Abstract
Guinea was declared free of the Ebola epidemic at end-2015 and after two years of stagnant activity, growth is expected to rebound this year. Pent-up demand coupled with robust agricultural growth, and improved electricity provision will be the main drivers of activity, lifting growth to around 4 percent. However, given the severity of the shocks that have hit Guinea during 2014-15 and continued depressed commodities prices, the recovery is expected to be gradual and will need to be supported by policies to restore macroeconomic stability and rebuild domestic and external buffers. Structural reforms are also needed to improve the business environment, including in the mining sector, and strengthen the delivery of public service.
Relations with the Fund
(As of January 31, 2016)
| Membership Status: Joined: September 28, 1963 | Article VIII | |
| General Resources Account: | SDR Million | %Quota |
| Quota | 107.10 | 100.00 |
| Fund holdings of currency | 107.03 | 99.93 |
| Reserve Tranche Position | 0.08 | 0.07 |
| SDR Department: | SDR Million | %Allocation |
| Net cumulative allocation | 102.47 | 100.00 |
| Holdings | 145.48 | 141.98 |
| Outstanding Purchases and Loans: | SDR Million | %Quota |
| RCF Loans | 26.78 | 25.00 |
| ECF Arrangements | 116.02 | 108.33 |
| Membership Status: Joined: September 28, 1963 | Article VIII | |
| General Resources Account: | SDR Million | %Quota |
| Quota | 107.10 | 100.00 |
| Fund holdings of currency | 107.03 | 99.93 |
| Reserve Tranche Position | 0.08 | 0.07 |
| SDR Department: | SDR Million | %Allocation |
| Net cumulative allocation | 102.47 | 100.00 |
| Holdings | 145.48 | 141.98 |
| Outstanding Purchases and Loans: | SDR Million | %Quota |
| RCF Loans | 26.78 | 25.00 |
| ECF Arrangements | 116.02 | 108.33 |
Latest Financial Arrangements:
Projected Payments to Fund 2/
(SDR Million; based on existing use of resources and present holdings of SDRs):
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2016 | 2017 | 2018 | 2019 | 20 | |
| Principal | 0.00 | 28. | |||
| Charges/Interest | 0.00 | 0.00 | 0.00 | 0.29 | 0 |
| Total | 0.00 | 0.00 | 0.00 | 3.24 | 28 |
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2016 | 2017 | 2018 | 2019 | 20 | |
| Principal | 0.00 | 28. | |||
| Charges/Interest | 0.00 | 0.00 | 0.00 | 0.29 | 0 |
| Total | 0.00 | 0.00 | 0.00 | 3.24 | 28 |
Implementation of HIPC Initiative:
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.
| Enhanced | |
| I. Commitment of HIPC assistance | Framework |
| Decision point date | Dec 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 date | Sep 2012 |
| II. Disbursement of IMF assistance (SDR Million) | |
| Assistance disbursed to the member | 27.80 |
| Interim assistance | 11.30 |
| Completion point balance | 16.49 |
| Additional disbursement of interest income4/ | 7.45 |
| Total disbursements | 35.25 |
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.
| Enhanced | |
| I. Commitment of HIPC assistance | Framework |
| Decision point date | Dec 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 date | Sep 2012 |
| II. Disbursement of IMF assistance (SDR Million) | |
| Assistance disbursed to the member | 27.80 |
| Interim assistance | 11.30 |
| Completion point balance | 16.49 |
| Additional disbursement of interest income4/ | 7.45 |
| Total disbursements | 35.25 |
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.
Implementation of Multilateral Debt Relief Initiative (MDRI): Not Applicable
Implementation of Catastrophe Containment and Relief (CCR):
| Date of Catastrophe | Board Decision Date | Amount Committed (SDR million) |
Amount Disbursed (SDR million) |
|---|---|---|---|
| N/A | Mar 18, 2015 | 21.42 | 21.42 |
| Date of Catastrophe | Board Decision Date | Amount Committed (SDR million) |
Amount Disbursed (SDR million) |
|---|---|---|---|
| N/A | Mar 18, 2015 | 21.42 | 21.42 |
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).
Safeguards Assessment
An update of the 2012 Safeguards Assessment of the Central Bank of the Republic of Guinea (BCRG) is currently underway in the context of the RCF approved in September 2014. The 2012 assessment found that risks of misuse and misreporting remained high. To mitigate risks to the program, staff proposed, inter alia, that: (i) the Board of the BCRG approve an investment policy and guidelines for the management of international reserves (approved on June 13, 2014 as a Prior Action for the 4th Review of the ECF); (ii) external auditors continue to verify monetary data; (iii) the BCRG publish audited annual financial statements within statutory deadlines; and (iv) the BCRG adopt and implement internationally-recognized financial reporting standards. These measures are needed in the short run, but equally important are steps to exercise better oversight on controls and to strengthen the autonomy of the central bank. The BCRG is working towards the implementation of these and other Safeguards Assessment recommendations.
