Financial Fraud in Gambia: A Significant Vulnerability
A recent diagnostic mission by the International Monetary Fund (IMF) has highlighted financial fraud and corruption as significant vulnerabilities in The Gambia’s governance framework.
Challenges Remain Despite Progress
The IMF team, led by Olivier Basdevant, visited Banjul from January 10-24, 2023, to assess the country’s governance weaknesses and propose options for addressing them. While significant progress has been made in bringing various legislations in line with best practices, challenges remain.
Governance Weaknesses
Public processes appear vulnerable to corruption and uneven decisions due to limited digitalization and undefined conditions for applying discretionary powers. The diagnostic report highlights that:
- Official records are often paper-based, making access and reliability challenging.
- Public websites and e-platforms are not always up-to-date, hampering the delivery of timely and quality public services.
Limited Administrative Capacity
Limited administrative capacity is a major concern, hindering the country’s ability to deliver effective governance and reduce corruption vulnerabilities. The IMF team welcomed the authorities’ intention to continue strengthening their capacity and encouraged them to develop a comprehensive national strategy for good governance.
Anti-Corruption Efforts
The report commends the authorities for their anti-corruption efforts, including the passage of an anti-corruption bill that is broadly aligned with best practices. However, some provisions could be improved, particularly regarding:
- The independence of the anti-corruption commission
- Effective enforcement
IMF Support
The IMF stands ready to support The Gambia’s governance reform agenda through continued capacity development and encourages the authorities to develop a comprehensive national strategy for good governance.
Contact
IMF Communications Department Media Relations Press Officer: Eva Graf Phone: +1 202 623-7100 Email: media@imf.org @IMFSpokesperson