information; and Statement by the Executive Director for Guinea

August 23, 2019

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Guinea: Third Review Under the Extended Credit Facility Arrangement, Request for Modification of Performance Criterion and Financing Assurances Review-Press Release; Staff Report; Supplementary Information; and Statement by the Executive Director for Guinea, (USA: International Monetary Fund, 2019) accessed November 23, 2024

Also available in: français

Summary

This paper discusses Guinea’s Third Review Under the Extended Credit Facility Arrangement, Request for Modification of Performance Criterion and Financing Assurances Review. Performance against end-December 2018 targets was satisfactory. All performance criteria and the indicative target (IT) on social safety net spending were met. A strong package of adjustment measures was implemented to achieve the end-2018 fiscal target. The ITs on tax revenue and the accumulation of new domestic arrears were not met. Program performance was satisfactory at end-March 2019, with most ITs met. Program-supported reforms advanced. Two of the four structural benchmarks were met, with substantial progress on the other two and full completion expected by. Additional adjustment measures are expected to be implemented to achieve a basic fiscal surplus in 2019, compensating for anticipated higher electricity subsidies and lower tax revenue. In parallel, public investment will be scaled-up to support growth. Advancing programmed tax measures and applying the petroleum prices adjustment mechanism will be key to support revenue mobilization.

Subject: Banking, Energy subsidies, Expenditure, External debt, Public debt, Public investment and public-private partnerships (PPP), Revenue administration

Keywords: Center, CR, Debt, ECF arrangement, End-June target, Energy subsidies, Global, Growth momentum, Guinean authorities, ISCR, Net basis, Private sector, Public investment and public-private partnerships (PPP), Staff appraisal, Support private sector development

Publication Details

Pages:

121
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/275
Stock No:

1GINEA2019004
ISBN:

9781513511870
ISSN:

1934-7685

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