The Gambia: First Review Under the Extended Credit Facility Arrangement, Request for Modification of a Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for The Gambia

The Gambia; First Review Under the Extended Credit Facility Arrangement, Request for Modification of a Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for The Gambia
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Volume/Issue: Volume 2024 Issue 218
Publication date: July 2024
ISBN: 9798400283154
$20.00
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Finance , Economics- Macroeconomics , Public Finance , Policy discussion , introduced foreign exchange policy , central bank official , procurement authority , revenue collection , policy commitment , Fiscal stance , Global

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Summary

The Gambian authorities continue democratic and justice reforms. Economic recovery is strengthening while inflation is progressively decelerating albeit remaining high. The 2023 fiscal outturns reflected good revenue performance, but capital spending pressures weighed on the fiscal balance. Following the adoption of a new foreign exchange policy, the wedge between the official and parallel market exchange rates has largely closed. Structural reforms are advancing. The economic outlook is subject to large downside risks, particularly owing to global geopolitical tensions.