Public Management

The Gambia secures another IMF disbursement for post-pandemic recovery

The Gambia secures another IMF disbursement for post-pandemic recovery
Monday, 13 June 2022 18:13

The Gambia, which has been severely hit by covid-19, signed an extended credit facility arrangement with the IMF to revive its economy. In the framework of that arrangement, it is implementing a set of reforms.

The International Monetary Fund (IMF) announced,  Friday (June 10), a US$6.7 million disbursement to support Gambia’s post-pandemic recovery.  According to the IMF release announcing the disbursement, it will also help address challenges from the war in Ukraine. 

The disbursement was approved after the fourth review of the country’s 39-month Extended Credit Facility (ECF) arrangement. The arrangement concluded in March 2020 and entitled The Gambia to 35 million Special Drawing Rights (SDR) but, in January 2021, after the first review, it was revised upward to SDR 55 million. 

 In the press release published after the first review of the ECF arrangement, the IMF explained that the program aims to “help The Gambia to be better prepared for external shocks, pursue high and inclusive growth, lessen debt vulnerabilities, strengthen public financial management and bolster domestic revenue mobilization.” 

According to the IMF, the reforms implemented by The Gambia helped the country achieve positive growth despite the various Covid-19 waves. For 2022, the institution forecasts a 5.6% growth after 4.3% in 2021.

Jean-Marc Gogbeu

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• The IMF has approved an immediate disbursement of $367 million to Ghana, bringing the total financial support provided to the country since May...
Zenith Bank is in advanced talks to acquire a tier-two bank in Kenya. The Central Bank of Kenya has raised capital requirements, triggering market...
• DPI acquires minority stake in Egypt’s largest private hospital group• Funds to support expansion across Egypt and key Gulf countries• Investment among...
WAEMU states collectively raised nearly 7,000 billion CFA francs in the first half of 2025, a record amount driven by increased financing needs, the...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
03

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
04

• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...

Nigeria Secures $100 mln ECOWAS Bank Loan for Lagos-Calabar Coastal Highway
05

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.