Guinea - Economic and Financial Reform Support Program - PAREF

This intervention concerns the Economic and Financial Reform Support Programme (PAREF). It seeks to support the government budget to enable it to implement the PRSP as well as the emergency investment plan for providing social services and basic infrastructure to the population. PAREF is necessary to enable the Government to restore macroeconomic stability and have the fiscal space to put in place its poverty reduction strategy. To this end, structuring reforms on enhanced budget management and improved contribution by the extractive sector to development are immediate priorities for the new Government. The programme consists of two main components: (i) strengthening public finance management; and (ii) improving governance in the extractive sector. The objectives of the two components are complementary. The former seeks to improve the management of public resources while the latter aims to sustain these resources through better contribution by the extractive sector to the economy.