Welcome to Africanews

Please select your experience

Watch Live

Business Africa

business-africa

Guinea-Bissau: Economic recovery plan

Guinea-Bissau: Economic recovery plan

Business Africa

Guinea Bissau is revising its economic recovery plan for 2019. The country is heavily indebted and majorly relies on the cashew nut sector

It ranks among the most indebted and poorest countries in the world, 178th out of 188 countries according to the 2016 Human Development Index.

However, Guinea Bissau aims to recover from the economic situation in which it has been entangled for several years.

The country, which has suffered from the decline in cashew nut production, one of its main crops, is relying on the support of the International Monetary Fund to reduce its budget deficit to below 3% of GDP.