Abstract

The Gambia, one of the least developed countries in Africa, has been pursuing corrective economic policies since 1985, aimed at restroing financial stability and laying the basis for strong and sustainable economic growth. Supported by IMF policy advice and financing. The Gambia's economic performance has improved considerably since 1985. This study discusses Gambian adjustment policies and their benefits.

References

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Economic Adjustment in a Small Open Economy
  • Aghevli, Bijan B., and others, The Role of National Saving in the World Economy: Recent Trends and Prospects, IMF Occasional Paper, No. 67 (Washington: International Monetary Fund, March 1990).

    • Search Google Scholar
    • Export Citation
  • Aghevli, Bijan B. Khan, Mohsin S. Montiel, Peter J. Exchange Rate Policy in Developing Countries: Some Analytical Issues, IMF Occasional Paper, No. 78 (Washington: International Monetary Fund, March 1991).

    • Search Google Scholar
    • Export Citation
  • Boughton, James M.,The CFA Franc Zone: Currency Union and Monetary Standard,IMF Working Paper, No. WP91/133 (Washington: International Monetary Fund, December 1991).

    • Search Google Scholar
    • Export Citation
  • de Merode, Louis,Civil Service Pay and Employment Reform in Africa: Selected Implementation Experiences,Division Study Paper, No. 2, Institutional Development and Management Division, Africa Technical Department (Washington: World Bank, June 1991).

    • Search Google Scholar
    • Export Citation
  • International Monetary Fund, Interest Rate Policies in Developing Countries, IMF Occasional Paper, No. 22 (Washington: International Monetary Fund, October 1983).

    • Search Google Scholar
    • Export Citation
  • International Monetary Fund, Fund-Supported Programs, Fiscal Policy, and Income Distribution, IMF Occasional Paper, No. 46 (Washington: International Monetary Fund September 1986).

    • Search Google Scholar
    • Export Citation
  • International Monetary Fund, World Economic Outlook, May, 1992, World Economic and Financial Surveys (Washington: International Monetary Fund, 1992).

    • Search Google Scholar
    • Export Citation
  • Kapur, Ishan, and others, Ghana: Adjustment and Growth, 1983–91, IMF Occasional Paper, No. 86 (Washington: International Monetary Fund, September 1991).

    • Search Google Scholar
    • Export Citation
  • Leite, Sergio Pereira, Sundararajan, V.Issues in Interest Rate Management and Liberalization,Staff Papers, International Monetary Fund (Washington), Vol. 37 (December 1990) pp. 73552.

    • Search Google Scholar
    • Export Citation
  • Quirk, Peter J., and others, Floating Exchange Rates in Developing Countries: Experience with Auction and Interbank Markets, IMF Occasional Paper, No. 53 (Washington: International Monetary Fund, May 1987).

    • Search Google Scholar
    • Export Citation
  • Sallah, Tijan M.,Economics and Politics in The Gambia,The Journal of Modern African Studies, Vol. 28(4) (1990), pp. 62148.

  • Stiglitz, Joseph, and Weiss, AndrewCredit Rationing in Markets with Imperfect Information,American Economic Review, Vol. 71, No. 3 (June 1981), pp. 393410.

    • Search Google Scholar
    • Export Citation
  • Turtelboom, BartInterest Rate Liberalization: Some Lessons from Africa,IMF Working Paper, No. WP91/121 (Washington: International Monetary Fund, December 1991).

    • Search Google Scholar
    • Export Citation
  • Villanueva, Delano, and Mirakhor, AbbasStrategies for Financial Reforms,Staff Papers, International Monetary Fund (Washington), Vol. 37 (September 1990), pp. 50936.

    • Search Google Scholar
    • Export Citation
  • von Braun, JoachimSocial Policy in Sub-Saharan Africa: Reflections on Policy Challenges,in Social Security in Developing Countries, ed. by Ehtisham Ahmad and others(Oxford: Clarendon Press, 1991), pp. 395413.

    • Search Google Scholar
    • Export Citation
  • Walsh, BrendanInterest Rates, Financial Markets, and Economic Development in The Gambia” (unpublished; Ministry of Finance and Economic Affairs, The Gambia, January 1991).

    • Search Google Scholar
    • Export Citation
  • Wong, Chorng-Huey,Market-Based Systems of Monetary Control in Developing Countries: Operating Procedures and Related Issues,IMF Working Paper, No. WP91/40 (Washington: International Monetary Fund, 1991).

    • Search Google Scholar
    • Export Citation