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Guinea: Staff Report for the 2016 Article IV Consultation—Informational Annex

Author(s):
International Monetary Fund. African Dept.
Published Date:
July 2016
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Relations with the Fund

(As of May 31, 2016)

Membership Status: Joined: September 28, 1963Article VIII
General Resources Account:SDR Million%Quota
Quota214.20100.00
Fund holdings of currency187.3587.47
Reserve Tranche Position26.8512.54
SDR Department:SDR Million%Allocation
Net cumulative allocation102.47100.00
Holdings118.71115.85
Outstanding Purchases and Loans:SDR Million%Quota
RCF Loans26.7812.50
ECF Arrangements134.3862.74
Latest Financial Arrangements:
TypeDate of

Arrangement
Expiration

Date
Amount Approved

(SDR Million)
Amount Drawn

(SDR Million)
ECFFeb 24, 2012Oct 31, 2016173.66155.30
ECF 1/Dec 21, 2007Dec 20, 201069.6224.48
ECF 1/May 02, 2001May 01, 200464.2625.70
Projected Payments to Fund 2/
(SDR Million; based on existing use of resources and present holdings of SDRs):
Forthcoming
20162017201820192020
Principal2.9528.23
Charges/Interest0.000.000.000.340.30
Total0.000.000.003.2928.53
Implementation of HIPC Initiative:
Enhanced
I. Commitment of HIPC assistanceFramework
Decision point dateDec 2000
Assistance committed
by all creditors (US$ Million)3/639.00
Of which: IMF assistance (US$ million)36.01
(SDR equivalent in millions)27.80
Completion point dateSep 2012
II. Disbursement of IMF assistance (SDR Million)
Assistance disbursed to the member27.80
Interim assistance11.30
Completion point balance16.49
Additional disbursement of interest income4/7.45
Total disbursements35.25

Formerly PRGF.

When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.

Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts cannot be added.

Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.

Formerly PRGF.

When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.

Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts cannot be added.

Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.

Implementation of Multilateral Debt Relief Initiative (MDRI): Not Applicable

Implementation of Catastrophe Containment and Relief (CCR):

Date of CatastropheBoard Decision DateAmount Committed

(SDR million)
Amount Disbursed

(SDR million)
N/AMar 18, 201521.4221.42

As of February 4, 2015, the Post-Catastrophe Debt Relief Trust has been transformed to the Catastrophe Containment and Relief (CCR) Trust.

Exchange Rate Arrangement

Guinea’s exchange rate arrangement is classified as a managed float system with no predetermined path, after an interruption of the system during 2009–10; the de facto exchange rate arrangement has been reclassified to other managed from a stabilized arrangement, effective February 5, 2015. The system includes a multiple currency practice as the value of the official rate lags the weighted average commercial bank rate on which it is based by one day. The Central Bank of the Republic of Guinea (BCRG) intervenes twice a week through a multi-price foreign exchange auction market with active commercial banks. The BCRG regularly publishes information regarding foreign exchange market interventions.

Article IV Consultation

The last Article IV consultation was concluded by the Executive Board on February 24, 2012.

