Guinea: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Guinea

IMF Staff Country Reports, July 16, 2020

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Canonical URL: Guinea: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Guinea

Guinea is being severely affected by the COVID-19 pandemic; a local outbreak is spreading rapidly.
The outbreak is adding pressure to the fragile social context and putting a strain on the health system.
Containment measures have started to negatively impact domestic economic activity.
Since the completion of the fourth ECF review, worsening global conditions and the local outbreak have deteriorated Guinea’s short-term outlook.
Real growth is expected to sharply decelerate to 1.4 percent in 2020.

The sharp slowdown in China (Guinea’s main export market) has hindered mining exports and tax revenues.
Reduced mining exports and tax revenues are putting pressure on Guinea’s external and fiscal position.

The content unit is a combined package: Press Release; Staff Report; and Statement by the Executive Director for Guinea concerning a request for disbursement under the Rapid Credit Facility.
Subjects listed: Asset and liability management; Banking; COVID-19; Debt relief; Debt service; External debt; Financial sector policy and analysis; Health; Public debt; Stress testing.
Keywords listed: COVID-19; CR; Debt relief; emergency financing request; financing; financing gap; Global; Guinean authorities; health emergency; IMF disbursement; IMF lending tracker; ISCR; Stress testing.