Guinea-Bissau: Sixth Review Under the Extended Credit Facility, Request for a Waiver of Nonobservance of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Guinea-Bissau

Guinea-Bissau continues to face very challenging domestic and international environments. The terms of trade shocks continue, while tightening of regional financial conditions have been shooting up borrowing costs. Since the political crisis in December 2023, underlying social tension has been high. The next legislative election will be held on November 24, 2024. Despite these challenges, the authorities have maintained the political and economic stability. The cashew export campaign has been progressing smoothly. Growth is on course to recover, but risks to the outlook remain tilted to the downside.