Below is a summary of the Fifth Review for the Gambia Under the IMF’s Extended Credit Facility Arrangement and Requests for Augmentation of Access; Waiver for Non-observance of a Performance Criterion; Modification of a Performance Criterion, and Financing Assurances Review-Press Release; Staff Report, and Statement by the Executive Director for The Gambia.
According to the statement, the above came in the wake of repercussions of the war in Ukraine which threatens economic and social stability. That following a slight uptick in July-August, new COVID-19 cases have declined to almost nil recently while the vaccination rate remains low at around 22 percent of the population.
The statement said the Gambia is also suffering from more frequent climatic shocks, including recent major flooding. That the country continues to advance its social and justice reforms, following parliamentary elections and a cabinet reshuffle in May 2022, without any expected change in the overall direction of economic policies.