IMF-World Bank team to assess impact of development projects on Guineans

A joint International Monetary Fund (IMF) and World Bank mission has been in Guinea for the last one week to assess the positive impact of development projects on the lives of Guinean population, a source close to Guinea's economy ministry said Wednesday.

The mission has already held talks with several stakeholders in the country's economy, among them government officials, economic operators as well as members of parliament.

While meeting parliamentarians, the IMF and World Bank experts reviewed national economic indicators as well as the difficulties that have faced the country in the past years, especially during the period of Ebola outbreak.

Parliament's Economic and Financial Commission notified the mission of the socioeconomic challenges facing Guineans.

Head of the mission Abdoul Aziz Wann said the meeting enabled the experts to know progress achieved since 2012 in the development and improvement of people's wellbeing.

"We discussed the impact of development on the people's living conditions, Guinea's growth prospects and reduction of inflation," Wann said.

He said it was important for Guinea to reduce inflation from 22 percent to 7 percent in order to ease suffering at the households level.

Guinea's economy has suffered greatly in the last five years due to a drastic drop in the global prices of minerals such as bauxite, iron ore and gold.

The IMF and World Bank team will end its mission on May 3 after discussing with several stakeholders in Guinea. Endit