Guinea-Bissau: Request for Disbursement Under the Rapid Credit Facility
IMF Staff Country Reports, November 7, 2014
Source details
- Canonical URL
- Guinea-Bissau: Request for Disbursement Under the Rapid Credit Facility
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Bibliographic details
- Published: November 7, 2014
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498348843.002
Summary and context
- Paper discusses Guinea-Bissau’s Request for Disbursement Under the Rapid Credit Facility (RCF).
- In 2012 and 2013, Guinea-Bissau suffered a severe balance of payments shock as the international price of raw cashew nuts—the main export product—fell by about 20 percent per year.
- The authorities requested assistance under the RCF to help address the urgent balance of payments and fiscal financing needs for 2014.
IMF staff position and rationale
- IMF staff supports the authorities’ request for assistance under the RCF because of:
- the authorities’ currently limited capacity to implement policies of an upper credit tranche-quality economic program,
- the large and urgent balance of payments need, and
- the catalytic effect of IMF support for other external financing.
Key findings and focal areas
- The balance of payments shock was driven by a decline in the international price of raw cashew nuts.
- Urgent fiscal financing needs were identified for 2014.
- Areas of subject focus include:
- Budget planning and preparation
- Economic and financial statistics
- External debt
- Government finance statistics
- Public debt
- Public financial management (PFM)
Content in this bundle
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