{
  "title": "Guinea: 2011 Article IV Consultation and Requests for a Three-Year Arrangement Under the Extended Credit Facility, and for Additional Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries—Staff Report; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Guinea",
  "publication": "IMF Staff Country Reports, March 26, 2012",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/guinea-2011-article-iv-consultation-and-requests-for-a-three-year-arrangement-under-the-25800",
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  "summary": "This paper presents Guinea’s 2011 Article IV Consultation and requests for a three-year arrangement under the Extended Credit Facility. The macroeconomic improvement in 2011 has been mainly owed to sharp fiscal adjustment.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Paper presents Guinea’s 2011 Article IV Consultation and requests for a three-year arrangement under the Extended Credit Facility, and for additional interim assistance under the Enhanced Initiative for Heavily Indebted Poor Countries.\n- Macroeconomic improvement in 2011 has been mainly owed to sharp fiscal adjustment."
    },
    {
      "heading": "Macroeconomic developments and key statistics",
      "content": "- Deficit on the budget’s basic balance reduced from 13 percent of GDP in 2010 to an estimated 2.5 percent of GDP in 2011.\n- Monetary financing of the budget was avoided to reduce excess liquidity stemming from large central bank advances in 2009–10."
    },
    {
      "heading": "Fiscal and monetary policy actions",
      "content": "- Sharp fiscal adjustment was the principal driver of macroeconomic improvement in 2011.\n- Avoidance of monetary financing aimed to contain excess liquidity originating from central bank advances in 2009–10."
    },
    {
      "heading": "Medium-term challenges and policy priorities",
      "content": "- Reduce inflation.\n- Prepare the economy for an expected substantial increase in mining activity."
    },
    {
      "heading": "Subject areas and keywords (as provided)",
      "content": "- Subject: Arrears, Banking, Debt burden, Economic sectors, External debt, Mining sector, Public debt\n- Keywords: Africa, Arrears, authority, CR, Debt burden, electricity company, financing, Global, government, government contract, Guinean authorities, IMF staff, ISCR, Mining sector, Paris Club creditor, Sub-Saharan Africa\n\nIMF Staff Country Report No. 2012/063; March 26, 2012; Pages: 134; DOI: https://doi.org/10.5089/9781475502602.002; ISBN: 9781475502602\n\n---\n\n Content in this bundle\n\n- cr1263\n  - cr1263 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr1263 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: March 26, 2012",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475502602.002",
    "Paper presents Guinea’s 2011 Article IV Consultation and requests for a three-year arrangement under the Extended Credit Facility, and for additional interim assistance under the Enhanced Initiative for Heavily Indebted Poor Countries.",
    "Macroeconomic improvement in 2011 has been mainly owed to sharp fiscal adjustment.",
    "Deficit on the budget’s basic balance reduced from 13 percent of GDP in 2010 to an estimated 2.5 percent of GDP in 2011.",
    "Monetary financing of the budget was avoided to reduce excess liquidity stemming from large central bank advances in 2009–10.",
    "Sharp fiscal adjustment was the principal driver of macroeconomic improvement in 2011.",
    "Avoidance of monetary financing aimed to contain excess liquidity originating from central bank advances in 2009–10.",
    "Reduce inflation.",
    "Prepare the economy for an expected substantial increase in mining activity.",
    "Subject: Arrears, Banking, Debt burden, Economic sectors, External debt, Mining sector, Public debt",
    "Keywords: Africa, Arrears, authority, CR, Debt burden, electricity company, financing, Global, government, government contract, Guinean authorities, IMF staff, ISCR, Mining sector, Paris Club creditor, Sub-Saharan Africa",
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