Technical Assistance 2011–16

Calendar Year 2011

ProviderMain TopicDates
AFWNeeds assessment (fiscal, real, financial sectors)Feb 2011
Fiscal affairs
FADStocktaking and update of PFM strategyApr-May 2011
AFWPFM capacity buildingApril 2011
AFWRevenue AdministrationApril 2011
FADDiagnostic Revenue AdministrationMay 2011
AFWPFM capacity buildingMay 2011
AFWCustoms administrationMay 2011
AFWTax arrears management and other tax administration issuesMay-June 2011
FADPFM: Budget ExecutionAug-Sep 2011
AFWPFM: Chart of public accounts implementationSep 2011
AFWCustoms: strengthening of human resources managementOct 2011
FADTax policy: general and miningOct 2011
AFWPublic DebtOct-Nov 2011
AFWTax arrears and other tax administration issuesNov 2011
AFWPFM capacity buildingNov 2011
FADPFM: legal framework, installation of resident advisorNov-Dec 2011
FADFAD resident advisor to the TreasuryDec 2011-Mar 2013
Monetary and Capital Markets
AFWBanking supervisionFeb 2011
AFWBanking supervisionMar-Apr 2011
MCMForeign Exchange ManagementJul 2011
AFWBanking supervision and regulationOct-Nov 2011
Statistics
AFWNational accountsFeb 2011
AFWPublic finance statisticsMar 2011
AFWNational accountsApr 2011
AFWReal Sector Statistics/Assistance with 1993 SNA implementationJul 2011
AFWReal Sector Statistics/National Accounts implementationDec 2011
Source: IMF staff.
Source: IMF staff.
Calendar Year 2012
ProviderMain TopicDates
Fiscal affairs
FADGovernment accounting, chart of accounts, budget organic law.February 2-15, 2012
FADMining and General tax policyFebruary 9-10, 2012
FADCash management plan, Treasury Single Account, commitment plan, budget organic law, chart of accounts.March 3-15, 2012
FADMining tax policyApril - May 2012
AFWTreasury managementMay - June 2012
AFWCustoms administrationJune 14-25, 2012
FADLegal framework of public financial managementJune - July, 2012
FADMining tax policyJuly 1-14, 2012
FADMining tax policySeptember 1-10, 2012
FADAgreement on central bank advancesSeptember 3-14, 2012
FADLegal framework of public financial managementOctober 1-15, 2012
FADPublic expenditureOctober 1-14, 2012
AFWCustoms administrationNovember 14-23, 2012
FADPublic expenditureDecember 1-21, 2012
AFWTax administrationDecember 12-23, 2012
FADPublic financial management (resident advisor)2012-2013
Legal
LEGLegal drafting assistance on mining taxationAugust 30-September 11, 2012
Monetary and Capital Markets
AFWBank Supervision and RegulationJanuary 2012
MCMCentral Banking (resident advisor)Feb 2012-Feb 2013
AFWBank Supervision and RegulationFebruary 2012
AFWBank Supervision and RegulationMarch 2012
AFWBank Supervision and RegulationSeptember 2012
AFWBank SupervisionOct-Nov 2012
Statistics
AFWReal sector statistics, national accountsFeb-Mar 2012
STABalance of paymentsMar-Apr 2012
AFWNational accountsSeptember 2012
STAMigration to GFSM 2001September 2012
AFWNational accountsNovember 2012
Source: IMF staff.
Source: IMF staff.
Calendar Year 2013
ProviderMain TopicDates
Fiscal Affairs
FADManual on budget execution (1/2)January 28-February 15, 2013
FADBudget preparation framework (1/2)January 29-February 1, 2013
FADTSA implementation (follow up)February 6-15, 2013
FADBudget preparation framework (2/2)March 4-8, 2013
FADPEFA assessmentMarch 20-April 3, 2013
FADExtrabudgetary entities frameworkApril 29-May 3, 2013
FADManual on budget execution (2/2)April 15-26, 2013
FADPublic financial managementApril 8-19
FADPEFA dissemination and reform strategyMay 15-22, 2013
FADTax administrationJune 17- 28, 203
FADPublic financial managementSeptember 2-13, 2013
FADVAT credit refund in the mining sectorNovember 18-22, 2013
FADCustoms AdministrationDecember 9-13, 2013
FADPublic financial managementDecember 9-20, 2014
FADPublic financial management (Resident advisor)2013
Money and Capital Markets
AFWBank Supervision and Regulation in GuineaFebruary 4-22, 2013
AFWAnalysis of Debt PortfolioApril 8-19, 2013
AFWBank SupervisionMay 13-24, 2013
AFWBank SupervisionDecember 1-13, 2013
AFWBank Supervision and Regulation in GuineaDecember 2-13, 2013
MCMCentral Banking (Resident advisor)2013
Legal
LEGCentral Banking LegislationMarch, 2013
Statistics
AFWMigration to GFSM 2001April 8-19, 2013
AFWNational accountsMay 13-24, 2013
AFWGovernment finance statisticsMay 22-31, 2013
Source: IMF staff.
Source: IMF staff.
Calendar Year 2014
ProviderMain TopicDates
Fiscal Affairs
FADFiscal forecasting and budgetingFebruary 10-24, 2014
FADVAT refund mechanisms for the mining sector and PFM governanceJanuary 29 - February 6, 2014
Monetary and Capital Markets
MCMReserve ManagementJanuary 30 - February 7, 2014
AFWBank SupervisionMarch 3-14, 2014
MCMCentral Banking Resident Advisor2013 - 2014
Statistics
AFWNational AccountsJanuary 6-17, 2014
STAFinancial Soundness IndicatorsApril 14-18, 2014
Source: IMF staff.
Source: IMF staff.
Calendar Year 2015
ProviderMain TopicDates
Fiscal Affairs
FADPFM Strategy and MT FrameworkFebruary 3 - 12, 2015
FADBudget ClassificationFebruary 16 - 25, 2015
FADFiscal Governance of Parastatals and Natural ResourcesFebruary 3 - 10, 2015
FADJSA7 Project InceptionJune 3 - 16, 2015
AFWPFM StrategyJuly 27 - August 7, 2015
AFWTax AdministrationSeptember 21 - October 2, 2015
Monetary and Capital Markets
AFWBank SupervisionJune 1 -12, 2015
AFWBank SupervisionNovember 11 - December 4, 2015
MCMFX Market Development and Liquidity ManagementNovember 30 - December 10, 2015
Statistics
AFWGovernment Finance StatisticsNovember 14 - 25, 2015
Source: IMF staff.
Source: IMF staff.
Calendar Year 2016
ProviderMain TopicDates
Fiscal Affairs
FADNatural Resource ManagementJanuary 13 - 26, 2016
FADSOEs and Fiscal RisksJanuary 13 - 24, 2016
FADRevenue AdministrationMarch 1 - 14, 2016 1
AFWPFM Resident AdvisorMarch 3 - 18, 2016 1
FADNatural Resource ManagementMarch 3 - 18, 2016 1
FADNatural Resource ManagementApril 4 - 10, 2016 1
AFWCustomsApril 18 -, 2016 1
FADPFM Resident Advisor2016-2017
Monetary and Capital Markets
AFWDebt ManagementFebruary 2 - March 4, 2016
MCMMonetary and FX OperationsMarch 9 - 22, 2016
AFWBank SupervisionMarch 14 - 25, 2016
Statistics
AFWNational Accounts CompilationFebruary 2 - 19, 2016
AFWGovernment Finance StatisticsMarch 14 - 18, 2016
STAFinancial Soundness IndicatorsApril 20 – 26, 2016
Source: IMF staff.

