Gambian Finance Minister Seedy Keita and IMF Mission Chief Eva Jenkner
By Buba Gagigo
The International Monetary Fund (IMF) has reached a staff-level agreement with the Government of The Gambia for financial support totaling approximately $100.9 million, under the Resilience and Sustainability Facility (RSF), aimed at enhancing the country’s resilience to climate change.
The agreement follows a two-week mission led by Ms. Eva Jenkner, which took place in Banjul from April 2 to April 16, 2025. The IMF team also concluded the third review of The Gambia’s economic reform program supported under the 36-month Extended Credit Facility (ECF) arrangement, initially approved in January 2024.
“Subject to approval by the IMF’s Executive Board, the completion of the review would enable a disbursement of SDR 12.44 million(about US$16.8 million), bringing the total disbursement under the arrangement to SDR 37.71 million (about US$51.0 million),” the IMF stated.
In addition, the IMF announced a staff-level agreement on a request for access to the RSF, which could unlock SDR 46.65 million (approximately $65 million), pending approval by the IMF Executive Board, tentatively scheduled for mid-June 2025.
The IMF noted that The Gambia’s economic outlook remains favorable. Economic growth is projected to reach 6 percent in 2024, with inflation expected to return to single digits by early 2025. The Fund also commended continued progress on the government’s homegrown reform agenda, despite fiscal pressures.