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Gambia African Regional Representative Meets with Ministers and Government Officials

Banjul, The Gambia - The African Regional Representative (AFR) of the International Monetary Fund (IMF) has met with key government officials and ministers in Banjul to discuss the country’s economic development.

Deepening Democratic Transformation

The AFR representative, accompanied by a team from the IMF, held discussions with President Adama Barrow, Minister of Finance and Economic Affairs, Mambury Njie, Governor of the Central Bank of The Gambia (CBG), and other government officials. The meeting focused on deepening democratic transformation in the country.

Economic Reforms

According to a statement from the IMF: “The Gambia is strengthening its democratic transformation following decades of poor governance. Several major social and justice reforms were implemented since the late 2010s, including on civil liberties, press freedom, seizure of stolen assets under the former regime, and a robust process of truth, reconciliation, and reparations.”

IMF Support

The IMF has been supporting the Gambia’s socio-economic reforms through its 2020-23 Extended Credit Facility (ECF) program. The program has helped mitigate the impacts of multiple large exogenous shocks.

Next Steps

The next three years will offer a window of opportunity to further deepen social, institutional, and economic reforms in the country. The meeting with the IMF representative is seen as a crucial step towards achieving this goal.

Other Issues Discussed

Other issues discussed during the meeting included:

  • Debt sustainability analysis
  • External sector assessment
  • Risk assessment matrix
  • Implementing structural benchmarks to improve the country’s economic stability

The meeting comes at a critical time for the Gambia as it seeks to rebuild its economy and strengthen its democratic institutions. The IMF’s support is seen as crucial in achieving these goals.

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