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The Gambia
			: Economic Adjustment in a Small Open Economy

The Gambia : Economic Adjustment in a Small Open Economy »

Series: Occasional Papers

Author(s): Eric Verreydt , Michael Hadjimichael , and Thomas Rumbaugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1992

DOI: http://dx.doi.org/10.5089/9781557752307.084

ISBN: 9781557752307

Keywords: foreign exchange, exchange rate, expenditure, banking, banking system

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...

I Introduction

I Introduction »

Source: The Gambia : Economic Adjustment in a Small Open Economy

Series: Occasional Papers

Author(s): Eric Verreydt , Michael Hadjimichael , and Thomas Rumbaugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1992

ISBN: 9781557752307

Keywords: foreign exchange, exchange rate, expenditure, banking, banking system

The Gambia is a very small country located on the west coast of Africa, surrounded on three sides by Senegal, extending inland at widths varying from 24 to 48 kilometers along the banks of the River Gambia,...

II Overview of Recent Economic Performance

II Overview of Recent Economic Performance »

Source: The Gambia : Economic Adjustment in a Small Open Economy

Series: Occasional Papers

Author(s): Eric Verreydt , Michael Hadjimichael , and Thomas Rumbaugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1992

ISBN: 9781557752307

Keywords: foreign exchange, exchange rate, expenditure, banking, banking system

The economic strategy since 1985/86 has been aimed primarily at substantially reducing the involvement of the public sector in the economy, encouraging the development of the private sector, lowering domesti...

III Growth, Saving, and Investment

III Growth, Saving, and Investment »

Source: The Gambia : Economic Adjustment in a Small Open Economy

Series: Occasional Papers

Author(s): Eric Verreydt , Michael Hadjimichael , and Thomas Rumbaugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1992

ISBN: 9781557752307

Keywords: foreign exchange, exchange rate, expenditure, banking, banking system

The growth potential of the Gambian economy has improved markedly since 1985/86 with the removal of distortions in the structure of relative prices, the strengthening in economic incentives, including the in...

IV External Adjustment

IV External Adjustment »

Source: The Gambia : Economic Adjustment in a Small Open Economy

Series: Occasional Papers

Author(s): Eric Verreydt , Michael Hadjimichael , and Thomas Rumbaugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1992

ISBN: 9781557752307

Keywords: foreign exchange, exchange rate, expenditure, banking, banking system

An integral element of the Government’s economic strategy has been the establishment of a market-determined exchange rate and the liberalization of the exchange and trade system. Both aspects were viewed as...

IX Concluding Remarks

IX Concluding Remarks »

Source: The Gambia : Economic Adjustment in a Small Open Economy

Series: Occasional Papers

Author(s): Eric Verreydt , Michael Hadjimichael , and Thomas Rumbaugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1992

ISBN: 9781557752307

Keywords: foreign exchange, exchange rate, expenditure, banking, banking system

The Gambia has made considerable progress since the mid-1980s in laying the foundation for a sustainable expansion of output through the successful implementation of a wide range of financial and structural...

Back Matter

Back Matter »

Source: The Gambia : Economic Adjustment in a Small Open Economy

Series: Occasional Papers

Author(s): Eric Verreydt , Michael Hadjimichael , and Thomas Rumbaugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1992

ISBN: 9781557752307

Keywords: foreign exchange, exchange rate, expenditure, banking, banking system

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...

Front Matter

Front Matter »

Source: The Gambia : Economic Adjustment in a Small Open Economy

Series: Occasional Papers

Author(s): Eric Verreydt , Michael Hadjimichael , and Thomas Rumbaugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1992

ISBN: 9781557752307

Keywords: foreign exchange, exchange rate, expenditure, banking, banking system

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...

V Fiscal Adjustment

V Fiscal Adjustment »

Source: The Gambia : Economic Adjustment in a Small Open Economy

Series: Occasional Papers

Author(s): Eric Verreydt , Michael Hadjimichael , and Thomas Rumbaugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1992

ISBN: 9781557752307

Keywords: foreign exchange, exchange rate, expenditure, banking, banking system

In the decade to 1985/86, following the launching of The Gambia’s first five-year development plan in 1975, public sector involvement in the economy increased substantially through the creation of public ent...

VI Monetary Policy and Financial Sector Reform

VI Monetary Policy and Financial Sector Reform »

Source: The Gambia : Economic Adjustment in a Small Open Economy

Series: Occasional Papers

Author(s): Eric Verreydt , Michael Hadjimichael , and Thomas Rumbaugh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 September 1992

ISBN: 9781557752307

Keywords: foreign exchange, exchange rate, expenditure, banking, banking system

Monetary policy since the inception of The Gambia’s Economic Recovery Program has been directed at (1) reducing inflation, which had accelerated sharply in 1984/85 and 1985/86; (2) replenishing the country’s...