Author: Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Escaping the Low-growth Trap
Author: Guinea-Bissau Country Economic Memorandum
Author: Guinea-Bissau Country Economic Memorandum
Author: WeltbankPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
After decades of turmoil and instability, a period of calm and progress evolved in Guinea-Bissau in 2009. A military coup in April 2012 interrupted it. A fresh start is needed to alter the dynamics that kept Guinea-Bissau poor. In 2013, Gross National Income per capita was US$590. Average economic growth barely kept pace with population growth. In 2010, poverty at the national poverty line of US$2 a day was 70 percent; extreme poverty at US$1 a day was 33 percent. These numbers have increased from their 2002 levels and they are estimated to have increased further since 2010. It is time to make a fresh start and turn the page on anemic growth and poverty. Guinea-Bissau s elections of May and June 2014 are described by many observers as the freest and fairest in the country s history. Voter registration and turnout were at record-levels. The conditions for progress and stability are favorable. Guinea-Bissau is a rural economy, almost entirely dependent on a single cash crop: cashew. It is the main source of income for most of the country s poor. Cashew nuts are Guinea-Bissau s main export, accounting for 85 to 90 percent of the country s total exports. The balance of payments is dominated by cashew, on the export side, and food and fuel, among imports. The economy is open, with exports and imports by land and sea amounting to more than 70 percent of GDP. Shocks to cashew, rice and oil prices have a considerable effect on the current account balance. Official Development Assistance (ODA) makes a critical contribution to supporting the state budget. In 2011, Guinea-Bissau ranked 20th among the world s most aid dependent countries. Recently, policy mistakes aggravated an already dire situation. However, the 2014 cashew campaign was been better than the 2013 campaign, and the prospects for a pick-up in growth have improved.
Revolutionary People's Republic of Guinea
Author: World BankRepublic of Guinea , Country Economic Memorandum
Author: Guinea- Bissau
Author: International Monetary Fund. African Dept.Publisher: International Monetary Fund
ISBN: 1484333195
Category : Business & Economics
Languages : en
Pages : 57
Book Description
This paper explains the cashew economy and the unfolding of the 2017 campaign. At least half of all households are thought to be engaged in production, commercialization, or exportation of cashew nuts. The activity has at least four macroeconomic impacts: one, it injects liquidity to producers; two, owing to producers’ high propensity to consume, it impacts the price level; third, it is the main provider of foreign exchange via exports; and fourth, it is an important source of fiscal revenues. Despite streamlining of marketing arrangements over the years, cashew production is still subject to significant government intervention. Vested interests have traditionally permeated public policies, with nontransparent issuance of licenses and permits used in some instances to block competition. Cashew production started to expand during the 1980s and yearly output has over the years increased to currently about 200,000 tons. Native of north Brazil, cashew trees were introduced by the Portuguese during the colonial period but output remained negligible through to the country’s independence in 1973.
Conflict, Livelihoods, and Poverty in Guinea-Bissau
Author: Boubacar-Sid BarryPublisher: World Bank Publications
ISBN: 0821370227
Category : Political Science
Languages : en
Pages : 106
Book Description
Conflict, Livelihoods, and Poverty in Guinea-Bissau is part of the World Bank Working Paper series. These papers are published to communicate the results of the Bank's ongoing research and to stimulate public discussion. Conflict and political instability have weakened Guinea-Bissau's productive infrastructure considerably during the past three decades. This situation contributes to an increase in the degree of vulnerability of the population, especially in rural areas where most economic activities continue to take place. As growth has been weak, poverty levels remain high. This book provides a collection of papers on conflict, livelihoods, and poverty in Guinea-Bissau based on both the nationally representative 2002 household survey and a small scale survey with both quantitative and qualitative components implemented in 2004. The chapters deal with growth and poverty, institutions and social networks, the determinants of poverty, the means of livelihoods of the population, and finally cashew production and taxation. Book jacket.
Guinea-Bissau
Author: International MonetaryPublisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 135
Book Description
After years of political turmoil and delayed reforms, the authorities started implementing in 2021 an ambitious fiscal consolidation and reform program to ensure debt sustainability, create fiscal space to address developmental needs and strengthen state capacity. A Rapid Credit Facility (RCF) disbursement of SDR 14.2 million (50 percent of quota) was approved in January 2021 to provide urgent financing to support critical spending in health. A 9-month Staff-Monitored Program (SMP) with three quarterly reviews was approved in July 2021 to support the government’s reform program aimed at stabilizing the economy, strengthening governance, and building track record of policy implementation to underpin the authorities’ request for an Extended Credit Facility (ECF) arrangement. The August 2021 SDR 27.2 million allocation and the reforms underpinned by the SMP have helped address the adverse impact of the pandemic, improve government spending transparency, mitigate debt vulnerabilities.
Guinea-Bissau
Author: International Monetary FundPublisher: International Monetary Fund
ISBN: 1463927959
Category : Business & Economics
Languages : en
Pages : 13
Book Description
This paper presents the Joint Staff Advisory Note on Guinea-Bissau’s Second National Poverty Reduction Strategy Paper (PRSP II) covering 2011–15. The PRSP II, adopted by the government in July 2011, provides the framework for the implementation of a comprehensive strategy aimed at consolidating macroeconomic stabilization and strengthening recent improvements in economic governance. Its successful implementation would help the country enhance its economic growth conditions, strengthen the rule of law, and accelerate progress toward the achievement of the Millennium Development Goals.
Guinea-Bissau
Author: International Monetary Fund. African Dept.Publisher: International Monetary Fund
ISBN: 151354151X
Category : Business & Economics
Languages : en
Pages : 49
Book Description
This Selected Issues paper aims at identifying some of the main channels of transmission through which political instability feeds and foster fragility and provide an estimate of the “fragility gap” that haunts the Bissau-Guinean society. This paper argued that, until today, due to chronic political instability, Guinea-Bissau has been in a costly fragility trap. This analytical piece argues that the major factor behind Guinea-Bissau’s fragility has been the chronic political instability. It also uncovers some of the main transmission channels from political instability to fragility and provides simple estimates about the cost of instability. Estimates based on reasonable assumptions reveal that, considering only Guinea-Bissau’s post-war period, without chronic political instability real GDP per capita could have been at least two thirds higher than its 2013 level. This assessment shows the crucial importance of the security sector reform. It also shows that the current estimated cost of the security sector reform is modest in comparison, since it puts into perspective its monetary costs—which are easy to calculate and mostly frontloaded—vis-à-vis its wide and deep benefits, which are not as explicit and accrue over time.