IDEAS home Printed from https://ideas.repec.org/p/imf/imfscr/2021-172.html
   My bibliography  Save this paper

Guinea-Bissau: Request for a Nine-Month Staff Monitored Program-Press Release; and Staff Report

Author

Listed:
  • International Monetary Fund

Abstract

Guinea-Bissau is a fragile state with considerable needs to fight the COVID-19 pandemic and address developmental challenges. After an estimated 1.4 percent of GDP contraction in 2020, a modest recovery of about 3.3 percent is projected for 2021 on the back of higher cashew exports, the gradual lifting of COVID containment measures and a more stable political situation. The outlook is subject to considerable uncertainty. An RCF disbursement of SDR 14.2 million (50 percent of quota) was approved in January to provide urgent financing (35 percent of the external gap in 2021) to support critical spending in health and catalyze additional donor resources. The RCF followed two years of protracted political turmoil and delays in reforms, now undertaken by the new government. Public debt was assessed as sustainable in a forward-looking sense based on the authorities’ commitment to sound policies supported by strong donor engagement and a Fund program. Debt service relief under the CCRT has provided some fiscal space and the country’s participation in the DSSI should also help mobilize additional resources. After the 2021 budget approval within the statutory deadlines, significant and sustained reform efforts are required to meet the WAEMU 3 percent of GDP overall balance criteria by 2025 and bring public debt-to-GDP ratio within 70 percent by end-2026.

Suggested Citation

  • International Monetary Fund, 2021. "Guinea-Bissau: Request for a Nine-Month Staff Monitored Program-Press Release; and Staff Report," IMF Staff Country Reports 2021/172, International Monetary Fund.
  • Handle: RePEc:imf:imfscr:2021/172
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=463111
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfscr:2021/172. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.