Guinea-Bissau : Third Review Under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance of Performance Criterion, and Financing Assurances Review-Press Release and Staff Report

Author/Editor:

International Monetary Fund. African Dept.

Publication Date:

July 20, 2017

Electronic Access:

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Summary:

The economic recovery continues, despite ongoing political tensions. The political crisis has led to four changes of government over the past two years, and ECOWAS is calling for decisive implementation of last year’s Conakry Accord for inclusive government. Nonetheless, growth remains strong, and the government continues to improve tax administration and public financial management (PFM) with support of development partners. Following onsite inspections by the WAEMU Banking Commission, there has been progress towards bringing banks affected by the voided bank bailout of 2015 into compliance with prudential norms.

Series:

Country Report No. 17/228