The IMF Board approved on June 19 the disbursement of $148 million to combat the economic and social shocks of the coronavirus pandemic in Guinea.
The money is granted under the Rapid Credit Facility initiated by the Fund to help vulnerable countries address urgent balance of payment and fiscal financing needs stemming from the COVID-19 pandemic. It will be used to finance health spending, protect the most vulnerable, and provide support for the private sector.
“Guinea has been severely affected by the COVID-19 pandemic. Worsening global conditions and a rapidly spreading local outbreak have further weakened the short-term outlook. The pandemic and mitigation measures have given rise to an urgent balance of payments and fiscal financing needs. The disbursement under the Rapid Credit Facility will provide timely support to address these needs and should help catalyze donors’ financial assistance,” said Mitsuhiro Furusawa, IMF Acting Chair and Deputy Managing Director.
The latest official data reports 4,960 positive covid-19 cases in Guinea with 27 deaths and 3,580 recoveries.
Moutiou Adjibi Nourou
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
• Mozambican government and Huawei considering the construction of a local mobile phone factory catered to rural needs • Special features for rural...
• Djibouti adopts new digital code to accelerate digital transformation, with focus on data protection, cybersecurity, and e-commerce. • The move aligns...
• Record drought tests Zambia's dependence on hydropower, impacting its vital mining industry • Adoption of dedicated solar projects, such as the recent...
• The African Development Bank (AfDB) has approved €25.5 million in funding to boost Mauritanian SMEs and stimulate inclusive growth.• Mauritania’s...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...
Lake Natron, located in northern Tanzania near the Kenyan border, is one of the most extraordinary and extreme lakes in Africa. Fed primarily by the Ewaso...