On August, 27, 2004, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Guinea.1
Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board. At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. This PIN summarizes the views of the Executive Board as expressed during the August 27, 2004 Executive Board discussion based on the staff report.
Such assessments are required for members with longer-term program engagement. Guinea has had arrangements with the Fund almost continuously since 1986, including four extended arrangements (1987–90, 1991–96, 1997–2001, and 2001–04) and two stand-by arrangements (1986 and 1987).