The Gambia: Sixth Review Under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance of a Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for The Gambia
IMF Staff Country Reports, June 21, 2023
Source details
- Canonical URL
- The Gambia: Sixth Review Under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance of a Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for The Gambia
Other formats
Bibliographic details
- Published: June 21, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400244292.002
Executive decision and financing
- The IMF Executive Board decision allows for an immediate disbursement of funds to The Gambia to help meet the country’s financing needs, address the repercussions of the war in Ukraine, and support the post-pandemic recovery.
- The review includes a Request for a Waiver of Nonobservance of a Performance Criterion, and a Financing Assurances Review.
Current macroeconomic environment and shocks
- Exogenous shocks continue to weigh on the country’s socio-economic environment, impeding vigorous economic activity.
- Inflation pressures persist.
- The Gambian authorities are taking measures to address the exogenous shocks and remain committed to strong policies and reforms.
Fiscal policy stance and public debt considerations
- Fiscal policy in 2023 will remain anchored on the adopted budget despite multiple shocks, given high debt vulnerabilities.
- The authorities will take necessary measures, including the collection of some significant budgetary resources, to maintain the fiscal anchor.
Structural reforms and policy priorities
- Structural reforms will be pursued and accelerated, particularly on:
- revenue administration
- public financial management
- state-owned enterprises management
- governance
- anti-corruption
Subjects and keywords (as provided)
- Subjects: Debt service, External debt, Foreign exchange, International organization, Monetary policy, Public debt, Revenue administration
- Keywords: anti-corruption bill, Debt service, ECF arrangement, financing amendment bill, Gambia's Extended Credit Facility, Global, market forces, Middle East, PPP bill, procurement authority, West Africa
IMF Staff Country Report — The Gambia: Sixth Review Under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance of a Performance Criterion, and Financing Assurances Review; Staff Report; and Statement by the Executive Director for The Gambia (June 21, 2023).
Content in this bundle
- 1gmbea2023001