See also:
» 26.01.2010 - UN anti-crime agency help set up police academy in Guinea-Bissau
» 15.07.2009 - World Bank increases support to Guinea Bissau
» 21.08.2008 - Bissau cholera out of control
» 01.08.2008 - Bissau drug probe invites more troubles
» 26.06.2008 - Bissau asked to sustain drug combat
» 22.02.2008 - UN supports Bissau recovery
» 31.01.2008 - Bissau gets post-conflict grant
» 24.01.2008 - Bissau enjoys debt relief

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Economy - Development

Shacky economic recovery for Guinea-Bissau

afrol News, 24 June - Guinea-Bissau’s economic and financial situation still faces hardships despite signs of improvement, calling for greater international support to help the West African country to emerge from its predicament and fight drug trafficking and organized crime, United Nations report says.

Latest report by UN peace-building Support Office in Guinea-Bissau (UNOGBIS) warns that substantial international community support would be necessary if the country is to advance, given ongoing budget deficits and lack of investment in public services and infrastructure.

The report further said rising fuel and basic food stuff means the country’s overall fiscal situation is fragile, noting that government has introduced tax exemptions on imports of fuel and rice, a staple food item for many people, to mitigate the problems.

UN chief, Mr Ban Ki-moon praised reports of improved prospects for economic recovery and determination of Government of Guinea-Bissau to take strong measures aimed at improving fiscal discipline and economic stability in the country.

Sending a message advice to Guinea Bissau authorities, Mr. Ban urged Government to take advantage of international mechanisms to fight drug trafficking and organized crime, saying international community should also show much greater support in the field.

He however said the government’s inability to pay salary arrears for public servants in the past few months could worsen existing political tensions.

On Guinea-Bissau grumbling democracy, the report said adequate funding has also not yet been secured for legislative elections scheduled for November, with more than $5 million in extra money needed, according to the report.

Since it attained independence from Portugal in 1974, Guinea-Bissau has been going through leadership and economic crisis. But the country's major problem has been linked to lack of adequate human resources among its ruling class.

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