02667cas a2200301 a 4500 AALejournalIMF021910 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513588056 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. African Dept. Guinea-Bissau : Request for a Nine-Month Staff Monitored Program-Press Release; and Staff Report. Washington, D.C. : International Monetary Fund, 2021. 1 online resource (76 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Guinea-Bissau is a fragile state with considerable needs to fight the COVID-19 pandemic and address developmental challenges. After an estimated 1.4 percent of GDP contraction in 2020, a modest recovery of about 3.3 percent is projected for 2021 on the back of higher cashew exports, the gradual lifting of COVID containment measures and a more stable political situation. The outlook is subject to considerable uncertainty. An RCF disbursement of SDR 14.2 million (50 percent of quota) was approved in January to provide urgent financing (35 percent of the external gap in 2021) to support critical spending in health and catalyze additional donor resources. The RCF followed two years of protracted political turmoil and delays in reforms, now undertaken by the new government. Public debt was assessed as sustainable in a forward-looking sense based on the authorities' commitment to sound policies supported by strong donor engagement and a Fund program. Debt service relief under the CCRT has provided some fiscal space and the country's participation in the DSSI should also help mobilize additional resources. After the 2021 budget approval within the statutory deadlines, significant and sustained reform efforts are required to meet the WAEMU 3 percent of GDP overall balance criteria by 2025 and bring public debt-to-GDP ratio within 70 percent by end-2026. Mode of access: Internet International Agreements imf International Organizations imf Monetary Policy imf Observance imf Guinea-Bissau imf IMF Staff Country Reports; Country Report ; No. 2021/172 Full text available on IMF http://elibrary.imf.org/view/journals/002/2021/172/002.2021.issue-172-en.xml IMF e-Library