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Credit facility: IMF disburses 53.55 million SDR in favor of Guinea

08/05/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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La Guinée a obtenu un décaissement de 53,55 millions de DTS (environ 71 millions de dollars) de la part du conseil d' administration du Fonds monétaire international (IMF

).

IMF financing is part of the rapid credit facility's exogenous shock window to help meet immediate needs related to the explosion of the Kaloum hydrocarbon deposit on December 18, 2023. In reality, Guinean growth is expected to decelerate to 4.1% in 2024 and rebound to 5.6% in 2025, supported by a resilient mining sector, due to this explosion. According to the Deputy Director General and Acting President, Ms. Gita Gopinath of the institution, “the emergency financial assistance under the rapid credit facility will contribute to meeting the urgent balance of payments needs associated with the explosion of a major fuel import and storage facility at the end of 2023. The urgent needs include those related to the decontamination of the site, assistance to affected persons, households and the reconstruction of buildings, infrastructure and a new fuel depot

.”
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