The International Monetary Fund (IMF) has approved an immediate disbursement of approximately US$38.15 million to The Gambia, following the country’s successful completion of the Fourth Review under the Extended Credit Facility (ECF) and the First Review under the Resilience and Sustainability Facility (RSF).

The approval comes as The Gambia continues to demonstrate steady economic growth and declining inflation, reflecting what officials describe as sustained macroeconomic stability.

The IMF Executive Board meeting was held at the Fund’s headquarters in Washington, DC, and chaired by The Gambia’s Minister of Finance and Economic Affairs, Seedy K.M. Keita, who served in the capacity of Acting Chair.

In his statement to the Board, Mr Keita highlighted the government’s continued commitment to a comprehensive reform agenda aimed at consolidating economic gains and safeguarding the country’s development trajectory.

He said the government remains focused on meeting its 2025 fiscal targets through strong revenue collection and disciplined spending.

At the same time, he emphasised the importance of avoiding excessive expenditure during the election period while ensuring social and development programmes remain protected.

Monetary policy and price stability were also highlighted as priorities.

Mr Keita noted that the government intends to maintain a market-determined exchange rate, with adjustments to monetary policy guided by data and economic indicators.

In addition, he stressed ongoing efforts to strengthen governance, enhance anti-corruption frameworks, and improve the overall business environment, which are critical for boosting private sector activity and creating new employment opportunities.

Climate resilience reforms under the RSF also featured prominently in the statement, with the government committing to measures designed to protect the economy against environmental shocks and ensure long-term stability.

The IMF’s approval of the disbursement is seen as a vote of confidence in The Gambia’s reform programme and its efforts to sustain economic growth, strengthen fiscal discipline, and enhance governance and climate resilience.

With the new funds, The Gambia is expected to further consolidate macroeconomic stability, maintain investor confidence, and continue its trajectory toward sustainable growth in the coming years.

By Adama Makasuba