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 arrangement is classified as other managed as of February 5, 2016. 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
| Provider | Main topic | Dates |
|---|---|---|
| AFW | Needs assessment (fiscal, real, financial sectors) | Feb 2011 |
| Fiscal affairs | ||
| FAD | Stocktaking and update of PFM strategy | Apr-May 2011 |
| AFW | PFM capacity building | April 2011 |
| AFW | Revenue Administration | April 2011 |
| FAD | Diagnostic Revenue Administration | May 2011 |
| AFW | PFM capacity building | May 2011 |
| AFW | Customs administration | May 2011 |
| AFW | Tax arrears management and other tax administration issues | May-June 2011 |
| FAD | PFM: Budget Execution | Aug-Sep 2011 |
| AFW | PFM: Chart of public accounts implementation | Sep 2011 |
| AFW | Customs: strengthening of human resources management | Oct 2011 |
| FAD | Tax policy: general and mining | Oct 2011 |
| AFW | Public Debt | Oct-Nov 2011 |
| AFW | Tax arrears and other tax administration issues | Nov 2011 |
| AFW | PFM capacity building | Nov 2011 |
| FAD | PFM: legal framework, installation of resident advisor | Nov-Dec 2011 |
| FAD | FAD resident advisor to the Treasury | Dec 2011-Mar 2013 |
| Monetary and Capital Markets | ||
| AFW | Banking supervision | Feb 2011 |
| AFW | Banking supervision | Mar-Apr 2011 |
| MCM | Foreign Exchange Management | Jul 2011 |
| AFW | Banking supervision and regulation | Oct-Nov 2011 |
| Statistics | ||
| AFW | National accounts | Feb 2011 |
| AFW | Public finance statistics | Mar 2011 |
| AFW | National accounts | Apr 2011 |
| AFW | Real Sector Statistics/Assistance with 1993 SNA implementation | Jul 2011 |
| AFW | Real Sector Statistics/National Accounts implementation | Dec 2011 |
| Provider | Main topic | Dates |
|---|---|---|
| AFW | Needs assessment (fiscal, real, financial sectors) | Feb 2011 |
| Fiscal affairs | ||
| FAD | Stocktaking and update of PFM strategy | Apr-May 2011 |
| AFW | PFM capacity building | April 2011 |
| AFW | Revenue Administration | April 2011 |
| FAD | Diagnostic Revenue Administration | May 2011 |
| AFW | PFM capacity building | May 2011 |
| AFW | Customs administration | May 2011 |
| AFW | Tax arrears management and other tax administration issues | May-June 2011 |
| FAD | PFM: Budget Execution | Aug-Sep 2011 |
| AFW | PFM: Chart of public accounts implementation | Sep 2011 |
| AFW | Customs: strengthening of human resources management | Oct 2011 |
| FAD | Tax policy: general and mining | Oct 2011 |
| AFW | Public Debt | Oct-Nov 2011 |
| AFW | Tax arrears and other tax administration issues | Nov 2011 |
| AFW | PFM capacity building | Nov 2011 |
| FAD | PFM: legal framework, installation of resident advisor | Nov-Dec 2011 |
| FAD | FAD resident advisor to the Treasury | Dec 2011-Mar 2013 |
| Monetary and Capital Markets | ||
| AFW | Banking supervision | Feb 2011 |
| AFW | Banking supervision | Mar-Apr 2011 |
| MCM | Foreign Exchange Management | Jul 2011 |
| AFW | Banking supervision and regulation | Oct-Nov 2011 |
| Statistics | ||
| AFW | National accounts | Feb 2011 |
| AFW | Public finance statistics | Mar 2011 |
| AFW | National accounts | Apr 2011 |
| AFW | Real Sector Statistics/Assistance with 1993 SNA implementation | Jul 2011 |
| AFW | Real Sector Statistics/National Accounts implementation | Dec 2011 |
Calendar Year 2012
| Provider | Main topic | Dates |
|---|---|---|
| Fiscal affairs | ||
| FAD | Government accounting, chart of accounts, budget organic law. | February 2-15, 2012 |
| FAD | Mining and General tax policy | February 9-10, 2012 |
| FAD | Cash management plan, Treasury Single Account, | March 3-15, 2012 |
| commitment plan, budget organic law, chart of accounts. | ||
| FAD | Mining tax policy | April - May 2012 |
| AFW | Treasury management | May - June 2012 |
| AFW | Customs administration | June 14-25, 2012 |
| FAD | Legal framework of public financial management | June - July, 2012 |
| FAD | Mining tax policy | July 1-14, 2012 |
| FAD | Mining tax policy | September 1-10, 2012 |
| FAD | Agreement on central bank advances | September 3-14, 2012 |
| FAD | Legal framework of public financial management | October 1-15, 2012 |
| FAD | Public expenditure | October 1-14, 2012 |
| AFW | Customs administration | November 14-23, 2012 |
| FAD | Public expenditure | December 1-21, 2012 |
| AFW | Tax administration | December 12-23, 2012 |
| FAD | Public financial management (resident advisor) | 2012-2013 |
| Legal | ||
| LEG | Legal drafting assistance on mining taxation | August 30-September 11, 2012 |
| Monetary and Capital Markets | ||
| AFW | Bank Supervision and Regulation | January 2012 |
| MCM | Central Banking (resident advisor) | Feb 2012-Feb 2013 |
| AFW | Bank Supervision and Regulation | February 2012 |
| AFW | Bank Supervision and Regulation | March 2012 |
| AFW | Bank Supervision and Regulation | September 2012 |
