Guinea-Bissau Resident Representative Site
Resident Representative Office in Guinea-Bissau
This web page provides information in on the activities of the Office, views of the IMF staff, and the relations between Guinea-Bissau and the IMF. Additional information can be found on Guinea-Bissau and IMF country page, including official IMF reports and Executive Board documents in English that deal with Guinea-Bissau.
News and Highlights
The IMF’s African Department is the hub of the institution’s engagement with low-income member countries. Over the past year, 13 new programs were approved under the IMF’s Policy Support Instrument, and Extended Credit Facility, more flexible policies were implemented to allow for flexible financing of infrastructure investment, and policy advice focused on restoring “macroeconomic buffers” that enabled effective policy responses to mitigate the worst of the impact of the 2009 global economic crisis.
With world recovery under way, Africa faces the twin challenges of reviving strong growth and reinforcing resilience to the economic shocks that regularly batter the continent, IMF officials say as Managing Director Dominique Strauss-Kahn embarks on a three-country visit to the region.
Guinea-Bissau and The IMF
Guinea-Bissau: Request for Disbursement Under the Rapid Credit Facility-Staff Report; Press Release; and Statement by the Executive Director for Guinea-Bissau
Press Release: IMF Executive Board Approves US$5.24 million Disbursement Under the Rapid Credit Facility for Guinea-Bissau
Guinea-Bissau -- Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, September 25, 2014
September 25, 2014
PDF File Size: 257Kb
Press Release: IMF Mission and Guinea-Bissau Reach Staff-level Agreement on Financial Assistance Under The Rapid Credit Facility
Regional Economic Outlook for Sub-Saharan Africa
Sub-Saharan Africa's economy is set to register another year of solid growth, although the expansion will be at the lower end of the range registered in recent years, mainly reflecting the severe impact of the sharp decline in oil prices on the region's oil exporters. In a context of tightening global financial conditions, the large fiscal and current account deficits that prevail in some countries could leave them vulnerable to a potential reduction in external financing. An uneven global recovery and domestic security-related challenges are also risks to the outlook. Against this backdrop, and beyond the immediate effects of the current shock, further progress toward diversification and structural transformation remains crucial to sustain high and inclusive growth, generate jobs for the rapidly growing young population, and foster integration into global value chains.
Pan-African Banking : Opportunities and Challenges for Cross-Border Oversight
Pan-African banks are expanding rapidly across the continent, creating cross-border networks, and having a systemic presence in the banking sectors of many Sub-Saharan African countries. These banking groups are fostering financial development and economic integration, stimulating competition and efficiency, introducing product innovation and modern management and information systems, and bringing higher skills and expertise to host countries. At the same time, the rise of pan-African banks presents new challenges for regulators and supervisors. As networks expand, new channels for transmission of macro-financial risks and spillovers across home and host countries may emerge. To ensure that the gains from cross border banking are sustained and avoid raising financial stability risks, enhanced cross-border cooperation on regulatory and supervisory oversight is needed, in particular to support effective supervision on a consolidated basis. This paper takes stock of the development of pan-African banking groups; identifies regulatory, supervisory and resolution gaps; and suggests how the IMF can help the authorities address the related challenges.
IMF Opens Africa Training Institute in Mauritius
The International Monetary Fund (IMF) on June 26, 2014 opened the Africa Training Institute (ATI) in Ebene, Mauritius, adding an important regional center to a global network of centers helping to develop countries' policymaking capacity by transferring economic skills and best practices.