The Gambia: 2015 Article IV Consultation-Press release; Staff Report; and Statement by the Executive Director for the Gambia
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Summary:
The Gambia’s large balance of payments and fiscal imbalances, caused by policy slippages and persistent financial difficulties in public enterprises, were exacerbated by the impact of the regional Ebola outbreak on tourism and the delayed summer rains in 2014, which widened the imbalances further. The Fund supported The Gambia with an RCF disbursement in early April 2015 to meet the urgent balance of payments needs arising from these shocks. The authorities also embarked on an economic program with a strong 2015 budget and structural reforms to be monitored under a staff-monitored program (SMP), and efforts to secure donor support.
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