Scrutinized by the International Monetary Fund (IMF), the Guinean government is strengthening its fight against money laundering. A few weeks ago, Alpha Condé concretized one of the demands of the Washington-based institution, which is also one of its major creditors.

Criterion for obtaining new aid: comply with the conditions of the IMF, of which the fight against money laundering is part. Guinea's economy is vulnerable to the risks of money laundering and corruption due, among other things, to the large amounts of capital drained by the mining sector or its position as a hub for drug trafficking.

Prime Minister Ibrahima Kassory Fofana had to prove to the International Monetary Fund his progress in its fight against financial crime. At the beginning of April, the National Assembly unanimously adopted the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) law.

The draft law was drafted with the IMF, which had also trained Guinean officials to combat these illegal activities, in 2018 and 2019. Prime Minister Ibrahima Kassory Fofana, Economy Minister Mamadi Camara and Governor of the Central Bank of the Republic of Guinea (BCRG) Louncény Nabé are also preparing for the next evaluation of the Financial Action Task Force (FATF), planned for 2022.