{
  "title": "The Gambia: Second Review Under the Staff-Monitored Program - Press Release and Staff Report for The Gambia",
  "publication": "IMF Staff Country Reports, June 28, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/06/28/the-gambia-second-review-under-the-staff-monitored-program-press-release-and-staff-report-46035",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2018/06/28/the-gambia-second-review-under-the-staff-monitored-program-press-release-and-staff-report-46035",
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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, with three of them needing to be re-phased and redefined.",
  "sections": [
    {
      "heading": "Program status and overall assessment",
      "content": "- The Staff-Monitored Program (SMP) is broadly on track.\n- IMF staff supports the completion of the second review under the SMP.\n- IMF staff encourages 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."
    },
    {
      "heading": "Quantitative targets and structural benchmarks",
      "content": "- All quantitative targets for end-December 2017 and end-March 2018 were met.\n- Most structural benchmarks were met; three structural benchmarks needed to be re-phased and redefined."
    },
    {
      "heading": "Compliance breach",
      "content": "- The continuous target on contracting new nonconcessional external debt was breached, owing to a US$25 million loan."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Ensure macroeconomic stability.\n- Step up the pace of structural reforms to strengthen economic governance.\n- Tackle the legacy of debilitating public debt to pave the way for a possible Extended Credit Facility arrangement.\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2018/06/28/the-gambia-second-review-under-the-staff-monitored-program-press-release-and-staff-report-46035/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2018/06/28/the-gambia-second-review-under-the-staff-monitored-program-press-release-and-staff-report-46035/index.json)",
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    "Published: June 28, 2018",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484364048.002",
    "The Staff-Monitored Program (SMP) is broadly on track.",
    "IMF staff supports the completion of the second review under the SMP.",
    "IMF staff encourages 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.",
    "All quantitative targets for end-December 2017 and end-March 2018 were met.",
    "Most structural benchmarks were met; three structural benchmarks needed to be re-phased and redefined.",
    "The continuous target on contracting new nonconcessional external debt was breached, owing to a US$25 million loan.",
    "Ensure macroeconomic stability.",
    "Step up the pace of structural reforms to strengthen economic governance.",
    "Tackle the legacy of debilitating public debt to pave the way for a possible Extended Credit Facility arrangement.",
    "**Country Report**"
  ],
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      "sourceUrl": "https://www.imf.org/-/media/files/publications/cr/2018/cr18197.pdf",
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