The Gambia: 2015 Article IV Consultation-Press release; Staff Report; and Statement by the Executive Director for the Gambia
IMF Staff Country Reports, September 28, 2015
Source details
- Canonical URL
- The Gambia: 2015 Article IV Consultation-Press release; Staff Report; and Statement by the Executive Director for the Gambia
Other formats
Bibliographic details
- Published: September 28, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513558912.002
Summary and key findings
- The Gambia has experienced large balance of payments and fiscal imbalances.
- Causes identified: persistent policy slippages in recent years and financial difficulties in public enterprises.
- Major policy slippages 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.
IMF support and programs
- IMF support provided through a Rapid Credit Facility (RCF) disbursement in early April 2015.
- A Staff-Monitored Program (SMP) was in place but was pushed off track following policy slippages.
Policy recommendations
- Prioritize infrastructure investments that:
- help address poverty, and
- improve the business environment.
- Continue efforts to improve supervision capacity to enhance financial stability.
Subject coverage and keywords
- Subject: Balance of payments statistics, Budget planning and preparation, Economic and financial statistics, Exchange rates, Foreign exchange, Public debt, Public financial management (PFM)
- Keywords: Africa, Balance of payments statistics, Budget planning and preparation, CR, Exchange rates, fund staff, Gambia, Global, government, ISCR, land plot, Middle East, policy slippage, poverty alleviation goal, RCF disbursement, vehicle policy, West Africa