The Gambia: Request for a Staff-Monitored Program; Press Release and Staff Report

May 8, 2019

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Format: Chicago

The Gambia: Request for a Staff-Monitored Program; Press Release and Staff Report, (USA: International Monetary Fund, 2019) accessed November 21, 2024

Summary

This paper discusses The Gambia’s request for a Staff-Monitored Program (SMP). The Gambia is enjoying a strong economic recovery, with good prospects of sustained growth over the medium term. In order to consolidate gains and establish a track record for a possible arrangement under the Extended Credit Facility, the authorities are requesting a new SMP covering 2019. The SMP will help build an adequate track record of performance for a potential Fund-supported program. Enhanced domestic revenue mobilization and expenditure control will help create room for much needed public investment and poverty-reducing social spending. The program’s strategy includes fiscal policy to focus on domestic revenue mobilization, improved treasury management and spending prioritization. A prudent borrowing strategy and strengthened oversight of state-owned enterprises, with the focus on containing contingent liabilities, is expected to contribute to anchoring debt sustainability. Monetary policy will remain active to curb inflation pressures and banking supervision vigilant to foster financial stability.

Subject: Budget planning and preparation, Debt service, Debt sustainability analysis, External debt, Public debt, Public financial management (PFM)

Keywords: Africa, Authorities' fiscal consolidation, Budget planning and preparation, Burden threshold, CR, Debt, Debt ratio, Debt service, Debt service, Debt sustainability analysis, Dynamics equation, Envisaged debt restructuring, Financial support, Fiscal consolidation, GDP deflator, Global, ISCR, Management of the International Monetary Fund, Service-to-revenue ratio, Staff-Monitored Program, Sub-Saharan Africa, Sustainability framework, TA strategy

Publication Details

Pages:

96
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/128
Stock No:

1GMBEA2019001
ISBN:

9781498313919
ISSN:

1934-7685

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