{
  "title": "Guinea-Bissau: Request for Disbursement Under the Rapid Credit Facility",
  "publication": "IMF Staff Country Reports, November 7, 2014",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/guinea-bissau-request-for-disbursement-under-the-rapid-credit-facility-42443",
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  "summary": "This 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.",
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    {
      "heading": "Summary and context",
      "content": "- Paper discusses Guinea-Bissau’s Request for Disbursement Under the Rapid Credit Facility (RCF).\n- 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.\n- The authorities requested assistance under the RCF to help address the urgent balance of payments and fiscal financing needs for 2014."
    },
    {
      "heading": "IMF staff position and rationale",
      "content": "- IMF staff supports the authorities’ request for assistance under the RCF because of:\n  - the authorities’ currently limited capacity to implement policies of an upper credit tranche-quality economic program,\n  - the large and urgent balance of payments need, and\n  - the catalytic effect of IMF support for other external financing."
    },
    {
      "heading": "Key findings and focal areas",
      "content": "- The balance of payments shock was driven by a decline in the international price of raw cashew nuts.\n- Urgent fiscal financing needs were identified for 2014.\n- Areas of subject focus include:\n  - Budget planning and preparation\n  - Economic and financial statistics\n  - External debt\n  - Government finance statistics\n  - Public debt\n  - Public financial management (PFM)\n\n---\n\n Content in this bundle\n\n- cr14318\n  - cr14318 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr14318 (PDF){rel=\"external\" type=\"application/pdf\"}\n- cr14318p\n  - cr14318p (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr14318p (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: November 7, 2014",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781498348843.002",
    "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 supports the authorities’ request for assistance under the RCF because of:",
    "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:",
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