Guinea Bissau still struggling with NPLs, says latest IMF assessment
Country still reeling from failed bailout that saw two banks default
High non-performing loans (NPLs) are continuing to constrain the financial sector in Guinea Bissau, the International Monetary Fund (IMF) says.
In its latest Article IV consultation, the fund says NPLs remain too high, at around 20% of total loans, despite action being taken to ensure banks comply with prudential regulation.
“A clean-up of balance sheets and substantial recapitalisation are necessary for banks to resume lending to the private sector,” the fund stresses.
The authorities are in
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