IMF Staff Country Reports

The Gambia : Second Review Under the Staff-Monitored Program - Press Release and Staff Report for The Gambia

Author/Editor:

International Monetary Fund. African Dept.

Publication Date:

June 28, 2018

Electronic Access:

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Summary:

This paper discusses The Gambia’s Second Review under the Staff-Monitored Program (SMP). The program is broadly on track. All quantitative targets for end-December 2017 and end-March 2018 were met, as were most of the structural benchmarks, three of which needed to be rephased and redefined. However, the continuous target on contracting new nonconcessional external debt was breached, owing to a $25 million loan. The IMF staff supports the completion of the second review under the SMP. The IMF staff also encourages the authorities to ensure macroeconomic stability and step up the pace of structural reforms to strengthen economic governance and tackle the legacy of debilitating public debt to pave the way for a possible Extended Credit Facility arrangement.

Series:

Country Report No. 18/197

Subject:

Central Banks Debt sustainability Economic indicators Economic statistics External debt Financial stability Fiscal policy Fiscal reforms Letters of Intent Monetary policy Press releases Staff reports Staff-monitored programs