Identifier
Created
Classification
Origin
09CONAKRY109
2009-02-17 12:50:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Conakry
Cable title:  

GUINEA PAYS WORLD BANK ARREARS FOR JANUARY

Tags:  EAID PGOV ECON AORC GV 
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VZCZCXRO4204
PP RUEHMA RUEHPA
DE RUEHRY #0109 0481250
ZNR UUUUU ZZH
P 171250Z FEB 09
FM AMEMBASSY CONAKRY
TO RUEHC/SECSTATE WASHDC PRIORITY 3461
INFO RUEHZK/ECOWAS COLLECTIVE
RUEAIIA/CIA WASHDC
RHEFDIA/DIA WASHINGTON DC
RHMFISS/HQ USAFRICOM STUTTGART GE
RUCPDOC/DEPT OF COMMERCE WASHDC
RUEATRS/DEPT OF TREASURY WASHINGTON DC
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

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