Planned.

Source: IMF staff.

Planned.

Joint World Bank-Fund Matrix

(As of June 2016)

TitleProductsExpected delivery date
World Bank work program in the next 12 monthsOperations:
Mineral Advisory FacilityOngoing
Social Safety Nets ProjectQ2 2016
Health Services ProjectQ2 2016
Budget Support Lending (DPO)Q2 2016
Economic and Sector Work:
Public Expenditure Review (revenue mobilization, public investment management, state-owned enterprises, domestic debt)Q3 2016
Mobile Phone Survey of Socio-Economic Impact of EbolaQ2 2016
Technical assistance/other analytical:
Boosting budget executionQ1 2016
Economic and Poverty MonitoringOngoing
Support on EITI implementationOngoing
IMF work program in the next 12 monthsProgram:
Sixth and Seventh reviews under the ECFMarch 2016
Article IV ConsultationJune 2016
Eight review under the ECFOctober 2016
Technical Assistance:
Mining and general tax policyOngoing
Public financial managementOngoing
Monetary and exchange rate policyOngoing
Banking supervisionOngoing
National and fiscal accounts, balance of paymentsOngoing
Fund requests to the BankAudit of public investment projects

Assessment of the electricity reform plan and budgetary implications

Update of poverty analysis

Assessment of the major project to build a dam using a PPP framework

Assessment of reforms in agriculture and the budget implications

Information sharing on the financing of the large iron ore project
Ongoing

Ongoing

Ongoing

Ongoing

Ongoing
Bank requests to FundRegular updates on macro-economic and fiscal projections

