The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
In 2003, Guinea's macroeconomic management deteriorated significantly, and the prospects for 2003 are uncertain at best. Performance under the 2002-03 poverty reduction and growth facility (PRGF)-supported program is weak. The main challenge is to promote and sustain the strong private sector-led growth that is necessary to achieve the poverty reduction objectives set out in the poverty reduction strategy paper (PRSP). IMF staff urged the authorities to adopt appropriate fiscal and monetary policies and step up the implementation of structural reforms.