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The Gambia: Second Review Under the Extended Credit Facility Arrangement, Requests for A Waiver of Nonobservance of Performance Criterion, Modifications of Performance Criteria and Indicative Targets, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for The Gambia
Author:
International Monetary Fund. African Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2025: Issue 004
Language:
English
Publication Date:
14 Jan 2025
DOI:
https://doi.org/10.5089/9798400296949.002
ISBN:
9798400296949
ISSN:
1934-7685
Pages:
105
Keywords:
procurement authority; headline inflation; ECF arrangement; Policy discussion; introduced foreign exchange policy; Budget planning and preparation; Global; Middle East
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This paper presents Gambia’s Second Review under the Extended Credit Facility arrangement, Requests for a Waiver of Nonobservance of Performance Criterion, Modifications of Performance Criteria and Indicative Targets, and Financing Assurances Review. Economic recovery is strengthening, and inflation is gradually decreasing, although the pace remains slow. Based on the strength of the macroeconomic program, growth is projected at 5.9 percent in 2025 and around 5 percent in the medium term, though risks remain from global conflicts, commodity price shocks, and fluctuations in tourism and remittance flows. The country remains vulnerable to global shocks. Program performance has been affected by fiscal pressures and delays in reform implementation, but the authorities remain committed to overall program targets. Steadfast implementation of the policy and reform agenda will be essential to safeguard macroeconomic gains and debt sustainability.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund