{
  "title": "Guinea-Bissau: Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; and Staff Report",
  "publication": "IMF Staff Country Reports, February 15, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2023/02/14/guinea-bissau-request-for-a-three-year-arrangement-under-the-extended-credit-facility-press-529817",
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  "summary": "This paper presents Guinea-Bissau’s Request for a Three-year Arrangement under the Extended Credit Facility (ECF). The ECF-supported program aims to anchor macroeconomic stability, putting the budget back on track and ensuring medium-term debt sustainability, while continuing progress on structural",
  "sections": [
    {
      "heading": "Overview",
      "content": "- The paper presents Guinea-Bissau’s Request for a Three-year Arrangement under the Extended Credit Facility (ECF).\n- The ECF-supported program aims to:\n  - anchor macroeconomic stability,\n  - put the budget back on track,\n  - ensure medium-term debt sustainability,\n  - continue progress on structural reforms initiated under the 2021–22 Staff Monitored Program.\n- The program provides a framework to assist the authorities in designing and implementing policies to address development challenges including enhanced education and health systems, promote inclusive growth, and reduce poverty."
    },
    {
      "heading": "Macroeconomic objectives and program design",
      "content": "- Program horizon: Three-year Arrangement under the ECF.\n- Core aims:\n  - anchor macroeconomic stability,\n  - ensure medium-term debt sustainability,\n  - put the budget back on track.\n- Continuity with prior engagement: builds on structural reforms initiated under the 2021–22 Staff Monitored Program."
    },
    {
      "heading": "Fiscal policy, debt, and public financial management",
      "content": "- Fiscal policy will aim to:\n  - reduce the deficit and debt in line with the West Africa Economic and Monetary Union convergence criteria over the medium term,\n  - pursue revenue mobilization,\n  - implement expenditure rationalization,\n  - mitigate fiscal risks,\n  - practice prudent borrowing.\n- Further action to enhance governance, including to advance Anti Money Laundering/Combating the Financing of Terrorism/effectiveness, is intended to:\n  - improve the management of fiscal resources and public investment,\n  - increase transparency and accountability,\n  - counter corruption."
    },
    {
      "heading": "Governance, AML/CFT, and structural reforms",
      "content": "- Governance enhancements are highlighted as necessary for better fiscal management and public investment outcomes.\n- Specific governance focus includes advancing Anti Money Laundering/Combating the Financing of Terrorism/effectiveness.\n- Structural reforms are to continue progress begun under the 2021–22 Staff Monitored Program."
    },
    {
      "heading": "Donor financing and debt vulnerabilities",
      "content": "- The program will help catalyze donor financing, particularly:\n  - grants,\n  - concessional loans.\n- Expected effect: support the reduction of debt vulnerabilities."
    },
    {
      "heading": "Key statistics and publication metadata",
      "content": "- Pages: 105\n- Volume: 2023\n- Issue: 087\n- Series: Country Report No. 2023/087\n- DOI: https://doi.org/10.5089/9798400234361.002\n- Stock No: 1GNBEA2023001\n- ISBN: 9798400234361\n- ISSN: 1934-7685\n- Subject keywords: Auditing, Debt sustainability analysis, External debt, Fiscal consolidation, Fiscal policy, International organization, Monetary policy, Public debt, Public financial management (PFM)\n- Geographic/ topical keywords: Africa, Auditing, Bissau-Guinean authorities, Debt sustainability analysis, ECF arrangement, Fiscal consolidation, Global, Guinea-Bissau authorities, reform priority, tax penalty regime, West Africa\n- Related institutional series: IMF Staff Country Reports\n- IMF eLibrary offering noted as over 25,000 IMF publications in multiple formats.\n\nGuinea-Bissau: Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; and Staff Report, February 15, 2023.\n\n---\n\n Content in this bundle\n\n- 1gnbea2023001 — Executive Summary\n  - 1gnbea2023001 — Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1gnbea2023001 — Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: February 15, 2023",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400234361.002",
    "The paper presents Guinea-Bissau’s Request for a Three-year Arrangement under the Extended Credit Facility (ECF).",
    "The ECF-supported program aims to:",
    "The program provides a framework to assist the authorities in designing and implementing policies to address development challenges including enhanced education and health systems, promote inclusive growth, and reduce poverty.",
    "Program horizon: Three-year Arrangement under the ECF.",
    "Core aims:",
    "Continuity with prior engagement: builds on structural reforms initiated under the 2021–22 Staff Monitored Program.",
    "Further action to enhance governance, including to advance Anti Money Laundering/Combating the Financing of Terrorism/effectiveness, is intended to:",
    "Governance enhancements are highlighted as necessary for better fiscal management and public investment outcomes.",
    "Specific governance focus includes advancing Anti Money Laundering/Combating the Financing of Terrorism/effectiveness.",
    "Structural reforms are to continue progress begun under the 2021–22 Staff Monitored Program.",
    "The program will help catalyze donor financing, particularly:",
    "Expected effect: support the reduction of debt vulnerabilities.",
    "Pages: 105",
    "Volume: 2023",
    "Issue: 087",
    "Series: Country Report No. 2023/087",
    "DOI: https://doi.org/10.5089/9798400234361.002",
    "Stock No: 1GNBEA2023001",
    "ISBN: 9798400234361",
    "ISSN: 1934-7685",
    "Subject keywords: Auditing, Debt sustainability analysis, External debt, Fiscal consolidation, Fiscal policy, International organization, Monetary policy, Public debt, Public financial management (PFM)",
    "Geographic/ topical keywords: Africa, Auditing, Bissau-Guinean authorities, Debt sustainability analysis, ECF arrangement, Fiscal consolidation, Global, Guinea-Bissau authorities, reform priority, tax penalty regime, West Africa",
    "Related institutional series: IMF Staff Country Reports",
    "IMF eLibrary offering noted as over 25,000 IMF publications in multiple formats.",
    "**1gnbea2023001 — Executive Summary**"
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