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Lusa - Business News - Guinea-Bissau: IMF in final Extended Credit Facility assessment




Bissau, Mar. 21 (Lusa) – The International Monetary Fund (IMF) began its fifth and last assessment of the Extended Credit Facility to Guinea-Bissau, which may be prolonged for another year the finance minister, João Fadiá, said on Wednesday.
The $23.5 million (about €21 million) Extended Credit Facility was approved in July 2015.
At the last assessment in January, the IMF applauded the government’s decision to boost public investment in infrastructures but warned that careful management was needed along with appropriate planning and execution and attention to the debt that was generated.
The IMF said that economic activity remained dynamic supported by effective tax management.
Inflation was still low, tax revenues were growing well and the increase in real GDP was close to the 2017 rate of roughly 5.5%.
On the other hand, public and private investment is growing which could be a new driving force for growth, the Fund added.
The IMF team will stay in Bissau until 3 April.
MSE/ADB // ADB.
Lusa


Agency : LUSA

Date : 2018-03-22 08:01:35







 

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