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IMF Staff Completes Staff Visit to Guinea

IMF Staff Completes Staff Visit to Guinea
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Guinea enjoys 7% economic growth in 2020 despite health crisis (IMF)


Guinea enjoys 7% economic growth in 2020 despite health crisis (IMF)
Tuesday, 04 May 2021 16:06
(Ecofin Agency) - Last year, Guinea’s economy grew by 7% despite the double health crisis of Covid-19 and Ebola. The good news was reported last April 30 by the International Monetary Fund (IMF) following a virtual mission to the country.
The figure is even well above the 5.2% previously forecasted by the Fund. Clara Mira who led the IMF virtual mission said the good performance was mainly driven by the mining sector.
Data provided by the African Development Bank (AfDB) show that Guinea’s mining sector posted an increase by 18.4% in activity in 2020, against only 8% in 2019, thanks to higher demand for raw materials such as bauxite, of which the country has become the main supplier since 2017. ....

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