## 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](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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## Bibliographic details
- Published: November 7, 2014
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498348843.002

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### 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)

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/guinea-bissau-request-for-disbursement-under-the-rapid-credit-facility-42443_