## Guinea-Bissau: Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; and Staff Report

_IMF Staff Country Reports, February 15, 2023_

## Source details

**Canonical URL:** [Guinea-Bissau: Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; and Staff Report](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)

## Other formats

- [Markdown version](/en/publications/cr/issues/2023/02/14/guinea-bissau-request-for-a-three-year-arrangement-under-the-extended-credit-facility-press-529817/index.md)
- [Structured JSON version](/en/publications/cr/issues/2023/02/14/guinea-bissau-request-for-a-three-year-arrangement-under-the-extended-credit-facility-press-529817/index.json)
- [Bundle manifest](/en/publications/cr/issues/2023/02/14/guinea-bissau-request-for-a-three-year-arrangement-under-the-extended-credit-facility-press-529817/bundle-manifest.json)

## Bibliographic details
- Published: February 15, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400234361.002

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### Overview
- The 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,
  - put the budget back on track,
  - ensure medium-term debt sustainability,
  - continue progress on structural reforms initiated under the 2021–22 Staff Monitored Program.
- 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.

### Macroeconomic objectives and program design
- Program horizon: Three-year Arrangement under the ECF.
- Core aims:
  - anchor macroeconomic stability,
  - ensure medium-term debt sustainability,
  - put the budget back on track.
- Continuity with prior engagement: builds on structural reforms initiated under the 2021–22 Staff Monitored Program.

### Fiscal policy, debt, and public financial management
- Fiscal policy will aim to:
  - reduce the deficit and debt in line with the West Africa Economic and Monetary Union convergence criteria over the medium term,
  - pursue revenue mobilization,
  - implement expenditure rationalization,
  - mitigate fiscal risks,
  - practice prudent borrowing.
- Further action to enhance governance, including to advance Anti Money Laundering/Combating the Financing of Terrorism/effectiveness, is intended to:
  - improve the management of fiscal resources and public investment,
  - increase transparency and accountability,
  - counter corruption.

### Governance, AML/CFT, and structural reforms
- 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.

### Donor financing and debt vulnerabilities
- The program will help catalyze donor financing, particularly:
  - grants,
  - concessional loans.
- Expected effect: support the reduction of debt vulnerabilities.

### Key statistics and publication metadata
- 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.

*Guinea-Bissau: Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; and Staff Report, February 15, 2023.*

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## Content in this bundle

- **1gnbea2023001 — Executive Summary**
  - [1gnbea2023001 — Executive Summary (Markdown version)](/-/media/files/publications/cr/2023/english/1gnbea2023001.pdf.md){rel="alternate" type="text/markdown"}
  - [1gnbea2023001 — Executive Summary (PDF)](/-/media/files/publications/cr/2023/english/1gnbea2023001.pdf){rel="external" type="application/pdf"}

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_Source: 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_