IMF Staff Country Reports

Guinea-Bissau: Sixth Review Under the Extended Credit Facility, Request for a Waiver of Nonobservance of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Guinea-Bissau

September 16, 2024

Download PDF More Formats on IMF eLibrary Order a Print Copy
More formats on IMF eLibrary Order a Print Copy

Preview Citation

Format: Chicago

International Monetary Fund. African Dept. "Guinea-Bissau: Sixth Review Under the Extended Credit Facility, Request for a Waiver of Nonobservance of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Guinea-Bissau", IMF Staff Country Reports 2024, 295 (2024), accessed December 21, 2024, https://doi.org/10.5089/9798400288050.002

Export Citation

  • ProCite
  • RefWorks
  • Reference Manager
  • BibTex
  • Zotero
  • EndNote

Also available in: português

Summary

This paper presents Guinea-Bissau’s Sixth Review under the Extended Credit Facility (ECF), Request for a Waiver of Nonobservance of Performance Criteria, and financing assurances review. The authorities’ commitment to a range of challenging policy reforms is starting to show some results. They should persevere with their ambitious structural reform agenda to improve domestic revenue mobilization, strengthen expenditure controls, and enhance governance. Economic growth is expected to reach 5 percent in 2024, while inflation should slow to 4.2 percent compared to 7.2 percent in 2023. However, the economic outlook remains subject to significant near-term risks. Fiscal consolidation remains critical to reduce vulnerabilities and ensure debt sustainability and macroeconomic stability. This should be underpinned by strict rationalization of nonpriority expenditure and revenue mobilization. The authorities are implementing structural reforms which are pivotal to the program’s success. Urgent actions should be taken to mitigate fiscal risks from the public utility company. The authorities should also continue advancing the disengagement of the undercapitalized bank, including through contingency planning.

Subject: Arrears, Debt service, Expenditure, External debt, Public debt, Revenue administration

Keywords: Arrears, Debt service

Publication Details

You May Also Be Interested In...

How Has Dollarization Served Timor-Leste So Far?

December 20, 2024

Chasing the Dream: Industry-Level Productivity Developments in Europe

December 20, 2024

Ukraine: Sixth Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Modification of a Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Ukraine

December 20, 2024

Islamic Republic of Mauritania: Staff Report for the 2024 Article IV Consultation, Third Review Under the Arrangements Under the Extended Credit Facility and Extended Fund Facility, Request for Modification of Quantitative Performance Criteria, and Second Review Under the Resilience and Sustainability Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for the Islamic Republic of Mauritania

December 20, 2024