The Gambia reaches IMF agreement for $28 million in financing

The Gambia has reached a staff-level agreement with the International Monetary Fund (IMF) following a mission to Banjul. The agreement covers the sixth review of the country’s Extended Credit Facility (ECF) program and the third review of its Resilience and Sustainability Facility (RSF), which could unlock approximately $28 million in additional financing.

Finance Minister Seedy Keita stated that if the final review is completed next spring, The Gambia will become the first nation to complete two consecutive three-year ECF programs. The IMF mission, led by Eva Jenkner, noted that the Gambian economy has remained resilient despite domestic electricity supply disruptions and external uncertainties.

Economic growth is projected at 5.1 percent for both 2026 and 2027, driven by tourism, construction, and remittances. While inflation has decreased to 6.1 percent as of September, it remains above the Central Bank of The Gambia’s 5 percent target. The IMF highlighted risks including climate shocks, geopolitical uncertainty, and energy sector weaknesses, while noting that the government met all eight quantitative performance criteria for end-June 2026.