Africa > Gambia, The

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International Monetary Fund
The Gambian economy performed well in the face of external shocks under the Extended Credit Facility. Executive Directors welcomed the 2011 budget, which focuses mainly on revenue enhancement, limiting government’s domestic borrowing, and reduction of poverty. They agreed that IMF engagement has helped in anchoring the macroeconomic policy framework, fiscal adjustment, and signaling the donor community. Directors noted the recommendations of the Ex Post Assessment update and agreed that IMF engagement with The Gambia had a positive impact and granted an extension of the current arrangement.
International Monetary Fund
This report focuses on IMF Technical Assistance Evaluation—Public Expenditure Management (PEM) Reform in Selected African Countries. Most of the countries examined were colonies of the United Kingdom, inheriting similar and relatively simple budget systems based on an interpretation of the “Westminster model” around the time of independence. Country reviews suggest that PEM problems are widespread and that there are few areas in the PEM systems of the countries covered that do not require strengthening in some way.
International Monetary Fund
This Report on the Observance of Standards and Codes (ROSC)—Data Module provides an assessment of The Gambia’s macroeconomic statistics against the recommendations of the General Data Dissemination System, complemented by an assessment of data quality based on the IMF’s Data Quality Assessment Framework, July 2003. The assessment reveals that the legal framework for statistical activity in The Gambia is broadly adequate. Further legislative effort is under way to promote greater autonomy or authority of some statistical agencies.
International Monetary Fund
This 2003 Article IV Consultation highlights that economic performance of The Gambia deteriorated substantially in 2002–03. A collapse of the groundnut harvest in 2002 led to a contraction of real GDP by 3 percent while also affecting export revenues in 2003. At the same time, poor execution of monetary and fiscal policy, reflecting serious deficiencies in governance, caused the exchange rate to depreciate and inflation to surge. In 2003, the fiscal deficit is estimated to have declined to 6.0 percent of GDP, compared with a budget target of 4.5 percent.
Sheku Bangura, Mr. Robert Powell, and Mr. Damoni N Kitabire
Improving debt management capacity in Heavily Indebted Poor Countries (HIPCs) is a key element of the international community’s strategy for ensuring a robust and sustained exit from unsustainable debt burdens. External debt management is a multi-facetted task involving the formulation of a transparent strategy for managing the level of debt, and establishing an appropriate institutional framework that supports effective implementation. This paper brings together the essential elements of effective debt management practices to guide for those assessing debt management capacity and advising on its improvement in low-income countries.