| AFW | Bank Supervision | Oct-Nov 2012 |
| Statistics | ||
| AFW | Real sector statistics, national accounts | Feb-Mar 2012 |
| STA | Balance of payments | Mar-Apr 2012 |
| AFW | National accounts | September 2012 |
| STA | Migration to GFSM 2001 | September 2012 |
| AFW | National accounts | November 2012 |
| Provider | Main topic | Dates |
|---|---|---|
| Fiscal affairs | ||
| FAD | Government accounting, chart of accounts, budget organic law. | February 2-15, 2012 |
| FAD | Mining and General tax policy | February 9-10, 2012 |
| FAD | Cash management plan, Treasury Single Account, | March 3-15, 2012 |
| commitment plan, budget organic law, chart of accounts. | ||
| FAD | Mining tax policy | April - May 2012 |
| AFW | Treasury management | May - June 2012 |
| AFW | Customs administration | June 14-25, 2012 |
| FAD | Legal framework of public financial management | June - July, 2012 |
| FAD | Mining tax policy | July 1-14, 2012 |
| FAD | Mining tax policy | September 1-10, 2012 |
| FAD | Agreement on central bank advances | September 3-14, 2012 |
| FAD | Legal framework of public financial management | October 1-15, 2012 |
| FAD | Public expenditure | October 1-14, 2012 |
| AFW | Customs administration | November 14-23, 2012 |
| FAD | Public expenditure | December 1-21, 2012 |
| AFW | Tax administration | December 12-23, 2012 |
| FAD | Public financial management (resident advisor) | 2012-2013 |
| Legal | ||
| LEG | Legal drafting assistance on mining taxation | August 30-September 11, 2012 |
| Monetary and Capital Markets | ||
| AFW | Bank Supervision and Regulation | January 2012 |
| MCM | Central Banking (resident advisor) | Feb 2012-Feb 2013 |
| AFW | Bank Supervision and Regulation | February 2012 |
| AFW | Bank Supervision and Regulation | March 2012 |
| AFW | Bank Supervision and Regulation | September 2012 |
| AFW | Bank Supervision | Oct-Nov 2012 |
| Statistics | ||
| AFW | Real sector statistics, national accounts | Feb-Mar 2012 |
| STA | Balance of payments | Mar-Apr 2012 |
| AFW | National accounts | September 2012 |
| STA | Migration to GFSM 2001 | September 2012 |
| AFW | National accounts | November 2012 |
Calendar Year 2013
| Provider | Main topic | Dates |
|---|---|---|
| Fiscal Affairs | ||
| FAD | Manual on budget execution (1/2) | January 28-February 15, 2013 |
| FAD | Budget preparation framework (1/2) | January 29-February 1, 2013 |
| FAD | TSA implementation (follow up) | February 6-15, 2013 |
| FAD | Budget preparation framework (2/2) | March 4-8, 2013 |
| FAD | PEFA assessment | March 20-April 3, 2013 |
| FAD | Extrabudgetary entities framework | April 29-May 3, 2013 |
| FAD | Manual on budget execution (2/2) | April 15-26, 2013 |
| FAD | Public financial management | April 8-19 |
| FAD | PEFA dissemination and reform strategy | May 15-22, 2013 |
| FAD | Tax administration | June 17- 28, 203 |
| FAD | Public financial management | September 2-13, 2013 |
| FAD | VAT credit refund in the mining sector | November 18-22, 2013 |
| FAD | Customs Administration | December 9-13, 2013 |
| FAD | Public financial management | December 9-20, 2014 |
| FAD | Public financial management (Resident advisor) | 2013 |
| Money and Capital Markets | ||
| AFW | Bank Supervision and Regulation in Guinea | February 4-22, 2013 |
| AFW | Analysis of Debt Portfolio | April 8-19, 2013 |
| AFW | Bank Supervision | May 13-24, 2013 |
| AFW | Bank Supervision | December 1-13, 2013 |
| AFW | Bank Supervision and Regulation in Guinea | December 2-13, 2013 |
| MCM | Central Banking (Resident advisor) | 2013 |
| Legal | ||
| LEG | Central Banking Legislation | March, 2013 |
| Statistics | ||
| AFW | Migration to GFSM 2001 | April 8-19, 2013 |
| AFW | National accounts | May 13-24, 2013 |
| AFW | Government finance statistics | May 22-31, 2013 |
| Provider | Main topic | Dates |
|---|---|---|
| Fiscal Affairs | ||
| FAD | Manual on budget execution (1/2) | January 28-February 15, 2013 |
| FAD | Budget preparation framework (1/2) | January 29-February 1, 2013 |
| FAD | TSA implementation (follow up) | February 6-15, 2013 |
| FAD | Budget preparation framework (2/2) | March 4-8, 2013 |
| FAD | PEFA assessment | March 20-April 3, 2013 |
| FAD | Extrabudgetary entities framework | April 29-May 3, 2013 |
| FAD | Manual on budget execution (2/2) | April 15-26, 2013 |
| FAD | Public financial management | April 8-19 |
| FAD | PEFA dissemination and reform strategy | May 15-22, 2013 |
| FAD | Tax administration | June 17- 28, 203 |
| FAD | Public financial management | September 2-13, 2013 |
| FAD | VAT credit refund in the mining sector | November 18-22, 2013 |
| FAD | Customs Administration | December 9-13, 2013 |
| FAD | Public financial management | December 9-20, 2014 |
| FAD | Public financial management (Resident advisor) | 2013 |
| Money and Capital Markets | ||
| AFW | Bank Supervision and Regulation in Guinea | February 4-22, 2013 |
