Guinea is Back and Ready for Business

Guinea has become a stable and open country with the election of the President of the Republic Alpha Condé in 2010. Since then, although the political context has sometimes been marked by lack of dialogue between political actors, the tension has eased significantly. In fact, with the support of the international community, dialogue between political actors eventually progressed on June 3rd. It culminated on July 3rd with the signing of an agreement for the organization of legislative elections on September 28, 2013. In September 2012, Guinea reached the completion point under the Heavily Indebted Poor Countries Initiative (HIPC). The completion point marks the end of a process that began in 2000 when the International Monetary Fund (IMF) and the World Bank's International Development Association (IDA) agreed that Guinea was able to create the conditions and safeguards required to reach the decision point. As the 34th country to take this step, Guinea has benefited from a reduction of its external debt to the tune of $2.1 billion, a 66% reduction of its external debt over the last 40 years.