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Washington, DC – December 16, 2024 : The Executive Board of the International Monetary Fund (IMF) completed today the seventh review under Guinea-Bissau’s Extended Credit Facility (ECF) arrangement. The three-year arrangement, approved on January 30, 2023, aims to secure debt sustainability, improve governance, and reduce corruption while creating fiscal space for inclusive growth. The Executive Board granted an augmentation of access (140 percent of quota or SDR 39.76 million) on November 29, 2023.

A team from the International Monetary Fund (IMF) led by Niko Hobdari, Mission Chief for Guinea Bissau, held meetings in Bissau during October 29 - November 6, 2024 to discuss macroeconomic policies in the context of the Seventh Review of the ECF arrangement.

To better manage its public sector wage bill, Guinea-Bissau has embraced blockchain technology, a secure digital mechanism that enables tracking and reporting on wage expenditure for civil servants.

The IMF Executive Board today completed the sixth review under the Extended Credit Facility (ECF) for Guinea-Bissau. This decision allows for an immediate disbursement of SDR5.44 million (about US$7.3 million) to help meet the country’s financing needs.

Washington, DC, July 8, 2024: With the successful launch of a new data portal—the National Summary Data Page — Guinea-Bissau has implemented a key recommendation of the IMF’s Enhanced General Data Dissemination System (e-GDDS) to publish essential macroeconomic and financial data. The e-GDDS is the first tier of the IMF Data Standards Initiatives, which aim to promote transparency as a global public good and encourage countries to voluntarily publish timely data essential for monitoring and analyzing economic performance.

The IMF and Guinea Bissau have reached staff-level agreement on economic policies that could support the sixth review of the Extended Credit Facility (ECF). Once the review is approved by IMF Management and completed by the IMF Executive Board, Guinea Bissau will have access to about US$ 7.2 million.

: A capacity development mission led by Concha Verdugo -Yepes, Senior Economist in the IMF African Department and project manager, is visiting Bissau from May 27 to May 31, to participate in the official launch of the “blockchain solution to strengthen the transparency of the wage bill management at the Ministries of Finance and Public Administration” on May 29.

The Executive Board of the International Monetary Fund (IMF) completed today the fourth and fifth reviews under Guinea-Bissau’s Extended Credit Facility (ECF) arrangement.

The Executive Board of the International Monetary Fund (IMF) on March 15, 2024, concluded the annual discussions on common policies of member countries of the West African Economic and Monetary Union (WAEMU) .

IMF staff and the Guinea Bissau authorities have reached staff-level agreement on economic policies that could support the fourth and fifth reviews of the Extended Credit Facility (ECF) arrangement. Once the review is approved by IMF Management and completed by the IMF Executive Board, Guinea Bissau will have access to an additional SDR 6.17 million (about US$ 8.2 million).