| AFW | Analysis of Debt Portfolio | April 8-19, 2013 |
| AFW | Bank Supervision | May 13-24, 2013 |
| AFW | Bank Supervision | December 1-13, 2013 |
| AFW | Bank Supervision and Regulation in Guinea | December 2-13, 2013 |
| MCM | Central Banking (Resident advisor) | 2013 |
| Legal | ||
| LEG | Central Banking Legislation | March, 2013 |
| Statistics | ||
| AFW | Migration to GFSM 2001 | April 8-19, 2013 |
| AFW | National accounts | May 13-24, 2013 |
| AFW | Government finance statistics | May 22-31, 2013 |
Calendar Year 2014
| Provider | Main Topic | Dates |
|---|---|---|
| Fiscal Affairs | ||
| FAD | Fiscal forecasting and budgeting | February 10-24, 2014 |
| FAD | VAT refund mechanisms for the mining sector and PFM governance | January 29 - February 6, 2014 |
| Monetary and Capital Markets | ||
| MCM | Reserve Management | January 30 - February 7, 2014 |
| AFW | Bank Supervision | March 3-14, 2014 |
| MCM | Central Banking Resident Advisor | 2013 - 2014 |
| Statistics | ||
| AFW | National Accounts | January 6-17, 2014 |
| STA | Financial Soundness Indicators | April 14-18, 2014 |
| Provider | Main Topic | Dates |
|---|---|---|
| Fiscal Affairs | ||
| FAD | Fiscal forecasting and budgeting | February 10-24, 2014 |
| FAD | VAT refund mechanisms for the mining sector and PFM governance | January 29 - February 6, 2014 |
| Monetary and Capital Markets | ||
| MCM | Reserve Management | January 30 - February 7, 2014 |
| AFW | Bank Supervision | March 3-14, 2014 |
| MCM | Central Banking Resident Advisor | 2013 - 2014 |
| Statistics | ||
| AFW | National Accounts | January 6-17, 2014 |
| STA | Financial Soundness Indicators | April 14-18, 2014 |
Calendar Year 2015
| Provider | Main Topic | Dates |
|---|---|---|
| Fiscal Affairs | ||
| FAD | PFM Strategy and MT Framework | February 3 - 12, 2015 |
| FAD | Budget Classification | February 16 - 25, 2015 |
| FAD | Fiscal Governance of Parastatals and Natural Resources | February 3 - 10, 2015 |
| FAD | JSA7 Project Inception | June 3 - 16, 2015 |
| AFW | PFM Strategy | July 27 - August 7, 2015 |
| AFW | Tax Administration | September 21 - October 2, 2015 |
| Monetary and Capital Markets | ||
| AFW | Bank Supervision | June 1 -12, 2015 |
| AFW | Bank Supervision | November 11 - December 4, 2015 |
| MCM | FX Market Development and Liquidity Management | November 30 - December 10, 2015 |
| Statistics | ||
| AFW | Government Finance Statistics | November 14 - 25, 2015 |
| Provider | Main Topic | Dates |
|---|---|---|
| Fiscal Affairs | ||
| FAD | PFM Strategy and MT Framework | February 3 - 12, 2015 |
| FAD | Budget Classification | February 16 - 25, 2015 |
| FAD | Fiscal Governance of Parastatals and Natural Resources | February 3 - 10, 2015 |
| FAD | JSA7 Project Inception | June 3 - 16, 2015 |
| AFW | PFM Strategy | July 27 - August 7, 2015 |
| AFW | Tax Administration | September 21 - October 2, 2015 |
| Monetary and Capital Markets | ||
| AFW | Bank Supervision | June 1 -12, 2015 |
| AFW | Bank Supervision | November 11 - December 4, 2015 |
| MCM | FX Market Development and Liquidity Management | November 30 - December 10, 2015 |
| Statistics | ||
| AFW | Government Finance Statistics | November 14 - 25, 2015 |
Calendar Year 2016
Planned.
| Provider | Main Topic | Dates |
|---|---|---|
| Fiscal Affairs | ||
| FAD | Natural Resource Management | January 13 - 26, 2016 |
| FAD | SOEs and Fiscal Risks | January 13 - 24, 2016 |
| FAD | Revenue Administration | March 1 - 14, 2016 1 |
| AFW | PFM Resident Advisor | March 3 - 18, 2016 1 |
| FAD | Natural Resource Management | March 3 - 18, 2016 1 |
| FAD | Natural Resource Management | April 4 - 10, 2016 1 |
| AFW | Customs | April 18 - , 2016 1 |
| FAD | PFM Resident Advisor | 2016 -2017 |
| Monetary and Capital Markets | ||
| AFW | Debt Management | February 2 - March 4, 2016 |
| MCM | Monetary and FX Operations | March 9 - 22, 2016 |
| AFW | Bank Supervision | March 14 - 25, 2016 |
| Statistics | ||
| AFW | National Accounts Compilation | February 2 - 19, 2016 |
| AFW | Government Finance Statistics | March 14 - 18, 2016 |
Planned.
| Provider | Main Topic | Dates |
|---|---|---|
| Fiscal Affairs | ||
| FAD | Natural Resource Management | January 13 - 26, 2016 |
| FAD | SOEs and Fiscal Risks | January 13 - 24, 2016 |
| FAD | Revenue Administration | March 1 - 14, 2016 1 |
| AFW | PFM Resident Advisor | March 3 - 18, 2016 1 |
| FAD | Natural Resource Management | March 3 - 18, 2016 1 |
| FAD | Natural Resource Management | April 4 - 10, 2016 1 |
| AFW | Customs | April 18 - , 2016 1 |
| FAD | PFM Resident Advisor | 2016 -2017 |
| Monetary and Capital Markets | ||
| AFW | Debt Management | February 2 - March 4, 2016 |
| MCM | Monetary and FX Operations | March 9 - 22, 2016 |
| AFW | Bank Supervision | March 14 - 25, 2016 |
| Statistics | ||
| AFW | National Accounts Compilation | February 2 - 19, 2016 |
| AFW | Government Finance Statistics | March 14 - 18, 2016 |
Planned.