Consultations on program structural benchmarks

Surveillance of fiscal impact of mining sector reforms
Ongoing

Ongoing

Ongoing
Joint Bank-Fund productsDebt Sustainability Analysis

Joint Bank-Fund Support for Medium-Term Debt Strategy
Q1 2016

Q3 2016

Relations with the African Development Bank, 2011–16

(As of June 2016)

1. The Bank’s Country Strategy Paper (CSP) 2012–16, approved by the Board on March 1, 2012, focuses on two pillars: (i) economic and financial governance; and (ii) infrastructure for development. Under the first pillar, the Bank will assist in building public financial management capacity, improving governance in the extractive sector and strengthening the central government’s budget. Under the second pillar, the Bank will contribute to reducing the power generation gap and further developing transport infrastructure. The mid-term review of the CSP, which was delayed due to the Ebola crisis, was done in February 2016. This provided an opportunity for dialogue on the Bank’s support to Guinea through the implementation of the PRSP, taking into account the fight against Ebola, the socio-economic recovery process, and outcomes of the Abu Dhabi Conference for the period 2015 to 2017. The Bank and Guinea’s authorities agreed to extend the end of the CSP from 2016 to 2017 and to maintain the two pillars. The extension will: (i) allow the government and the Bank to implement the reforms and the operations which were delayed due to the MVE; and, (ii) allow the Bank to better prepare the next country strategy paper (2017–21) which will be aligned on the new national development plan 2016–20 expected to be finalized in October 2016. They agreed also that the Bank will support the development of the agricultural sector and the value chain program Guinea intends to develop in the coming months, targeting sector reforms (including land reform), entrepreneurship and business management (including youth), and financing (credit and guarantees).

2. Lending operations: During the donor and investment conference in Abu Dhabi, AfDB announced UA 163 million ($250 million) additional resources in targeted support to the country’s development program during the 2014–16 period through the mobilisation of all its financial and technical assistance instruments/vehicles. In 2016 (last quarter), the Bank will conduct in close coordination with the IMF a Debt Sustainability and Country Risk Analysis to assess whether Guinea can be allowed more headroom for accessing the Bank’s ADB window to finance key infrastructure projects in 2017. The 2017 Indicative Operational Program (IOP) will be fully financed in 2017 if the analysis results in increased access to the ADB window.

3. In the governance sector, the Bank has already approved a budget support allocation of UA20 million in 2011 and support of UA 2.5 million through the Fragile State Facility (FSF). In addition, the Bank restructured some non-performing projects and reallocated UA 7.5 million to an economic governance project in 2011. This was to improve the country’s public finance management while supporting the reforms aimed at enhancing governance, especially in the extractive sector. The FSF support also covers public administration capacity building, particularly in statistics and strategic planning. At the end of 2013 the Bank approved an institutional support project of UA 11.4 million focused on improving governance in mining contract management and on enhancing public investment and project management. A budget support operation (UA 12 million) targeting the private sector environment and PPPs frameworks, governance (mining, PFM, and public investment management) was approved by the board in end-June 2014 and UA 6.39 million was disbursed end-December 2014. The Bank intends to submit to board approval by end-July 2016 a programmatic budget support operation (UA 10.5 million in 2016 and indicative UA 10 million in 2017) targeting public financial management and the business climate. In addition, the Bank intends to submit for Board approval by end-July 2016 a capacity building project aimed at scaling-up and enhancing the government capacity to manage the Simandou Mining project (mining one stop shop, local content policy, communities, etc.). By end 2016 the Bank will support a small dedicated capacity building operations targeting Central Bank (BCRG) for UA 2 million. The Agricultural project the Bank intends to support in 2017 for at least UA 10 million at the beginning of the program will target the governance of the sector, entrepreneurship (including youth), and financing issues (credit and guarantees).

