IMF pledges 36.3 mln U.S. dollars support to Guinea-Bissau-Xinhua

IMF pledges 36.3 mln U.S. dollars support to Guinea-Bissau

Source: Xinhua| 2022-11-22 23:43:15|Editor: huaxia

BISSAU, Nov. 22 (Xinhua) -- The International Monetary Fund (IMF) will "in the medium term" make available to Guinea-Bissau a package of 36.3 million U.S. dollars, the Head of Mission of the international financial institution, Jose Gijon announced on Monday evening in Bissau.

This loan is part of the program of extended credit facility concluded with the Guinea-Bissau authorities, said Gijon who was speaking at the end of a 15 days fact-finding mission to Guinea-Bissau.

The 36-month extended credit facility program aims to "ensure debt sustainability, support economic recovery and create fiscal space to promote sustainable and inclusive growth," the IMF mission chief explained.

He also stressed that "the economy of Guinea-Bissau is gradually recovering from the effects of the COVID-19 pandemic".