Guinea’s transitional government has announced that future financial assistance from the International Monetary Fund (IMF) will depend on significant improvements in tax debt recovery. The country’s Minister of Economy stated that any new IMF support would be conditional on better tax collection, as an IMF mission currently in Guinea assesses the feasibility of a financing program. Key discussions with Prime Minister Amadou Oury Bah have focused on setting a reference price for bauxite, a crucial resource for Guinea’s economy, and establishing a structured plan for recovering unpaid taxes—both of which must be implemented before financial aid is approved. The government aims to submit a formal financing request to the IMF by May 1, 2025, though the exact amount remains undetermined.
Despite its vast natural resources, Guinea continues to face economic difficulties, with international financial institutions urging improvements in public financial management.
The country has been under military rule since a 2021 coup, with authorities failing to fulfill their pledge to restore civilian governance by the end of 2024. IMF mission chief Pilar Garcia Martinez expressed the institution’s willingness to support Guinea’s reform efforts but did not disclose specific terms or timelines for potential funding. The government now faces mounting pressure to enhance tax collection efficiency and fiscal governance to secure IMF backing and drive economic stability.
