IMF approves $20.47 million emergency assistance for Guinea-Bissau to address COVID-19 crisis

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.

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