The International Monetary Fund (IMF) has made the recovery of tax debts a prerequisite for approving a new financial support programme for Guinea, the country’s economy minister, Mourana Soumah, said on Tuesday.
An IMF delegation is currently in Guinea for a week-long assessment of the junta-led nation’s financial needs and to outline future cooperation.
Guinea, a major exporter of bauxite used in aluminium production, is seeking economic support during ongoing political uncertainty.
During discussions with Prime Minister Amadou Oury Bah, the IMF team outlined key conditions for the programme’s implementation, including the establishment of a reference price for bauxite and a structured timeline for recovering outstanding tax debts.
Soumah did not specify the amount to be recovered but described the meeting as an initial step toward finalising the agreement.
“It was an orientation meeting that will allow us to conduct simple discussions to definitively finalise this programme,” he told reporters. He hinted that Guinea aims to submit its financial request to the IMF by May 1 but did not disclose the amount sought.
IMF mission head Pilar Garcia Martinez confirmed that talks had covered the use of funds available to Guinea, though she did not provide details on a specific sum or timeframe.
“The Fund is here to support their reform agenda,” she said.
Despite its vast natural resources, Guinea remains one of the world’s poorest nations, plagued by political instability since gaining independence from France in 1958. The country has been under military rule since the 2021 coup.
Under international pressure, the junta initially pledged to hold a constitutional referendum and transition to civilian rule by 2024.
However, those commitments have yet to be fulfilled, raising concerns over Guinea’s economic and political future.
