Guinea- Bissau : 2017 Article IV Consultation and Fourth Review Under the Extended Credit Facility Arrangement, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Guinea-Bissau

Author/Editor:

International Monetary Fund. African Dept.

Publication Date:

December 18, 2017

Electronic Access:

Free Full Text (PDF file size is 2146 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Background: The three-year arrangement under the Extended Credit Facility (ECF) was approved on July 10, 2015. Guinea-Bissau obtained a primary disbursement (SDR 2.84 million, 10 percent of quota) upon approval of the arrangement and additional disbursements (totaling SDR 8.14 million, 29 percent of quota) following approval of the combined first and second review on December 2, 2016, and the third review on July 6, 2017. Context: A fragile state, Guinea-Bissau has seen a strong pickup in economic activity since 2014, despite continued political tensions and reduced external financial assistance. Growth has been supported by a calm security situation and favorable terms of trade developments. Political tensions resulted in multiple changes of government during 2015–16 and Parliament has not been sitting since late 2015.