4. In the energy sub-sector, two projects were signed at the end of 2013 and began implementation in 2014. The first project is the second Conakry Electrical Networks Rehabilitation and Extension Project (PREREC.2) for UA 11 million. The second project is the Côte d’Ivoire-Liberia- Sierra Leone-Guinea power regional interconnection project for UA 40.2 million that will see the construction of 1,360 km of 225 kV transmission lines and 12 sub-stations. In 2015, the Bank approved the financing the interconnection project of the Gambia River Basin Development Organization (OMVG) involving the construction of a dam and a 240 MW hydro-power plant at Kaleta already financed by the government with a loan from China. Implementation of these three projects will result in: (i) an increase in the average electricity access rate; (ii) a reduction in the kWh generating cost; (iii) a reduction in the number of power outages; (iv) the creation of temporary and permanent jobs; and (v) a reduction in greenhouse gas emissions. Contingent on the resource mobilisation strategy related to the headroom related to debt and country risk analysis to be discussed with the country and the IMF, the Bank is working on financing for the Guinee-Mali interconnection project, which could be submitted to the Board approval in 2017.

5. In the transport sub-sector, the Board approved in December 2014 the road development and Transport Facilitation Programme within the MRU including the road Danané (Côte d’Ivoire)-Frontier of Guinea and from the frontier to N’zoo-Lola (Guinea). This road is part of a regional project including these key roads: Zantiébougou-Kolondiéba-Kadiana-Frontier of Côte d’Ivoire (140 km) linking Bamako to Abidjan and San-Pédro through the axe Tengréla-Boundiali-Séguéla-Daloa; and Duekoué-Guiglo-Bloléquin-Toulepleu-Frontier of Liberia. These roads are part of the Transafrican Dakar-Abidjan-Lagos road. The Bank intends also to co-finance in 2017 with the European Union a road program including the Coyah-Farmoriah-Pamelap road towards Sierra Leone, the Boké (Guinea)-Quebo (Guinea-Bissau) road, which is part of the ECOWAS Regional Transport Programme, and the feasibility studies for the Kankan-Mandiana-Odiene road. Because of their integrative role, construction of these roads is in line with the New Partnership for Africa’s Development (NEPAD) Short-Term Action Plan, whose core objective is to have interstate roads without any impediment to the free movement of goods and persons. Contingent on the availability of a headroom related to Debt and Country risk analysis to be discussed with the country and the IMF, the Bank will finance in 2017 the building of interchanges on four key crossroads (Hamdalaye, Cosa, Bambeto, Encho5).

6. Support to private sector operations. During the 2014–17 period, the Bank will support specific private sector operations with high and transformative impact. At the request of the government, AfDB envisages to contribute to efforts to mobilise resources for financing the infrastructure part of the Simandou mining project. In this regard, AfDB intends to provide an A loan of about UA 200 million equivalent to about USD 300 million which will leverage at least a USD 700 million billion loan. Africa50 will also contribute to the financing of this project at a later stage. AfDB intends to provide an A loan of about USD 100 million for financing part of the Global Alumina Bauxite project. AfDB will also support capacity building and provide technical assistance in order to allow the government to fulfil its commitment pertaining to the implementation of the Simandou project.

7. Non-lending operations: To deepen the analysis and understanding of the country’s main challenges and fuel strategic reflexion, the Bank will help the government finalize in 2015, and in collaboration with UNDP, an economic and sector works (ESWs) on (i) private sector profile and (ii) local taxation. The Bank will enhance its dialogue and provide specific technical assistance on PPP (PPP law and PPP Unit) and on mining sector governance. The Bank will also continue to support implementation of PRSP (direct support to CTSP and SP-SRP in charge of coordinating the monitoring of the implementation of economic reforms programs and the PRSP), post-Abu Dhabi commitments implementation, and the link between macroeconomic/budget framework sector policies and the public investment plan. The Bank will continue its support through the FSF programme to the National Statistics Development Strategy (NSDS) and the conduct of the Third General Population and Housing Census (RGPH-III).

