The Gambia: 2010 Article IV Consultation: Staff Report, Statement by the IMF Staff Representative, Public Information Notice on the Executive Board Discussion, and Statement by the Executive Director for The Gambia
IMF Staff Country Reports, September 3, 2010
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- The Gambia: 2010 Article IV Consultation: Staff Report, Statement by the IMF Staff Representative, Public Information Notice on the Executive Board Discussion, and Statement by the Executive Director for The Gambia
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Bibliographic details
- Published: September 3, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455202539.002
Overview
- The Gambian economy showed strong growth and low inflation during the global crisis under the Extended Credit Facility (ECF), despite a sharp drop in tourism and remittance receipts.
- Executive Directors appreciated the macroeconomic policy framework and stressed the importance of achieving the MDGs and targets on poverty-reducing expenditures.
- Directors encouraged strengthening of fiscal performance to anchor macroeconomic stability and reduce the debt burden.
- Directors strongly supported tax reform and welcomed budget procedures and their execution.
- Directors supported recent improvements in debt management and stressed the importance of debt sustainability.
Macroeconomic performance
- Strong growth and low inflation during the global crisis under the Extended Credit Facility (ECF).
- Significant shock: sharp drop in tourism and remittance receipts.
Fiscal policy, debt management, and reforms
- Encouraged strengthening of fiscal performance to:
- anchor macroeconomic stability
- reduce the debt burden
- Strong support for tax reform.
- Welcome for budget procedures and their execution.
- Support for recent improvements in debt management.
- Emphasis on the importance of debt sustainability.
- Stress on achieving the MDGs and targets on poverty-reducing expenditures.
Subject coverage and keywords
- Subject: Balance of payments statistics, Budget planning and preparation, Economic and financial statistics, Expenditure, National accounts, Public financial management (PFM), Revenue administration
- Keywords: Africa, Balance of payments statistics, CR, end July, expenditure measure, Gambia well, Gambian economy, Global, ISCR, July, policy objective, transportation price, West Africa