The Gambia: 2023 Article IV Consultation and Request for an Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for The Gambia

IMF Staff Country Reports, January 18, 2024

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The Gambia: 2023 Article IV Consultation and Request for an Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for The Gambia

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Bibliographic details

• Published: January 18, 2024
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9798400262883.002

Program objectives and overall assessment

• Presents the 2023 Article IV consultation and Request for an Arrangement under the Extended Credit Facility (ECF) with The Gambia.
• The ECF-supported program aims to:
  • strengthen economic recovery,
  • tackle inflation,
  • address foreign exchange pressures,
  • reduce debt vulnerabilities,
  • advance structural reforms,
  • foster strong and inclusive growth.

Article IV consultation focus areas and analytical themes

• The Article IV policy consultation focused on:
  • drivers of inflation,
  • macroeconomic implications of the gender gap,
  • climate-related risks and policies,
  • debt sustainability,
  • external stability.

Key findings, vulnerabilities, and policy recommendations

• Findings and vulnerabilities:
  • Lingering vulnerabilities remain, including the upcoming expiration of debt service deferrals.
  • Foreign exchange pressures and debt vulnerabilities are highlighted as priorities.
• Policy recommendations and priorities:
  • Build fiscal and external buffers in view of lingering vulnerabilities.
  • Persevere in the ambitious structural reform agenda, including:
  • enhancing governance,
  • improving the business environment to support private sector-led growth and poverty reduction.
  • Adopt strong climate-related policies.
  • Tackle gender inequality to support more resilient and inclusive growth.

Thematic subjects and keywords (as listed)

• Subject:
  • Budget planning and preparation,
  • External debt,
  • Foreign exchange,
  • International organization,
  • Monetary policy,
  • Public debt,
  • Public financial management (PFM),
  • Revenue administration
• Keywords:
  • Africa,
  • arrangement Extended Credit Facility,
  • article IV policy consultation,
  • Budget planning and preparation,
  • ECF arrangement,
  • foreign exchange pressure,
  • Global,
  • IIP source data,
  • liability positions vis-à-vis nonresident,
  • Middle East,
  • reform agenda,
  • TA mission,
  • West Africa

Publication and document metadata

• Publication date: January 18, 2024
• Pages: 129
• Volume: 2024
• Issue: 015
• Series: Country Report No. 2024/015
• DOI: https://doi.org/10.5089/9798400262883.002
• Stock No: 1GMBEA2024001
• ISBN: 9798400262883
• ISSN: 1934-7685

Source: The Gambia: 2023 Article IV Consultation and Request for an Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for The Gambia

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