The Gambia: Second Review Under the Staff-Monitored Program - Press Release and Staff Report for The Gambia

International Monetary Fund

No 2018/197, IMF Staff Country Reports from International Monetary Fund

Abstract: 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. However, the continuous target on contracting new nonconcessional external debt was breached, owing to a US$25 million loan. The IMF staff supports the completion of the second review under the SMP. The IMF staff also encourages the 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.

Keywords: ISCR; CR; debt; medium-term economic and fiscal framework; GDP; NDP financing strategy; debt vulnerability; burden indicator; private sector; payment arrears; sustainability Framework; NAWEC debt; debt stock; debt management; Debt sustainability analysis; Budget planning and preparation; Debt service; Africa; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 90
Date: 2018-06-28
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