The resident representative of the International Monetary Fund in Guinea-Bissau, Oscar Melhado, expects the board of the fund to approve in December the latest IMF assessment of the Guinea-Bissau economy, Lusa reports.

The Portuguese news agency quotes Mr Melhado as telling Guinea-Bissau President José Mário Vaz in a meeting: “This is the first time that Guinea-Bissau has had a programme compliance, and the fourth evaluation is very likely to be approved by the IMF board of directors on December 2.”

The IMF thinks Guinea-Bissau has made progress toward reforming the structure of its economy, but has called for greater economic diversity, because the country is too dependent on exports of cashew nuts, Lusa says.