41-Month Credit Facility to Support Economic Reforms and Growth

The International Monetary Fund (IMF) has reached a staff-level agreement with Guinea on a 41-month Extended Credit Facility worth SDR 310.59 million, equivalent to approximately $439 million.

The proposed programme is designed to support Guinea’s economic reforms, strengthen fiscal and monetary frameworks, improve governance and transparency, and help the country mobilise revenue from its growing mining sector.

The agreement comes as Guinea enters a significant period of economic expansion, with the Simandou iron ore project moving into production and mining activity expected to increase economic growth and government revenues.

The IMF says the programme will seek to ensure that Guinea’s growing mineral wealth contributes to long-term development, including investment in infrastructure and human capital, economic diversification and sound management of public finances.

However, the agreement is not yet final. It remains subject to approval by IMF management and the IMF Executive Board, which is expected to consider the programme in September 2026.

The IMF says Guinea’s economy has remained resilient despite repeated shocks, but inflationary pressures have increased and fiscal and external buffers remain below desired levels.

If approved, the facility would provide a framework for Guinea to strengthen economic stability while attempting to turn its expanding mineral resources into broader and more sustainable development gains.