Guinea to give government employees 50 percent pay rise

CONAKRY Sat Dec 15, 2012 5:31am IST

CONAKRY (Reuters) - The government of Guinea reached an agreement with trade unions on Friday to grant state employees a 50 percent salary increase, ending a four-month stand-off, according to the text of the deal read on state television.

"The different parties agreed to an increase...of 50 percent in three phases - 10 percent from October 1, 2012, 15 percent from October 1, 2013 and 25 percent before the end of 2013," the agreement read.

After securing $2.1 billion in debt relief under the World Bank and International Monetary Fund Heavily Indebted Poor Countries initiative in September, Guinea offered state employees a 10 percent pay rise.

The unions immediately rejected the proposal and threatened to go on strike if they did not receive a 200 percent wage increase.

Though Guinea is the world's top supplier of the aluminium ore bauxite and holds rich deposits of iron ore, gold and diamonds, more than half of Guineans live on less than a dollar a day.

The highest paid state employees currently earn around $200 dollars per month.

(Reporting by Saliou Samb; Editing by Joe Bavier)

  • Most Popular
  • Most Shared

Insight

REUTERS SHOWCASE

Border Talks

Border Talks

India names Ajit Doval as special envoy for China border talks.  Full Article 

WTO Deal

WTO Deal

U.S. seeks to step up India trade talks  Full Article 

Phone Masts

Phone Masts

American Tower to buy Bharti Nigeria phone masts for $1.1 billion  Full Article 

Infrastructure Plan

Infrastructure Plan

India targets private cash to build railways to its ports.  Full Article 

Shadow Banking

Shadow Banking

Reserve Bank planning more measures for NBFCs.  Full Article 

Auto Sector

Auto Sector

Hyundai Motor, Kia Motors lift 2014 global sales target on China, emerging markets  Full Article 

Oil Prices

Oil Prices

Some fund managers see oil falling to $60 without OPEC cut.  Full Article 

Project Shelved

Project Shelved

Jindal Steel shelves $10 bln project after coal setback.  Full Article 

Market Eye

Market Eye

Sensex, Nifty rise to record after China, ECB stimulus boosts risk appetite.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage