Guinea Bissau seeks financial assistance from Ghana & other ECOWAS members as it recovers from political instability.

A financially distressed Guinea
Bissau is seeking financial assistance
from Ghana and other ECOWAS
members as it recovers from a
difficult period of political instability.
Guinean Prime Minister Domingos
Simões Pereira told the press during
a call on Vice President Kwesi Bekoe
Amissah-Arthur his country's “most
expressive” need was “financial”.
Guinea Bissau is not the only West
African country seeking financial
support because Ghana too is
currently seeking financial assistance
from the International Monetary Fund
and hopes to conclude talks and
announce a deal before the year
ends.
But for a country that struggled to
hold an inauguration ceremony for its
new government, Guinea Bissau's
financial situation is dire.
Guinea Bissau which has recently
returned to democratic rule after an
April 2012 coup intends to salvage its
economy through help from ECOWAS
under the chairmanship of President
John Mahama.
Prime Minister of Guinea Bissau
Domingos Simões Pereira made the
plea for the ECOWAS financial
assistance during on a two day
official visit to Ghana which was
hosted by vice president Kwesi Bekoe
Amissah Arthur at Akosombo.
This will be the second time Guinea
Bissau is seeking financial assistance
from ECOWAS.
In July, Heads of States within
ECOWAS agreed to create a special
Emergency Fund for Guinea Bissau to
help the new government tackle
some pressing social challenges.
The last time Prime Minister Domingo
Periera visited Ghana, it was to seek
financial support after a successful
democratic election ended with a
severely battered economy.
Civil servants had not been paid for
months and by their own accounts,
organization of a fitting inaugural
ceremony was tough.
But the country is still in the woods.
“We still have a lot of challenges to
face and we are looking forward to do
it having the support of ECOWAS. So
we are preparing a roundtable
meeting for next year in February”,
the Prime Minister said.
After witnessing the diplomatic
support mobilised by President
Mahama before, during and after the
country's elections, Prime Minister
Domingo Periera is convinced
"having the support of ECOWAS
specifically having the Ghana
support" will be crucial.