Sunday, February 5

IMF executive board approves US27.41M for Gambia

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Impressed by the political will and commitment of the Barrow Government to transformative development, the Executive Board of the International Monetary Fund (IMF) has approved the immediate disbursement of US27.41 million to The Gambia.

The additional credit facility from IMF will equally boost the Gambian post-pandemic recovery efforts and ease the challenges in balance of payments.

As assessed by the IMF, The Gambia’s economy is facing the shocks of the war in Ukraine, the COVID-19 pandemic, the floods of the 2022 rain season, low remittance flows, reduced tourist arrivals and high fuel and food import costs.

However, The Gambia Government has been diligently addressing the impacts of the socks and improving the welfare of the population with sound policies and programmes across the country. The COVID-19 relief and recovery packages aside, the Government is ambitiously promoting transparency in public finance management, reforming the justice system, advancing access to information, supporting agricultural transformation and encouraging private sector-led growth.

In conclusion, The Gambia Government profoundly appreciates IMF as a dedicated development partner of the Gambia people.

Signed

Ebrima G. Sankareh

The Gambia Government Spokesperson & Presidential Diaspora Adviser

Banjul, The Gambia

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