The International Monetary Fund (IMF) has approved the disbursement of US$20.47million under the Rapid Credit Facility (RCF) to help Guinea-Bissau meet urgent balance of payments and fiscal needs stemming from the COVID-19 pandemic.
The IMF assistance will help support critical spending in health, social protection and investment to underpin the recovery as well as catalyze additional donor resources.
IMF said The authorities Guinea-Bissau have responded quickly to a very severe shock, scaling up health-related spending, deploying containment and mitigation measures, along with a commitment to enhanced transparency.