BISSAU, July 1 (Xinhua) -- The International Monetary Fund (IMF) will disburse 6.5 million U.S. dollars to Guinea-Bissau following the approval of the eighth review of the country's Extended Credit Facility (ECF) program, the Ministry of Finance announced Tuesday.
"The Executive Board of the IMF has approved the eighth review of the financial adjustment program, enabling the immediate disbursement of 6.5 million U.S. dollars to Guinea-Bissau," the ministry said via its official Facebook page.
This new disbursement brings the total amount released under the ECF for Guinea-Bissau to about 48.1 million dollars.
However, the IMF said that Guinea-Bissau's performance under the program has been mixed. According to the Ministry of Finance, the country met seven out of nine quantitative performance criteria and three out of four structural benchmarks as of the end of December 2024.
Guinea-Bissau resumed its financial cooperation with the IMF in 2022, aiming to ensure the sustainability of its public debt, support economic recovery and create fiscal space to promote sustainable and inclusive growth.
