EARLY SIGNS OF STABILITY IN GUINEA-BISSAU GIVES HOPE FOR DEVELOPMENT

EARLY SIGNS OF STABILITY IN GUINEA-BISSAU GIVES HOPE FOR DEVELOPMENT

President-elect Umaro Sissoco Embaló gains parliamentary majority, which further strengthens his presidency. Parliamentarians gathered at “Palácio Colinas de Boé” which houses the National People’s Assembly to debate which political alliances have the right to govern the country. The debates lasted a little over six hours, thereafter, parliamentarians of Guinea-Bissau offered an almost final victory to the camp of the new president Umaro Sissoco Embaló.  Preceeding this meeting, the president sacked 5 ministers including the minister…

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Guinea Bissau reduces debt by 90%

Guinea Bissau reduces debt by 90%

Support from ASLF helps Guinea Bissau reduce debt to Export-Import Bank of China (Exim Bank) by 90%. The African Legal Support Facility (ALSF) assisted the Guinea Bissau Government during an outstanding debt negotiation with China’s Export-Import Bank (Exim Bank) in Singapore. This assistance resulted to a series of  settlement and debt-restructuring that saw both parties (i.e Guinea Bissau and Exim Bank) agreeing to a 90% reduction in the outstanding debt obligation. This reduction which have saved…

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