Washington, United States: The International Monetary Fund has reached a staff-level agreement on a new $439 million loan for Guinea, with a more than three-year program aimed at helping the West African nation transform resource wealth into broader economic growth.
The agreement came after an IMF delegation visited Conakry and held talks with the country's prime minister, finance minister and other top officials in June, according to a statement released on Tuesday.
The agreement is subject to approval by the IMF's executive board in September.
Located on the coast of West Africa, most of Guinea's population works in the agricultural sector, but mining is a key source of income and revenue, with bauxite one of its main exports.