Joint World Bank-Fund Matrix
(As of February 2016)
| Title | Products | Expected delivery date |
|---|---|---|
| World Bank work program in the next 12 months | Operations: | |
| Mineral Advisory Facility | Ongoing | |
| Social Safety Nets Project | Q2 2016 | |
| Health Services Project | Q2 2016 | |
| Budget Support Lending (DPO) | Q2 2016 | |
| Economic and Sector Work: | ||
| Public Expenditure Review (revenue mobilization, public investment management, state-owned enterprises, domestic debt) | Q2 2016 | |
| Mobile Phone Survey of Socio-Economic Impact of Ebola | Q1 2016 | |
| Technical assistance/other analytical: | ||
| Boosting budget execution | Ongoing | |
| Economic and Poverty Monitoring | Ongoing | |
| Support on EITI implementation | Ongoing | |
| IMF work program in the next 12 months | Program: | |
| Sixth and Seventh reviews under the ECF | March 2016 | |
| Article IV Consultation | June 2016 | |
| Eight review under the ECF | September 2016 | |
| Technical Assistance: | ||
| Mining and general tax policy | Ongoing | |
| Public financial management | Ongoing | |
| Monetary and exchange rate policy | Ongoing | |
| Banking supervision | Ongoing | |
| National and fiscal accounts, balance of payments | Ongoing | |
| Fund requests to the Bank | Audit of public investment projects | Ongoing |
| Assessment of the electricity reform plan and budgetary implications Update of poverty analysis | Ongoing | |
| Assessment of the major project to build a dam using a PPP framework | Ongoing | |
| Assessment of reforms in agriculture and the budget implications | Ongoing | |
| Information sharing on the financing of the large iron ore project | Ongoing | |
| Bank requests to Fund | Regular updates on macro-economic and fiscal projections | Ongoing |
| Consultations on program structural benchmarks | Ongoing | |
| Surveillance of fiscal impact of mining sector reforms | Ongoing | |
| Joint Bank-Fund products | Debt Sustainability Analysis | Q1 2016 |
| Joint Bank-Fund Support for Medium-Term Debt Strategy | Q3 2016 |
| Title | Products | Expected delivery date |
|---|---|---|
| World Bank work program in the next 12 months | Operations: | |
| Mineral Advisory Facility | Ongoing | |
| Social Safety Nets Project | Q2 2016 | |
| Health Services Project | Q2 2016 | |
| Budget Support Lending (DPO) | Q2 2016 | |
| Economic and Sector Work: | ||
| Public Expenditure Review (revenue mobilization, public investment management, state-owned enterprises, domestic debt) | Q2 2016 | |
| Mobile Phone Survey of Socio-Economic Impact of Ebola | Q1 2016 | |
| Technical assistance/other analytical: | ||
| Boosting budget execution | Ongoing | |
| Economic and Poverty Monitoring | Ongoing | |
| Support on EITI implementation | Ongoing | |
| IMF work program in the next 12 months | Program: | |
| Sixth and Seventh reviews under the ECF | March 2016 | |
| Article IV Consultation | June 2016 | |
| Eight review under the ECF | September 2016 | |
| Technical Assistance: | ||
| Mining and general tax policy | Ongoing | |
| Public financial management | Ongoing | |
| Monetary and exchange rate policy | Ongoing | |
| Banking supervision | Ongoing | |
| National and fiscal accounts, balance of payments | Ongoing | |
| Fund requests to the Bank | Audit of public investment projects | Ongoing |
| Assessment of the electricity reform plan and budgetary implications Update of poverty analysis | Ongoing | |
| Assessment of the major project to build a dam using a PPP framework | Ongoing | |
| Assessment of reforms in agriculture and the budget implications | Ongoing | |
| Information sharing on the financing of the large iron ore project | Ongoing | |
| Bank requests to Fund | Regular updates on macro-economic and fiscal projections | Ongoing |
| Consultations on program structural benchmarks | Ongoing | |
| Surveillance of fiscal impact of mining sector reforms | Ongoing | |
| Joint Bank-Fund products | Debt Sustainability Analysis | Q1 2016 |
| Joint Bank-Fund Support for Medium-Term Debt Strategy | Q3 2016 |
Relations with the African Development Bank, 2011–15
(As of February 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, started during the second half of 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. 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 2017, the Bank will conduct in close coordination with the IMF a Debt Sustainability Analysis to assess whether Guinea can access the Bank’s ADB window to finance key infrastructure projects. 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-June 2016 an urgent budget support operation (UA 10.5 million) targeting public financial management and the business climate. In addition, the Bank intends to submit for Board approval 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 two small dedicated capacity building operations targeting: (i) budget management for UA 2 million (revenue generation and fiscal space); and (ii) 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, 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.
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.
Guinea: ADF 13 (2011–16) and FSF Operations Programming
(UA million)
Guinea: ADF 13 (2011–16) and FSF Operations Programming
(UA million)
| Lending Operations | |||||