8. Trust Funds: In addition to the ADF and FSF allocations, the Bank could mobilize supplementary resources from the ADB private sector window (including enclave operations in the mining sector infrastructure), and the Trust Fund resources to finance complementary operations in the sectors covered in the 2012–16 Country Strategy Paper (CSP) and that are important for the country’s development. For example, through the Rural Water Supply and Sanitation Initiative, a strategy could be prepared in that area. Other instruments also available are the Partial Risk Guarantee Instrument, the Global Environment Fund, and the Africa Carbon Facility and Green Fund.

9. Response to the Ebola crisis. The AfDB has adopted a regional approach to address the Ebola crisis. In April 2014, the Bank provided an emergency support of USD 2 million UA equivalent to USD 3 million grant to support Mano River Union (MRU) countries affected namely Guinea, Liberia and Sierra Leone. In July 2014, the AfDB approved a UA 40 million equivalent to USD 60 million grant for countries fighting against Ebola. In October 2014 the AfDB approved UA 100 million sector budget support in order to support the three most affected countries. AfDB approved also in October 2014 a UA 7.7 million Technical Assistance Capacity Building Programme to support the national and foreign health workers programs. The total Bank’s support for Guinea amounts to UA 35 million (USD 52 million) and aims to help the government enhance the immediate response but also structure a medium to long term plan. The AfDB will support the government’s 2015-2017 post-Ebola recovery plan by accelerating the execution of planned projects and mobilizing additional resources for new operations/projects.

10. African Development Bank and Fund staff collaboration: sharing of information on the ECF-supported program, the macroeconomic situation, the budget, progress in structural reform, planned missions, and mission reports.

Table 1.Guinea: ADF 13 (2011–16) and FSF Operations Programming(UA million)
Lending Operations
YearADF/ADB 12/13/14FSF (Pillar III)Regional & Other FundsTotal
Pillar I –Economic and Financial Governance Support
Budget support201120.020.0
Targeted support20112.52.5
Budget support2014/1512.012.0
Capacity building (Mining One-Stop Shop and Simandou)20164.02.08.0
Targeted support for capacity building (Central Bank)20162.02.0
Agriculture (Governance, entrepreneurship, and financing)201710.010.0
Sub-Total46.08.554.5
Pillar II –Infrastructure Support (Energy, Transport, etc.)
CLSG Interconnection (electricity)201316.024.240.2
Rehabilitation of electric power networks201311.011.0
Institutional support project - Public investment management and mining201311.411.4
Mano River Union road (CI-Liberia, linked to Mali)201413.120.333.3
OMVG201520.030.050.0
Coyah-Farmoriah-Pamelap road including a study for the Kankan-Mandiana-Odiene project201744.021.065.0
Boké-Quebo road201749.021.070.0
Sanitation and Rural water supply201710.05.015.0
Guinea-Mali interconnection (energy)201735.035.0
Building Interchanges on 4 key crossroads (Hamdalaye, Cosa, Bambeto, Encho5)2017100100
Sub-Total309.5121.5431.0
Total355.58.5121.5485.5
Economic and Sector Work (analytical support)
Study on financial sector reforms2013x
Private sector profile2015x
Private sector strategy2016
Guinea Vision 20402016
PPP law2016
Local taxation2016

