## Guinea: Third Review Under the Extended Credit Facility Arrangement, Request for Modification of Performance Criterion and Financing Assurances Review-Press Release; Staff Report; Supplementary Information; and Statement by the Executive Director for Guinea

_IMF Staff Country Reports, August 23, 2019_

## Source details

**Canonical URL:** [Guinea: Third Review Under the Extended Credit Facility Arrangement, Request for Modification of Performance Criterion and Financing Assurances Review-Press Release; Staff Report; Supplementary Information; and Statement by the Executive Director for Guinea](https://www.imf.org/en/publications/cr/issues/2019/08/22/guinea-third-review-under-the-extended-credit-facility-arrangement-request-for-modification-48608)

## Other formats

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## Bibliographic details
- Published: August 23, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513511870.002

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### Executive summary and program performance
- Performance against end-December 2018 targets was satisfactory.
- All performance criteria and the indicative target (IT) on social safety net spending were met.
- The ITs on tax revenue and the accumulation of new domestic arrears were not met.
- Program performance was satisfactory at end-March 2019, with most ITs met.
- Program-supported reforms advanced.
- Two of the four structural benchmarks were met, with substantial progress on the other two and full completion expected by.

### Fiscal policy, adjustment measures, and public investment
- A strong package of adjustment measures was implemented to achieve the end-2018 fiscal target.
- Additional adjustment measures are expected to be implemented to achieve a basic fiscal surplus in 2019, compensating for:
  - anticipated higher electricity subsidies
  - lower tax revenue
- In parallel, public investment will be scaled-up to support growth.

### Revenue mobilization and tax measures
- Advancing programmed tax measures will be key to support revenue mobilization.
- Applying the petroleum prices adjustment mechanism will be key to support revenue mobilization.

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_Source: https://www.imf.org/en/publications/cr/issues/2019/08/22/guinea-third-review-under-the-extended-credit-facility-arrangement-request-for-modification-48608_