Guinea allowed $650 mln in non-concessional loans under IMF programme
Published on: Monday 11 December 2017
Guinea will be allowed $650 million in non-concessional borrowing under a new three-year International Monetary Fund (IMF) programme, allowing it to boost spending on infrastructure projects, the finance minister said on Tuesday. The IMF is itself lending Guinea - Africa's top producer of the aluminium ore bauxite - around $170 million at zero percent interest under its Extended Credit Facility. The IMF said in October the package, agreed by the lenders board on Monday, would support Guinea's National Social and Economic Development Plan.
