Gambia on Track to Complete Two Back-to-Back IMF Programmes, Finance Minister Says

By Makutu Manneh

The Gambia is on course to make history by completing two consecutive Extended Credit Facility (ECF) programmes, according to Minister of Finance and Economic Affairs Seedy Keita.

Speaking at a press conference on Friday, Keita discussed the International Monetary Fund (IMF) Staff-Level Agreement on the sixth review under the ECF and the third review under the Resilience and Sustainability Facility. He explained that the current review is the penultimate one under the country’s second three-year ECF arrangement.

If The Gambia successfully completes the final review, scheduled for spring next year, it will be the first time the country has completed two back-to-back three-year ECF programmes.

“The achievement would mark another record for the country and demonstrates the government’s commitment to economic reforms,” Keita said. “Government will not rest on its laurels and will continue to pursue reforms to develop the economy.”

The minister thanked the IMF for its collaboration during the mission, which he described as “very” successful. A highlight, he said, was taking the IMF team out of the office to see development projects first-hand. These included the Hakalang Road Network in North Bank, the Senegambia Bridge asset recycling transaction, the Kabada Road Network, and the Sukuta-Jabang road infrastructure.

The team also met President Adama Barrow in Mansakonko, giving the Fund a view of how road investments are affecting the lives of Gambians and the wider economy.

Keita said the field visits were important in showing the Fund the real impact of the investments, beyond the figures discussed in offices.