| Year | ADF/ADB 12/13 | FSF (Pillar III) | Regional & Other Funds | Total | |
| Pillar I–Economic and Financial Governance Support | |||||
| Budget support | 2011 | 20.0 | 20.0 | ||
| Targeted support | 2011 | 2.5 | 2.5 | ||
| Budget support | 2014/15 | 12.0 | 12.0 | ||
| Capacity building (Mining One-Stop Shop and Simandou) | 2016 | 6.0 | 2.0 | 8.0 | |
| Targeted support for capacity building (PFM, revenue mobilization, business climate) | 2016 | 2.0 | 2.0 | ||
| Agriculture (Governance, entrepreneurship, and financing) | 2017 | 10.0 | 10.0 | ||
| Sub-Total | 48.0 | 8.5 | 56.5 | ||
| Pillar II–Infrastructure Support (Energy, Transport, etc.) | |||||
| CLSG Interconnection (electricity) | 2013 | 16.0 | 24.2 | 40.2 | |
| Rehabilitation of electric power networks | 2013 | 11.0 | 11.0 | ||
| Institutional support project - Public investment management and mining | 2013 | 11.4 | 11.4 | ||
| Mano River Union road (CI-Liberia, linked to Mali) | 2014 | 13.1 | 20.3 | 33.3 | |
| OMVG | 2015 | 20.0 | 30.0 | 50.0 | |
| Coyah-Farmoriah-Pamelap road including a study for the Kankan-Mandiana-Odiene project | 2017 | 33.0 | 21.0 | 54.0 | |
| Boké-Quebo road | 2017 | 33.0 | 21.0 | 54.0 | |
| Rural water supply | 2017 | 10.0 | 5.0 | 15.0 | |
| Guinea-Mali interconnection (energy) | 2017 | 35.0 | 35.0 | ||
| Sub-Total | 182.5 | 121.5 | 303.9 | ||
| Total | 230.5 | 8.5 | 121.5 | 360.4 | |
| Economic and Sector Work | |||||
| Study on financial sector reforms | 2013 | × | |||
| Private sector profile | 2015 | × | |||
| Guinea Vision 2035 | 2016 | × | |||
| Local taxation | 2015 | × | |||
| PPP law | 2016 | × | |||
Guinea: ADF 13 (2011–16) and FSF Operations Programming
(UA million)
| Lending Operations | |||||
| Year | ADF/ADB 12/13 | FSF (Pillar III) | Regional & Other Funds | Total | |
| Pillar I–Economic and Financial Governance Support | |||||
| Budget support | 2011 | 20.0 | 20.0 | ||
| Targeted support | 2011 | 2.5 | 2.5 | ||
| Budget support | 2014/15 | 12.0 | 12.0 | ||
| Capacity building (Mining One-Stop Shop and Simandou) | 2016 | 6.0 | 2.0 | 8.0 | |
| Targeted support for capacity building (PFM, revenue mobilization, business climate) | 2016 | 2.0 | 2.0 | ||
| Agriculture (Governance, entrepreneurship, and financing) | 2017 | 10.0 | 10.0 | ||
| Sub-Total | 48.0 | 8.5 | 56.5 | ||
| Pillar II–Infrastructure Support (Energy, Transport, etc.) | |||||
| CLSG Interconnection (electricity) | 2013 | 16.0 | 24.2 | 40.2 | |
| Rehabilitation of electric power networks | 2013 | 11.0 | 11.0 | ||
| Institutional support project - Public investment management and mining | 2013 | 11.4 | 11.4 | ||
| Mano River Union road (CI-Liberia, linked to Mali) | 2014 | 13.1 | 20.3 | 33.3 | |
| OMVG | 2015 | 20.0 | 30.0 | 50.0 | |
| Coyah-Farmoriah-Pamelap road including a study for the Kankan-Mandiana-Odiene project | 2017 | 33.0 | 21.0 | 54.0 | |
| Boké-Quebo road | 2017 | 33.0 | 21.0 | 54.0 | |
| Rural water supply | 2017 | 10.0 | 5.0 | 15.0 | |
| Guinea-Mali interconnection (energy) | 2017 | 35.0 | 35.0 | ||
| Sub-Total | 182.5 | 121.5 | 303.9 | ||
| Total | 230.5 | 8.5 | 121.5 | 360.4 | |
| Economic and Sector Work | |||||
| Study on financial sector reforms | 2013 | × | |||
| Private sector profile | 2015 | × | |||
| Guinea Vision 2035 | 2016 | × | |||
| Local taxation | 2015 | × | |||
| PPP law | 2016 | × | |||
Millennium Development Goals1
Figures in italics refer to periods other than those specified.
| 1990 | 1995 | 2000 | 2005 | 2014 | 2014 Sub-Saharan Africa | 2015 MDG Target | ||
|---|---|---|---|---|---|---|---|---|
| Goal 1: Eradicate extreme poverty and hunger | Halve | |||||||
| Employment to population ratio, 15+, total (%) | 69 | 69 | 70 | 70 | 71 | 65 | ||
| Employment to population ratio, ages 15-24, total (%) | 52 | 52 | 52 | 53 | 54 | 47 | ||
| GDP per person employed (constant 1990 PPP $) | … | … | … | … | … | … | ||
| Income share held by lowest 20% | 3 | 5 | … | 6 | … | … | ||
| Malnutrition prevalence, weight for age (% of children under 5) | … | … | 29 | 23 | … | … | 13 | |
| Poverty gap at $1.90 a day (2011 PPP) (%) | 63 | 19 | 26 | 24 | … | … | … | |
| Poverty headcount ratio at $1.25 a day (PPP) (% of population) | 92 | 49 | 62 | 60 | … | … | … | |
| Vulnerable employment, total (% of total employment) | … | … | … | … | … | … | … | |
| Goal 2: Achieve universal primary education | 100 | |||||||
| Literacy rate, youth female (% of female ages 15-24) | … | 13 | .. | 30 | … | … | 100 | |
| Literacy rate, youth male (% of males ages 15-24) | … | 44 | … | 34 | … | … | ||
| Persistence to last grade of primary, total (% of cohort) | 47 | … | … | 74 | … | 100 | ||
| Primary completion rate, total (% of relevant age group) | 20 | 19 | 31 | 55 | 62 | 69 | 100 | |
| Total enrolllment, primary (% net) | 26 | … | 45 | 65 | 75 | 77 | 100 | |
| Goal 3: Promote gender equality and empower women | 100 | |||||||
| Proportion of seats held by women in national parliament (%) | … | … | 9 | 19 | 22 | 22 | 100 | |
| Ratio of female to male primary enrollment (%) | 45 | 51 | 67 | 80 | 85 | 93 | 100 | |
| Ratio of female to male secondary enrollment (%) | 32 | 33 | 35 | 50 | … | 86 | ||
| Ratio of female to male tertiary enrollment (%) | 9 | 7 | … | 23 | 44 | 73 | ||
