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Guinea Bissau - Emergency Fiscal Reforms Support Programme - Project Completion Report (PCR)
The political and military conflict (1998-1999) created profound macroeconomic imbalances and a considerable social impact:the growth rate deteriorated, resulting in a significant decline of per capita GDP (US$ 212.53 in 1997,compared with US$ 150 for the first decade of 2000). This turned Guinea-Bissau into a post-conflict fragile State. Despite the unstable political situation and unfavourable economic environment (escalation of imports prices, collapse of world cashew nut prices, decline in ODA, etc.), the Government pursued its stringent fiscal policy under the Public Finance Strengthening Programme supported by an IMF Facility in 2008-2009. Faced with this situation, the Emergency Fiscal Reform Support Programme (PUARB) was formulated as part of a rapid response by the international community to sustain the budgetary reform process.