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Elizabeth Gavin
This note outlines the interest of Revenue Administrations (RAs) and National Statistical Offices (NSOs) in the quality of data at their disposal, and how collaboration between these organizations can contribute to improving data quality. The similarities between the data collection and processing steps in revenue administration and in the production of economic statistics underlie meaningful information and data sharing. Mutually beneficial collaboration between RAs and NSOs can be achieved, particularly in efforts to improve the coverage of registers and to update register information; classify economic activity; and analyze joint data to address data shortcomings. Since there are differences in concepts and definitions used in revenue administration and official statistics, dialogue is necessary to ensure the effective use of data from the partner organization. Collaboration can improve the quality of data available to both institutions: for RAs, this can assist in realizing improved taxpayer compliance and revenue mobilization, and for NSOs, tax-administrative data sources may enable expanded coverage of the economy in official statistics and reduce timeframes required for publishing economic time series and national accounts. Together, these outcomes can enhance the policy formulation, planning, and service delivery capability of governments. To that end, this note delineates concrete steps to engender sustainable and meaningful interchange of information and data between the RA and NSO.
International Monetary Fund. Fiscal Affairs Dept.
This Technical Assistance Report on The Gambia highlights that the government has highlighted infrastructure development as a key element of National Development Plan, 2018–21. The report discusses that the need for increased public investment in the Gambia should be balanced against potential fiscal risks related to future Public–Private Partnerships and State-Owned Enterprise investments. Analysis of public investment patterns shows a fragmented picture, in which external financing dominates. Measures of the efficiency of infrastructure investments show mixed results and considerable room for improvement. The analysis explains that the Gambia’s performance across different Public Investment Management Assessment (PIMA) indicators is mixed and does not compare favorably with regional counterparts. Nevertheless, there are many indicators where the PIMA rating is poor. Prevailing weaknesses include the presence of many information gaps and non-transparent disclosure policies. The mission’s main recommendations focus on five priority areas and are designed to complement reforms that are already being undertaken.
International Monetary Fund. African Dept.

This 2015 Article IV Consultation highlights that The Gambia has experienced large balance of payments and fiscal imbalances, caused by persistent policy slippages in recent years and financial difficulties in public enterprises. The IMF supported the authorities' efforts through a Rapid Credit Facility (RCF) disbursement in early April 2015 and a Staff-Monitored Program (SMP). However, major policy slippages have occurred since the RCF disbursement, pushing the SMP off track and worsening the outlook considerably. In light of the elevated level of public debt, the government should prioritize infrastructure investments that help address poverty and improve the business environment. The authorities are encouraged to continue their efforts to improve supervision capacity to enhance financial stability.

International Monetary Fund. African Dept.
This 2015 Article IV Consultation highlights that The Gambia has experienced large balance of payments and fiscal imbalances, caused by persistent policy slippages in recent years and financial difficulties in public enterprises. The IMF supported the authorities’ efforts through a Rapid Credit Facility (RCF) disbursement in early April 2015 and a Staff-Monitored Program (SMP). However, major policy slippages have occurred since the RCF disbursement, pushing the SMP off track and worsening the outlook considerably. In light of the elevated level of public debt, the government should prioritize infrastructure investments that help address poverty and improve the business environment. The authorities are encouraged to continue their efforts to improve supervision capacity to enhance financial stability.
International Monetary Fund. African Dept.