| 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) | 35 | 61 | 42 | 51 | 52 | 73 | ||
| Mortality rate, infant (per 1,000 births) | 141 | 122 | 103 | 85 | 63 | 58 | ||
| Mortality rate, under 5 (per 1,000) | 238 | 206 | 170 | 137 | 97 | 86 | 78 | |
| Goal 5: Improve maternal health | ||||||||
| Births attended by skilled health staff (% of total) | … | … | … | 38 | … | … | ||
| Maternal mortality ratio (modeled estimate, per 100,000 live births) | 1,040 | 964 | 976 | 695 | 688 | 560 | >75% reduction | |
| Contraceptive prevalence (% of women ages 15-49) | … | 2 | 6 | 9 | … | … | ||
| Goal 6: Combat HIV/AIDS, malaria and other diseases | Halt/reverse | |||||||
| Incidence of tuberculosis (per 100,000 people) | 249 | 250 | 228 | 210 | 177 | … | Halt/reverse | |
| Prevalence of HIV, female (% ages 15-24) | 1 | 1 | 1 | 1 | 1 | 2 | Halt/reverse | |
| Prevalence of HIV, male (% ages 15-24) | 0 | 1 | 0 | 0 | 0 | 1 | Halt/reverse | |
| Prevalence of HIV, total (% ages 15-49) | 1 | 2 | 2 | 2 | 2 | 5 | Halt/reverse | |
| Tuberculosis case detection rate (%, all forms) | 13 | 18 | 27 | 34 | 54 | 51 | Halt/reverse | |
| Goal 7: Ensure environmental sustainability | ||||||||
| CO2 emissions (kg per PPP $b of GDP) | 0 | 0 | 0 | 0 | … | … | ||
| CO2 emissions (metric tons per capita) | 0 | 0 | 0 | 0 | … | … | ||
| Forest area (% of land area) | 30 | 29 | 28 | 27 | 26 | 26 | ||
| Improved sanitation facilities (% of population with access) | 8 | 11 | 13 | 15 | 20 | 29 | 57 | |
| Improved water source (% of population with access) | 52 | 58 | 63 | 68 | 77 | 67 | 72 | |
| Marine protected areas (% of territorial waters) | … | … | 4 | … | … | … | ||
| Net ODA received percapita (current US$) | 48 | 53 | 17 | 21 | 43 | 50 | ||
| Goal 8: Develop a global partnership for development | ||||||||
| Debt service (PPG and IMF only, % of exports, excluding workers’ remittances) | 20 | 24 | 15 | 13 | 4 | 5 | ||
| Internet users (per 100 people) | 0 | 0 | 0 | 1 | 2 | 19 | ||
| Telephone lines (per 100 people) | 0 | 0 | 0 | 0 | … | … | ||
| Fertility rate, total (births per woman) | 7 | 6 | 6 | 6 | 5 | 5 | ||
| Other goals and indicators | ||||||||
| GNI per capita, Atlas method (current US$) | 430 | 470 | 380 | 340 | 470 | 1709 | ||
| GNI, Atlas method (current US$ billions) | 3 | 4 | 3 | 3 | 6 | 1665 | ||
| Gross capital formation (% of GDP) | 25 | 21 | 20 | 20 | 14 | 22 | ||
| Life expectancy at birth, total (years) | 50 | 52 | 51 | 53 | 56 | 57 | ||
| Literacy rate, adult total (% of people, ages 15 and above) | … | 21 | 30 | … | … | … | ||
| Population, total (millions) | 6 | 8 | 9 | 10 | 12 | 948 | ||
| Trade (% of GDP) | 65 | 46 | 53 | 70 | 81 | 62 | ||
Figures in italics refer to periods other than those specified.
| 1990 | 1995 | 2000 | 2005 | 2014 | 2014 Sub-Saharan Africa | 2015 MDG Target | ||
|---|---|---|---|---|---|---|---|---|
| Goal 1: Eradicate extreme poverty and hunger | Halve | |||||||
| Employment to population ratio, 15+, total (%) | 69 | 69 | 70 | 70 | 71 | 65 | ||
| Employment to population ratio, ages 15-24, total (%) | 52 | 52 | 52 | 53 | 54 | 47 | ||
| GDP per person employed (constant 1990 PPP $) | … | … | … | … | … | … | ||
| Income share held by lowest 20% | 3 | 5 | … | 6 | … | … | ||
| Malnutrition prevalence, weight for age (% of children under 5) | … | … | 29 | 23 | … | … | 13 | |
| Poverty gap at $1.90 a day (2011 PPP) (%) | 63 | 19 | 26 | 24 | … | … | … | |
| Poverty headcount ratio at $1.25 a day (PPP) (% of population) | 92 | 49 | 62 | 60 | … | … | … | |
| Vulnerable employment, total (% of total employment) | … | … | … | … | … | … | … | |
| Goal 2: Achieve universal primary education | 100 | |||||||
| Literacy rate, youth female (% of female ages 15-24) | … | 13 | .. | 30 | … | … | 100 | |
| Literacy rate, youth male (% of males ages 15-24) | … | 44 | … | 34 | … | … | ||
| Persistence to last grade of primary, total (% of cohort) | 47 | … | … | 74 | … | 100 | ||
| Primary completion rate, total (% of relevant age group) | 20 | 19 | 31 | 55 | 62 | 69 | 100 | |
| Total enrolllment, primary (% net) | 26 | … | 45 | 65 | 75 | 77 | 100 | |
| Goal 3: Promote gender equality and empower women | 100 | |||||||
| Proportion of seats held by women in national parliament (%) | … | … | 9 | 19 | 22 | 22 | 100 | |
| Ratio of female to male primary enrollment (%) | 45 | 51 | 67 | 80 | 85 | 93 | 100 | |
| Ratio of female to male secondary enrollment (%) | 32 | 33 | 35 | 50 | … | 86 | ||
| Ratio of female to male tertiary enrollment (%) | 9 | 7 | … | 23 | 44 | 73 | ||
| 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) | 35 | 61 | 42 | 51 | 52 | 73 | ||
| Mortality rate, infant (per 1,000 births) | 141 | 122 | 103 | 85 | 63 | 58 | ||
| Mortality rate, under 5 (per 1,000) | 238 | 206 | 170 | 137 | 97 | 86 | 78 | |
| Goal 5: Improve maternal health | ||||||||
| Births attended by skilled health staff (% of total) | … | … | … | 38 | … | … | ||
| Maternal mortality ratio (modeled estimate, per 100,000 live births) | 1,040 | 964 | 976 | 695 | 688 | 560 | >75% reduction | |
| Contraceptive prevalence (% of women ages 15-49) | … | 2 | 6 | 9 | … | … | ||
| Goal 6: Combat HIV/AIDS, malaria and other diseases | Halt/reverse | |||||||
| Incidence of tuberculosis (per 100,000 people) | 249 | 250 | 228 | 210 | 177 | … | Halt/reverse | |
