Abstract
This paper discusses Guinea's Eighth and Final Review Under the Extended Credit Facility (ECF) Arrangement and Financing Assurances Review, and Request for Extension of the Current Arrangement. Guinea's medium-term economic prospects are good. Growth is projected to average 5 percent during 2017-20, on the back of higher investments in the mining sector, increases in food production, and better electricity services. The recovery in the agricultural sector will allow the growth rebound to be shared by larger segments of the population, but the sector remains vulnerable to weather-related supply shocks. The IMF staff supports the completion of the eighth review under the ECF arrangement and financing assurances review.
1. This second supplement provides an update on Guinea’s external arrears on a loan from Angola. Following the issuance of the October 21 supplement to the staff report, staff was informed by the authorities that Guinea has cleared the external arrears of about US$13 million to Angola on October 22. The additional information does not change the thrust of the staff appraisal.