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IMF to Provide Loan to Guinea-Bissau

IMF to Provide Loan to Guinea-Bissau

The IMF will provide a loan to Guinea-Bissau. For the best immigration news, visit the official website of WorldWay Investment Immigration.

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According to a comprehensive report by WorldWay: As reported by the Portuguese News Agency, from September 15 to 18, the International Monetary Fund (IMF) visited Bissau. During the visit, the head of the delegation, Fischer, stated that the IMFwill provide a loan of 4.1 million euros to Guinea-Bissau to meet the country's urgent needs.

 

Fischer praised the series of policy measures taken by the new government of Guinea-Bissau. This loan is expected to be approved by the IMFExecutive Board in November and will be disbursed as a one-time payment to the impoverished country with low tax revenue.

 

The government of Guinea-Bissau will prioritize using the loan to pay salaries, provide electricity, and repay debts.

 

Finally, Fischer stated that the IMFwill return to Guinea-Bissau in March or April 2015 to discuss a three-year funding program.

 

WorldWay Editor

Investment involves risks, the above information is for reference only

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