IMF, Guinea Bissau reach agreement

The International Monetary Fund (IMF) and Guinea-Bissau have reached a staff-level agreement on economic policies for the sixth review of the Extended Credit Facility (ECF).

Pending final approval, this agreement could release approximately $7.2 million in financial assistance. The IMF discussions in Guinea Bissau focused on macroeconomic policies. Moreover, the IMF stated that Guinea Bissau’s economic outlook anticipates 5 per cent growth in 2024 with inflation decreasing to 4.2 per cent.

The agreement reflects progress in reforms to enhance revenue mobilisation, strengthen expenditure controls, and improve governance amidst ongoing economic challenges.

Attribution: IMF.