Guinea: Recent Economic Developments

International Monetary Fund

No 1999/113, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in Guinea during 1990–98. Economic developments were dominated by the coming on stream of important oil fields in 1992 and 1996, and the subsequent breakdown in fiscal discipline and transparency. In response to the January 1994 devaluation of the CFA franc, there was also an upturn in the non-oil sector, led by intensification in logging activity that resulted in an unsustainable level of timber output in 1997. Real GDP growth averaged 8.5 percent a year in 1992–95, and rose to 29 percent in 1996.

Keywords: ISCR; CR; GDP; government; price; export; deficit; fiscal policy; oil revenue; export crop subsector; monetary policy; debt service; private sector; broad money; Oil; Agroindustries; gas and mining taxes; Exports; Oil production; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 84
Date: 1999-10-20
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