Guinea-Bissau: First and Second Reviews Under the Extended Credit Facility Arrangement, Request for Rephasing of Disbursements, Modification of Performance Criteria and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Guinea-Bissau

December 28, 2016

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Format: Chicago

Guinea-Bissau: First and Second Reviews Under the Extended Credit Facility Arrangement, Request for Rephasing of Disbursements, Modification of Performance Criteria and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Guinea-Bissau, (USA: International Monetary Fund, 2016) accessed December 21, 2024

Summary

This paper discusses Guinea-Bissau’s First and Second Reviews Under the Extended Credit Facility (ECF) arrangement, Request for Rephasing of Disbursements, Modification of Performance Criteria, and Financing Assurances Review. All performance criteria for the first and second reviews were met. The IMF staff discussions with the authorities focused on measures to fill the 2016 financing gap that resulted from the loss of budget support and steps to reignite structural reforms. The authorities undertook remedial measures, including declaring the bank bailout operation null and void and measures to address weaknesses in public financial management. The IMF staff supports completion of the first and second reviews under the ECF arrangement and the authorities’ requests for modification of performance criteria and rephasing of disbursements.

Subject: Arrears, Expenditure, External debt, Public financial management (PFM), Revenue administration, Tax administration core functions

Keywords: Arrears, Bissau Guinean authorities, CR, Disbursement of SDR, ECF-supported program, Government, Guinea-Bissau's arrangement, ISCR, Strengthening of public finance management, Tax administration core functions, West Africa, West AFRITAC

Publication Details

Pages:

88
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/384
Stock No:

1GNBEA2016001
ISBN:

9781475561678
ISSN:

1934-7685

Notes

Also Available in Portuguese

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