Guinea: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guinea

2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Guinea

Volume/Issue: Volume 2021 Issue 146

Publication date: November 2021

ISBN: 9781616352981

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Topics covered in this book

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Exports and Imports , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , authorities' intention , accommodative fiscal policy , Guinean authorities , near-term priority , value chain , money market rate , Mining sector , COVID-19 , Debt sustainability analysis , Global , Africa , West Africa

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Summary

While the non-mining sector was severely impacted by the COVID-19 crisis, overall growth in Guinea remains strong, reaching 7 percent in 2020, driven by booming mining production. Inflation exceeded 12 percent as a result of COVID-related supply disruptions and the ongoing monetary and fiscal response. The already weak social indicators have deteriorated further.