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IMF Says High Food & Energy Cost Caused High Inflation In Gambia

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Mamadou Barry, IMF Resident Representative in The Gambia.

By Buba Gagigo

The International Monetary Fund (IMF) revealed that the high food and energy prices caused the high inflation in the Sub-Saharan Africa (SSA), including  The Gambia, included.

“High food and energy prices have led to high inflation for several countries, mostly those with flexible exchange rate regimes. About 40 percent of the countries in the region have double-digit inflation including, The Gambia. Rising prices in SSA have mirrored worldwide trends, where inflation has increased more rapidly and more persistently than expected,” IMF stated.

The International Monetary Fund made the revelation in its presentation for the Joint In-Country Launch of its October 2022 Regional Economic Outlook (REO) for Sub-Saharan Africa (SSA), and Dialogue on the Rising Cost of Living in The Gambia.

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