IMF to Guinea Bissau: Quit relying on cashew nut, diversify exports

International Monetary Fund (IMF)

IMF urges Guinea Bissau to diversify output for sustainable growth. PHOTO | FILE

Guinea Bissau's economy is excessively dependent on the production and export of cashew nuts, leaving the country highly exposed to fluctuations in international prices and local weather conditions, the International Monetary Fund (IMF) has said.

As a way out, the IMF suggests that diversifying its output and exports can contribute to higher and more sustainable growth.