## Guinea-Bissau: 2002 Article IV Consultation–Staff Report

_IMF Staff Country Reports, July 26, 2002_

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## Bibliographic details
- Published: July 26, 2002
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451815757.002

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### Summary findings
- In 2001, Guinea–Bissau suffered a substantial slowdown in economic activity, with real GDP growth estimated at 0.2 percent.
- Contributing factors identified:
  - A sizable loss of foreign program financing.
  - A drop in the international market prices for cashew nuts of about 30 percent.
  - Delays in implementing the demobilization and pre-2000 domestic arrears settlement programs and receiving the concomitant disbursements.
- Delays in implementing required structural reforms have contributed significantly to Guinea–Bissau’s current difficulties.

### Key thematic areas and implications
- Arrears and debt:
  - Pre-2000 domestic arrears settlement program delayed, affecting fiscal and external financing dynamics.
- External shocks:
  - Cashew nut price decline of about 30 percent had a material negative effect on export earnings and overall activity.
- Financing and fiscal space:
  - Loss of foreign program financing reduced available resources for stabilization and reform implementation.
- Structural reforms:
  - Slow implementation of required structural reforms exacerbated economic weakness and constrained recovery prospects.

### Publication metadata (as provided)
- Publication title: Guinea-Bissau: 2002 Article IV Consultation–Staff Report
- Date: July 26, 2002
- Pages: 53
- Volume: 2002
- Issue: 153
- Series: Country Report No. 2002/153
- DOI: https://doi.org/10.5089/9781451815757.002
- Stock No: 1GNBEA0032002
- ISBN: 9781451815757
- ISSN: 1934-7685
- Subjects: Arrears, Commercial banks, Debt relief, External debt, Financial institutions, Poverty, Poverty reduction strategy, Revenue administration
- Keywords: April revenue collection, Arrears, CFAF, Commercial banks, CR, deteriorating government finances, excl. grant, expenditure priority policy, government finances, ISCR, Poverty reduction strategy, revenue constraint, wage bill, West Africa

*International Monetary Fund. "Guinea-Bissau: 2002 Article IV Consultation–Staff Report", IMF Staff Country Reports 2002, 153 (2002).*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/guinea-bissau-2002-article-iv-consultationstaff-report-15973_