Millennium Development Goals1

199019952000200520142014 Sub-Saharan Africa2015 MDG Target
Goal 1: Eradicate extreme poverty and hungerHalve
Employment to population ratio, 15+, total (%)696970707165
Employment to population ratio, ages 15-24, total (%)525252535447
GDP per person employed (constant 1990 PPP $)
Income share held by lowest 20%356
Malnutrition prevalence, weight for age (% of children under 5)292313
Poverty gap at $1.90 a day (2011 PPP) (%)63192624
Poverty headcount ratio at $1.25 a day (PPP) (% of population)92496260
Vulnerable employment, total (% of total employment)
Goal 2: Achieve universal primary education100
Literacy rate, youth female (% of female ages 15-24)13..30100
Literacy rate, youth male (% of males ages 15-24)4434
Persistence to last grade of primary, total (% of cohort)4774100
Primary completion rate, total (% of relevant age group)201931556269100
Total enrolllment, primary (% net)2645657577100
Goal 3: Promote gender equality and empower women100
Proportion of seats held by women in national parliament (%)9192222100
Ratio of female to male primary enrollment (%)455167808593100
Ratio of female to male secondary enrollment (%)3233355086
Ratio of female to male tertiary enrollment (%)97234473
Share of women employed in the non-agricultural sector (% of total non-agr. emp.)
Goal 4: Reduce child mortality>75% reduction
Immunization, measles (% of children ages 12-23 months)356142515273
Mortality rate, infant (per 1,000 births)141122103856358
Mortality rate, under 5 (per 1,000)238206170137978678
Goal 5: Improve maternal health
Births attended by skilled health staff (% of total)38
Maternal mortality ratio (modeled estimate, per 100,000 live births)1,040964976695688560>75% reduction
Contraceptive prevalence (% of women ages 15-49)269
Goal 6: Combat HIV/AIDS, malaria and other diseasesHalt/reverse
Incidence of tuberculosis (per 100,000 people)249250228210177Halt/reverse
Prevalence of HIV, female (% ages 15-24)111112Halt/reverse
Prevalence of HIV, male (% ages 15-24)010001Halt/reverse
Prevalence of HIV, total (% ages 15-49)122225Halt/reverse
Tuberculosis case detection rate (%, all forms)131827345451Halt/reverse
Goal 7: Ensure environmental sustainability
CO2 emissions (kg per PPP $b of GDP)0000
CO2 emissions (metric tons per capita)0000
Forest area (% of land area)302928272626
Improved sanitation facilities (% of population with access)8111315202957
Improved water source (% of population with access)52586368776772
Marine protected areas (% of territorial waters)4
Net ODA received percapita (current US$)485317214350
Goal 8: Develop a global partnership for development
Debt service (PPG and IMF only, % of exports, excluding workers' remittances)2024151345
Internet users (per 100 people)0001219
Telephone lines (per 100 people)0000
Fertility rate, total (births per woman)766655
Other goals and indicators
GNI per capita, Atlas method (current US$)4304703803404701709
GNI, Atlas method (current US$ billions)343361665
Gross capital formation (% of GDP)252120201422
Life expectancy at birth, total (years)505251535657
Literacy rate, adult total (% of people, ages 15 and above)2130
Population, total (millions)6891012948
Trade (% of GDP)654653708162
Sources: Millenium Development Goals Database, November 2015.

Figures in italics refer to periods other than those specified.

Sources: Millenium Development Goals Database, November 2015.

Figures in italics refer to periods other than those specified.

Statistical Issues

(As of March 1, 2016)

