Guinea-Bissau: Seventh Review Under the Extended Credit Facility and Request for Modification of Performance Criteria and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Guinea-Bissau

Volume/Issue: Volume 2024 Issue 353

Publication date: December 2024

ISBN: 9798400296703

$20.00

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Topics covered in this book

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Exports and Imports , Economics- Macroeconomics , Public Finance , Budget planning and preparation , Debt sustainability , Fiscal consolidation , Government debt management , Debt sustainability analysis , Debt service , Arrears , Exports

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Grenada

Republic of Congo : 2001 Article IV

Summary

Guinea-Bissau continues to face a challenging economic and political environment. Recent downward shocks to cashew exports are adding pressures to the balance of payments and fiscal revenue. Tightening of regional financial conditions continue to raise borrowing costs. Since the political crisis in December 2023, underlying social tension has been high, and the next legislative election has been postponed to complete preparatory steps required by law. Despite these challenges, growth has been resilient, supported by strong public and private investments, and high producer prices of cashew nuts due to increased competition among exporters and strengthened securities measures. Risks to the outlook remain tilted towards the downside.