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Economic transformation: Guinea falls out of the category of fragile countries

08/01/2024
Source : ORISHAS FINANCE
Categories: Economy/Forex

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After years of effort, Guinea managed to leave the fragile country category in 2023. His remarkable economic transformation led him to reach middle income status.

Guinea's transformation was made possible by a series of significant economic performances and major structural reforms. Indeed, the CPIA Score (Country Policy and Institutional Assessment), used by the African Development Bank (BAD) and the World Bank to assess the quality of a country's policies and institutions, is one of the key indicators that contributed to this rise. The repayment of advances from the Central Bank of the Republic of Guinea (BCRG), the appreciation of the exchange rate, and the effective management of the impact of global inflation have also played a crucial role in this transformation. Guinea sees a promising future, with fiscal revenues constantly increasing, reaching over 37 trillion GNF in 2024

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