I. Assessment of Data Adequacy for Surveillance
General: Data provision is broadly adequate for surveillance with some key data shortcomings in national accounts and fiscal statistics.
National Accounts: Real sector statistics are incomplete, and published with insufficient timeliness to support economic policymaking. Statistics on economic activities are published less frequently and less regularly; the monthly bulletin of the Guinean economy is trying to include the limited available macroeconomic variables. Monthly surveys of mining, industrial and agricultural production are produced with delays. A series based on 1993 SNA was released in August 2014 along with brief analyses on main aggregates and methodological notes. Following AFRITAC West’s recommendation, the National Institute of Statistics plans to implement the 2008 SNA with 2015 as new benchmark year. Employment and population statistics are published on an annual frequency.
Price Statistics: The monthly consumer price index (CPI), which only covers Conakry, is published in a timely manner with 2002 as base year.
Government Finance Statistics: The Ministry of Economy and Finance compiles comprehensive monthly budgetary central government data on a cash basis for revenue, and on commitment and cash basis for expenditure based on a national presentation not comparable to international standards. The last Government Finance Statistics (GFS) technical assistance (TA) mission found that public finance reforms are progressing slowly in Guinea, with most progress in the adoption of the new budget nomenclature and the new State’s chart of accounts. The current compilation methodology of the government operations tables (TOFE) needs to be modernized, which is currently reconciled with budgetary execution and financing data. The production of the TOFE based on GFSM 2001/2014 will require the use of the data outside the general accounting system, as it lacks comprehensiveness and timeliness. Cash-based general accounts must also be improved along with the gradual implementation of accrual accounting. Implementation of these reforms will require new IT systems, training and manuals. The data produced by the debt office is of fair quality, although it does not yet include the financing of new infrastructural projects. Data on extra-budgetary units, local government and central government investments in public and private corporations is available, but will need to be assessed from a GFS perspective. Complete accounts for the social security funds sub-sector of good quality are also available.
Monetary and Financial Statistics: Central Bank and deposit money bank accounts as well as the monetary survey are compiled and shared with the African Department on a monthly basis, for the purposes of program monitoring. Some delays have been experienced with commercial banks data, which still needs to be improved. Coordination between the Central Bank and the Ministry of Economy and Finance is improving, reducing discrepancies between monetary and fiscal data. However, the ongoing migration to a new accounting system at the Central Bank has led to frequent data changes and to delays in the provision of monetary statistics. Monetary data used to assess program performance are certified by an independent external auditor on a regular basis. Monetary and financial sector data reports to the Statistics Department (STA) experience significant delays, and the latest available data corresponds to June 2012. In January 2014, STA provided TA to the BCRG to start reporting monetary data using the recommended standardized report forms (SRFs).
Financial Sector Surveillance: Financial Soundness Indicators (FSI) are consolidated on a quarterly basis by the Central Bank. Guinea does not report FSIs to STA.
External Sector Statistics: The Central Bank compiles annual Balance of Payments and International Investment Position statistics in line with the fifth edition of the Balance of Payments Manual (BPM5). Although the quality of external sector statistics (ESS) has improved since 2008, the central bank does not take advantage of all data sources within to compile the ESS. A balance of payments survey has been implemented with a response rate of over 75 percent.
II. Data Standards and Quality
Guinea participates in the General Data Dissemination System, but the metadata have not been updated since 2003.No data ROSC is available.
Table of Common Indicators Required for Surveillance(As of June 27, 2016)
Date of Latest InformationDate ReceivedFrequency of Data6Frequency of Reporting6Frequency of Publication 6
Exchange Rates06/23/201606/23/2016DDD
International Reserve Assets and Reserve Liabilities of the Monetary Authorities105/31/201606/27/2016MMM
Reserve/Base money05/31/201606/27/2016MMM
Broad Money05/31/201606/27/2016MMM
Central Bank Balance Sheet05/31/201606/27/2016MMM
Consolidated Balance Sheet of the Banking System05/31/201606/27/2016MMM
Interest Rates204/30/201605/26/2016MMM
Consumer Price Index05/31/201606/21/2016MMM
Revenue, Expenditure, Balance and Composition of Financing3 - General Government4NANANANANA
Revenue, Expenditure, Balance and Composition of Financing3 - Central Government05/31/201606/21/2016MMM
Stocks of Central Government and Central Government - Guaranteed Debt512/31/201504/21/2016AAA
External Current Account Balance12/31/201504/16/2016QNAA
Exports and Imports of Goods and Services12/31/201504/16/2016QNAA
GDP/GNP12/31/201303/01/2014AAA
Gross External Debt12/31/201502/24/2016AAA
International Investment PositionNANANANANA

Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.

Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.

Foreign, and domestic bank and non-bank financing.

The general government consists of the central government (budgetary and extra-budgetary funds, and social security funds) and state and local governments.

Including currency and maturity composition.

Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A), Not Available (NA).

Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.

Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.

Foreign, and domestic bank and non-bank financing.

The general government consists of the central government (budgetary and extra-budgetary funds, and social security funds) and state and local governments.

Including currency and maturity composition.

Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A), Not Available (NA).

Decision point: Point at which the IMF and the World Bank determine whether a country qualifies for assistance under the HIPC Initiative and decide on the amount of assistance to be committed.

Interim assistance: Amount disbursed to a country during the period between decision and completion points, up to 20 percent annually and 60 percent in total of the assistance committed at the decision point (or 25 percent and 75 percent, respectively, in exceptional circumstances).

Completion point: Point at which a country receives the remaining balance of its assistance committed at the decision point, together with an additional disbursement of interest income as defined in footnote 2 above. The timing of the completion point is linked to the implementation of pre-agreed key structural reforms (i.e., floating completion point).

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