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Deterioration of the external environment: IMF authorizes a disbursement of about 3.15 million dollars to Guinea-Bissau

31/08/2023
Source : ORISHAS FINANCE
Categories: Sectors

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With the aim of helping Guinea-Bissau meet financing needs and cope with the deteriorating external environment, the decision of the IMF Executive Board authorizes an immediate disbursement of SDR 2.37 million (approximately $3.15 million).

Guinea-Bissau's economy grew by 4.2% in 2022 and is expected to recover moderately to 4.5% in 2023, while inflation is expected to remain high. Growth has been negatively affected by the weakness of cashew nut exports and by the adverse external shocks that are weighing on Guinea-Bissau's socio-economic environment. Revenue mobilization and expenditure control remain essential to prevent risks to debt sustainability and access to external finance.

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