GUINEA PAYS WORLD BANK ARREARS FOR JANUARY

UNCLAS CONAKRY 000109 SIPDIS SENSITIVE E.O. 12958: N/A TAGS: EAID PGOV ECON AORC GV SUBJECT: GUINEA PAYS WORLD BANK ARREARS FOR JANUARY REF: CONAKRY 106 ¶1. (U) On 16 February, World Bank ResRep Siaka Bakayoko informed Embassy that the Bank had received approximately $2.42 million toward the payment of Guinea's outstanding arrears. However, he noted this payment covered only payments originally due in January, and said that Guinea still owes the Bank roughly $1.07 million for loan repayments due in February. ¶2. (SBU) A contact told USAID Director that while waiting to see CNDD-President Moussa Dadis Camara on 12 February, an official from the Ministry of Finance brought the payment authorization to the head of state for his approval. According to the contact, Dadis Camara is attempting to make most governmental decisions personally, but that "he just doesn't have time in the day to meet with everyone." ¶3. (SBU) COMMENT. Bakayoko noted that this latest payment lifts the threat of immediate suspension of World Bank disbursements. However, given the GoG's shortage of hard currency, it remains unclear how the military junta financed the repayment (reftel). Additionally, Dadis' nearly unmanageable presidential schedule, along with his continued insistence that he personally review almost every governmental decision, might also partially account for the delay in making the January and February payments. RASPOLIC