Recent economic reforms in Guinea-Bissau have had a positive impact on the country’s outlook. Although the economy seems set to rebound, it still faces significant internal and external risks, according to the IMF.
The IMF announced yesterday a disbursement of $7.3 million to Guinea-Bissau under the Extended Credit Facility (ECF) agreement. This funding will help meet the country’s balance of payments and public finance needs. With this latest disbursement, the total amount received under the agreement reaches $33.44 million out of a total of $38.4 million.
The institution notes that the country's commitment to implementing ambitious policy reforms is starting to show results. For example, cashew nut production increased by 8%, rising from 200,000 tons in 2022 to 260,000 tons in 2023. Economic growth is expected to reach 5% this year.
However, the IMF urges continued efforts to implement the reforms outlined in the ECF agreement, address budgetary risks related to public services, and strengthen governance to better combat corruption, money laundering, and terrorism financing.
It is important to note that Guinea-Bissau’s economy is highly vulnerable to international price fluctuations and to cashew nut production, which accounts for 90% of exports and 10% of GDP, according to the French Treasury.
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
• Morocco began expanding Casablanca Airport to raise capacity to 35M passengers by 2029• The $1.7B project supports the “Airports 2030” plan to...
• DRC extended its cobalt export ban to September 2025 due to high stock levels.• Major producers like CMOC face delivery issues; supply risks remain but...
• Eskom restored Medupi Unit 4 early, adding 800 MW and helping end load-shedding• Coal still dominates South Africa’s power, slowing the energy...
• Ethiopia completed the $4B Grand Renaissance Dam to boost power capacity and energy independence• Egypt and Sudan fear water supply risks, with no...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...