International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Nov 05, 2024

The Gambia: International Monetary Fund (IMF) Staff Reaches Staff-Level Agreement on the Second Review of the Extended Credit Facility Arrangement

Economic recovery is strengthening while inflation has decelerated significantly

IMF staff and the Gambian authorities have reached a staff-level agreement on economic policies to conclude the second review of the program under the Extended Credit Facility (ECF) arrangement. Economic recovery is strengthening while inflation has decelerated significantly. The Gambia’s reform agenda is advancing despite challenges to fiscal policy. An…

Source: International Monetary Fund (IMF) | Oct 11, 2024

International Monetary Fund (IMF) Staff Concludes Visit to The Gambia

The Gambia’s reform agenda is advancing despite challenges to fiscal policy

IMF staff and the Gambian authorities conducted productive discussions on economic policies to conclude the second review of the program under the Extended Credit Facility (ECF) arrangement; Economic recovery is strengthening while inflation has decelerated to single digits; The Gambia’s reform agenda is advancing despite challenges to fiscal policy; The IMF remains committed…

Source: International Monetary Fund (IMF) | Nov 02, 2023

International Monetary Fund (IMF) Reaches Staff-Level Agreement on a New Arrangement under the Extended Credit Facility and Conducts Discussions on the 2023 Article IV Consultation with The Gambia

The staff-level agreement is subject to approval by the IMF Management and Executive Board, which will make available about US$10.9 million

IMF staff and the Gambian authorities have reached a staff-level agreement on economic policies and reforms to be supported by a new 3-year arrangement under the Extended Credit Facility (ECF), with requested access of SDR74.64 million (around US$100 million); The ECF-supported program aims to strengthen economic recovery, tackle inflation, address…

Source: International Monetary Fund (IMF) | Mar 24, 2023

International Monetary Fund (IMF) Staff Completes Discussions for the Sixth Review under the Extended Credit Facility Arrangement for The Gambia

The mission team also had fruitful discussions with representatives of the private sector, civil society, and development partners

A team from the International Monetary Fund (IMF), led by Mr. Ivohasina Fizara Razafimahefa, Mission Chief for The Gambia, held discussions with the Gambian authorities during March 14–24, 2023, on the sixth review of The Gambia’s economic program supported by the IMF’s Extended Credit Facility (ECF) arrangement. [1] At the…

Source: International Monetary Fund (IMF) | Jan 26, 2023

International Monetary Fund (IMF) Staff Concludes Governance Diagnostic for The Gambia

An IMF mission led by Olivier Basdevant visited Banjul over the period January 10—24, 2023, to conduct a diagnostic of governance and corruption vulnerabilities in The Gambia

At the request of The Gambia authorities, an IMF mission conducted a diagnostic to assess the strength of the governance framework in The Gambia, identify vulnerabilities, including to corruption, and offer reform options, guided by the IMF’s framework for Enhanced Engagement in Addressing Governance Vulnerabilities. The authorities made significant progress…

Source: International Monetary Fund (IMF) | Oct 10, 2020

Opening Remarks at Mobilizing with Africa II High-Level Virtual Event

We are here today because COVID-19 continues its assault on the health and wellbeing of people, and on the economy

By Managing Director Kristalina Georgieva As prepared for delivery Excellencies, Ministers, Ladies and Gentlemen—thank you for participating in this important event. I am honored to co-host with President Malpass. And I would like to recognize U.N. Secretary General Guterres and AU Commission Chair Moussa Faki Mahamat. We are here today…

Source: International Monetary Fund (IMF) | Apr 16, 2020

Coronavirus - Gambia: International Monetary Fund (IMF) Executive Board approves a US$21.3 million disbursement to The Gambia to address the COVID-19 Pandemic

The global COVID-19 pandemic is straining The Gambian economy, notably as international travel and tourism are halted

The COVID-19 pandemic is projected to lower growth of The Gambian economy to 2.5 percent in 2020; to address the urgent balance-of-payments need, the IMF Executive Board has approved financial assistance for The Gambia in the amount of US$21.3 million under the Rapid Credit Facility. The country will also benefit…