KEY ISSUES Background. The Gambian economy is facing urgent balance of payments needs triggered mostly by the impact of the regional Ebola outbreak on tourism. Although the country remains Ebola free, the regional outbreak is expected to cut by more than half tourism receipts for the 2014/15 season. During 2014?15, the impact of the shocks on the balance of payments, offset in part by lower global fuel prices, is estimated to be $40 million (over 5 percent of 2015 GDP). Policy slippages and persistent financial difficulties in public enterprises have exacerbated the problems and pushed The Gambia’s ECF arrangement off track. In their Letter of Intent the authorities have notified the Fund of their decision to cancel the arrangement. Request. The authorities are requesting support under the RCF—in an amount of SDR 7.775 million or equivalent to 25 percent of quota—to cope with the urgent balance of payments needs and a one-year staff-monitored program (SMP) to guide policy implementation before returning to a successor ECF arrangement, provided policies remain on track. Main policy commitments. The authorities have taken a number of upfront policy actions. The approved 2015 budget envisages lowering net domestic borrowing (NDB) to 1 percent of GDP in 2015 from 12¼ percent in 2014, anchored by a set of revenue and expenditure measures, and complemented by some $22 million in external budget support. The authorities have taken steps to resolve the financial problems of key public enterprises and intend to take measures to secure their medium-term fiscal consolidation and poverty reduction objectives. Staff’s view. Staff supports the authorities’ request. Staff views the package of measures articulated in the attached letter of intent as representing a considerable effort. The RCF disbursement would augment the authorities’ own strong adjustment efforts, help catalyze additional donor financing, and give the authorities the time needed to develop their medium-term adjustment plans. The SMP will provide the Gambian authorities an opportunity to establish a track record before moving to a successor ECF to which they aspire. A period of monitoring will also allow the time needed to assess the impact of the shocks fully and hence better tailor the objectives of a successor ECF arrangement.

International Monetary Fund. African Dept.

This IMF Staff Report for the 2013 Article IV Consultation presents economic development and policies of Tthe Gambia. The IMF report shows that Tthe Gambia’s economy is picking up slowly from the past drought conditions. The Gambian Programme for Accelerated Growth and Employment (PAGE) emphasizes fiscal adjustment, together with infrastructure investment and structural reforms to support inclusive growth. Fiscal adjustment is needed to ease the heavy debt burden, arising mainly from domestic debt. Execution of the PAGE, supported by commitments from development partners, would help reduce poverty, especially in rural areas, given a strong focus on agriculture.

International Monetary Fund. African Dept.
This IMF Staff Report for the 2013 Article IV Consultation presents economic development and policies of Tthe Gambia. The IMF report shows that Tthe Gambia’s economy is picking up slowly from the past drought conditions. The Gambian Programme for Accelerated Growth and Employment (PAGE) emphasizes fiscal adjustment, together with infrastructure investment and structural reforms to support inclusive growth. Fiscal adjustment is needed to ease the heavy debt burden, arising mainly from domestic debt. Execution of the PAGE, supported by commitments from development partners, would help reduce poverty, especially in rural areas, given a strong focus on agriculture.
International Monetary Fund. African Dept.

The Gambian economy is still recovering from the severe drought and crop failure. Depreciation pressure on the Dalasi has largely been driven by weaknesses in the balance of payments and uncertainty about exchange rate policy. Executive Directors have urged the government to curb domestic borrowing and to sustain the fiscal adjustment needed to reduce the high cost and risks of domestic debt. They have also commended the progress achieved toward eliminating fiscal dominance and encourage implementing a restrained monetary policy.

International Monetary Fund. African Dept.

The Gambian economy is still recovering from the severe drought and crop failure. Depreciation pressure on the Dalasi has largely been driven by weaknesses in the balance of payments and uncertainty about exchange rate policy. Executive Directors have urged the government to curb domestic borrowing and to sustain the fiscal adjustment needed to reduce the high cost and risks of domestic debt. They have also commended the progress achieved toward eliminating fiscal dominance and encourage implementing a restrained monetary policy.

International Monetary Fund

This paper discusses the request from Gambian authorities for a three-year arrangement under the extended credit facility (ECF). The Gambian economy performed well during the previous IMF arrangement, which expired at the end of March 2011; however, there were slippages under the program. The authorities requested a new three-year ECF arrangement, with a large initial disbursement, but relatively low access overall. The initial disbursement would support stability during the current drought crisis, while remaining disbursements would encourage fiscal adjustment and catalyze donor support for the poverty reduction strategy.