The Gambia: Third Review Under the Extended Credit Facility Arrangement, Requests for a Waiver of Nonobservance of a Performance Criterion, Modifications of Performance Criteria, and Financing Assurances Review, and Request for an Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for The Gambia

This paper presents The Gambia’s Third Review under the Extended Credit Facility Arrangement, Requests for a Waiver of Nonobservance of a Performance Criterion, Modifications of Performance Criteria, and Financing Assurances Review, and Request for an Arrangement Under the Resilience and Sustainability Facility (RSF). Despite substantial downside risks, The Gambia’s economic outlook remains positive, with growth expected to reach 5.7 percent in 2025 and inflation returning to single digits. The Gambia has made good progress in implementing their economic reform program despite fiscal policy challenges. Key priorities include increasing domestic revenue and advancing with fiscal consolidation to safeguard debt sustainability while strengthening social and spending. At the authorities’ request, the IMF staff proposes an 18-month arrangement under the RSF with access of 75 percent of quota to support ongoing efforts to strengthen long-term balance-of-payments and macroeconomic stability.