Front Matter Page

©1995 International Monetary Fund

December 1995

IMF Staff Country Report No. 95/120

Guinea-Bissau-Recent Economic Developments

This report on recent economic developments in Guinea-Bissau was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. As such, the views expressed in this document are those of the staff team and do not necessarily reflect the views of the Government of Guinea-Bissau, or the Executive Board of the IMF.

Copies of this report are available to the public from

International Monetary Fund • Publication Services

700 19th Street, N.W. • Washington, D.C. 20431

Telephone: (202) 623–7430 • Telefax: (202) 623–7201

Telex (RCA): 248331 IMF UR

Internet: publications@imf.org

Price: $15.00 a copy

International Monetary Fund

Washington, D.C.

Front Matter Page

INTERNATIONAL MONETARY FUND

GUINEA-BISSAU

Recent Economic Developments

Prepared by a staff team (all AFR) consisting of Mr. S. Rothman (head), Mr. P.S. Lopes, and Mr. R. Abdoun

Approved by the African Department

August 25, 1995

Contents

• Basic Data

• I. Introduction

• II. Production, Expenditure, and Prices

  • 1. Overview

  • 2. National accounts

  • 3. Production

  • 4. Prices

• III. Public Finance

  • 1. Main developments

  • 2. Revenues

  • 3. Expenditure

  • 4. Arrears accumulation and other financing

• IV. Structural and Social Reforms

  • 1. Introduction

  • 2. Civil service reform

  • 3. Reform of the public enterprise sector

  • 4. Poverty and social adjustment measures

  • 5. Environmental priorities

• V. Money and Banking

  • 1. Banking system

  • 2. Monetary developments, 1994-95

  • 3. Interest rates and reserve requirements

• VI. External Trade and Payments

  • 1. Current account

  • 2. Capital account and reserves

  • 3. External debt and debt service

  • 4. Exchange rate developments

  • 5. Exchange and trade system

• Tables

  • 1. Real Gross Domestic Product by Sector of Origin, 1990-94

  • 2. National Accounts, 1990-94

  • 3. Nominal Gross Domestic Product by Sector of Origin, 1990-94

  • 4. Output of Main Crops, 1990-94

  • 5. Stocks, Production, and Uses of Cashew Nuts, 1990-94

  • 6. Industrial and Artisanal Fishing, 1990-94

  • 7. Manufacturing Production in Major Industries, 1990-94

  • 8. Electricity and Water Production, 1990-94

  • 9. Consumer Price Indices, 1990-April 1995

  • 10. Central Government Operations, 1990-94

  • 11. Central Government Revenue, 1990-94

  • 12. Central Government Expenditure, 1990-94

  • 13. Civil Service Employment and Developments Under the Voluntary Departure Program, December 1992-June 1995

  • 14. Status of Public Enterprise Reform, June 1995

  • 15. Monetary Survey, 1990-March 1995

  • 16. Summary Accounts of the Central Bank of Guinea-Bissau, 1990-March 1995

  • 17. Summary Accounts of the Commercial Banking System, 1990-March 1995

  • 18. Interest Rates and Required Reserve Ratios for Commercial Banks, 1990-June 1995

  • 19. Balance of Payments, 1990-94

  • 20. Trade and Exchange Rate Indicators, 1990-June 1995

  • 21. Merchandise Exports, f.o.b., 1990-94

  • 22. Merchandise Imports, c.i.f., 1990-94

  • 23. Direction of Trade, 1990-94

  • 24. Factor and Nonfactor Services, 1990-94

  • 25. External Grant Disbursements, 1990-94

  • 26. External Debt and Arrears Outstanding, 1993-94

• Charts

  • 1. Selected National Accounts and Price Indicators, 1990-94

  • 2. Selected Fiscal Indicators, 1990-94

  • 3. Selected Monetary Indicators, 1990-94

  • 4. Selected External Indicators, 1990-94

• Appendix I Summary of Tax System, May 1995

• Bibliography