| Prevalence of HIV, female (% ages 15-24) | 1 | 1 | 1 | 1 | 1 | 2 | Halt/reverse | |
| Prevalence of HIV, male (% ages 15-24) | 0 | 1 | 0 | 0 | 0 | 1 | Halt/reverse | |
| Prevalence of HIV, total (% ages 15-49) | 1 | 2 | 2 | 2 | 2 | 5 | Halt/reverse | |
| Tuberculosis case detection rate (%, all forms) | 13 | 18 | 27 | 34 | 54 | 51 | Halt/reverse | |
| Goal 7: Ensure environmental sustainability | ||||||||
| CO2 emissions (kg per PPP $b of GDP) | 0 | 0 | 0 | 0 | … | … | ||
| CO2 emissions (metric tons per capita) | 0 | 0 | 0 | 0 | … | … | ||
| Forest area (% of land area) | 30 | 29 | 28 | 27 | 26 | 26 | ||
| Improved sanitation facilities (% of population with access) | 8 | 11 | 13 | 15 | 20 | 29 | 57 | |
| Improved water source (% of population with access) | 52 | 58 | 63 | 68 | 77 | 67 | 72 | |
| Marine protected areas (% of territorial waters) | … | … | 4 | … | … | … | ||
| Net ODA received percapita (current US$) | 48 | 53 | 17 | 21 | 43 | 50 | ||
| Goal 8: Develop a global partnership for development | ||||||||
| Debt service (PPG and IMF only, % of exports, excluding workers’ remittances) | 20 | 24 | 15 | 13 | 4 | 5 | ||
| Internet users (per 100 people) | 0 | 0 | 0 | 1 | 2 | 19 | ||
| Telephone lines (per 100 people) | 0 | 0 | 0 | 0 | … | … | ||
| Fertility rate, total (births per woman) | 7 | 6 | 6 | 6 | 5 | 5 | ||
| Other goals and indicators | ||||||||
| GNI per capita, Atlas method (current US$) | 430 | 470 | 380 | 340 | 470 | 1709 | ||
| GNI, Atlas method (current US$ billions) | 3 | 4 | 3 | 3 | 6 | 1665 | ||
| Gross capital formation (% of GDP) | 25 | 21 | 20 | 20 | 14 | 22 | ||
| Life expectancy at birth, total (years) | 50 | 52 | 51 | 53 | 56 | 57 | ||
| Literacy rate, adult total (% of people, ages 15 and above) | … | 21 | 30 | … | … | … | ||
| Population, total (millions) | 6 | 8 | 9 | 10 | 12 | 948 | ||
| Trade (% of GDP) | 65 | 46 | 53 | 70 | 81 | 62 | ||
Figures in italics refer to periods other than those specified.
Statistical Issues
(As of March 1, 2016)
Guinea: Statistical Issues Appendix
Guinea: Statistical Issues Appendix
| 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. |
Guinea: Statistical Issues Appendix
| 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 March 1, 2016)
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).
Table of Common Indicators Required for Surveillance
(As of March 1, 2016)
| Date of Latest Information | Date Received | Frequency of Data6 | Frequency of Reporting6 | Frequency of Publication6 | |
|---|---|---|---|---|---|
| Exchange Rates | 03/01/2016 | 03/01/2016 | D | D | D |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | 12/31/2015 | 01/26/2016 | M | M | M |
| Reserve/Base money | 12/31/2015 | 01/26/2016 | M | M | M |
| Broad Money | 12/31/2015 | 01/26/2016 | M | M | M |
| Central Bank Balance Sheet | 12/31/2015 | 01/26/2016 | M | M | M |
| Consolidated Balance Sheet of the Banking System | 12/31/2015 | 01/26/2016 | M | M | M |
| Interest Rates2 | 12/31/2015 | 01/26/2016 | M | M | M |
| Consumer Price Index | 12/31/2015 | 01/25/2016 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing3 - General Government4 | NA | NA | NA | NA | NA |
| Revenue, Expenditure, Balance and Composition of Financing3 - Central Government | 12/31/2015 | 01/31/2016 | M | M | M |
| Stocks of Central Government and Central Government - Guaranteed Debt5 | 12/31/2014 | 04/24/2015 | A | A | A |
| External Current Account Balance | 09/30/2015 | 12/31/2015 | Q | NA | A |
| Exports and Imports of Goods and Services | 09/30/2015 | 12/31/2015 | Q | NA | A |
| GDP/GNP | 12/31/2011 | 3/1/2014 | A | A | A |
| Gross External Debt | 12/31/2015 | 02/24/2016 | A | A | A |
| International Investment Position | NA | NA | NA | NA | 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).
Table of Common Indicators Required for Surveillance
(As of March 1, 2016)
| Date of Latest Information | Date Received | Frequency of Data6 | Frequency of Reporting6 | Frequency of Publication6 | |
|---|---|---|---|---|---|
| Exchange Rates | 03/01/2016 | 03/01/2016 | D | D | D |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | 12/31/2015 | 01/26/2016 | M | M | M |
| Reserve/Base money | 12/31/2015 | 01/26/2016 | M | M | M |
| Broad Money | 12/31/2015 | 01/26/2016 | M | M | M |
| Central Bank Balance Sheet | 12/31/2015 | 01/26/2016 | M | M | M |
| Consolidated Balance Sheet of the Banking System | 12/31/2015 | 01/26/2016 | M | M | M |
| Interest Rates2 | 12/31/2015 | 01/26/2016 | M | M | M |
| Consumer Price Index | 12/31/2015 | 01/25/2016 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing3 - General Government4 | NA | NA | NA | NA | NA |
| Revenue, Expenditure, Balance and Composition of Financing3 - Central Government | 12/31/2015 | 01/31/2016 | M | M | M |
| Stocks of Central Government and Central Government - Guaranteed Debt5 | 12/31/2014 | 04/24/2015 | A | A | A |
| External Current Account Balance | 09/30/2015 | 12/31/2015 | Q | NA | A |
| Exports and Imports of Goods and Services | 09/30/2015 | 12/31/2015 | Q | NA | A |
| GDP/GNP | 12/31/2011 | 3/1/2014 | A | A | A |
| Gross External Debt | 12/31/2015 | 02/24/2016 | A | A | A |
| International Investment Position | NA | NA | NA | NA | 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).