IMF approves US$38.15 million disbursement for The Gambia

The International Monetary Fund (IMF) Executive Board has approved an immediate disbursement of approximately US$38.15 million to The Gambia. This follows the completion of the Fourth Review under the Extended Credit Facility (ECF) and the First Review under the Resilience and Sustainability Facility (RSF).

Under the ECF arrangement, which was approved in January 2024, the completion of the fourth review allows for a disbursement of SDR 12.44 million (about US$17.00 million). This brings the total disbursements under this facility to approximately US$68.00 million. Additionally, the completion of the first review under the RSF arrangement enables a disbursement of SDR 15.54 million (about US$21.24 million) to support climate resilience and long-term macroeconomic stability.

Acting Chair and Minister of Finance and Economic Affairs, Seedy K. M. Keita, stated that The Gambia’s economy is experiencing robust growth and declining inflation. He noted that the implementation of the ECF programme has been satisfactory and that reforms under the RSF are advancing. The government intends to meet 2025 fiscal targets through strong tax collection and expenditure restraint.