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This paper discusses The Gambia’s Fourth Review under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance and Modification of a Performance Criterion, and Financing Assurances Review. Despite the various waves of the coronavirus disease 2019 pandemic, the Gambian economy grew by 4.3 percent in 2021 and is expected to grow by 5.6 percent in 2022. Growth is projected to reach 5.6 percent in 2022, predicated on strong remittance inflows, a robust expansion of the construction sector, and large public investment projects. The repercussions of the war in Ukraine intensify inflationary pressures, exacerbate pandemic-related uncertainties, dampen tourism prospects, and disrupt the supply of food and agricultural inputs. The central bank took initial measures to contain inflationary pressures, as inflation reached 11.7 percent at end-April 2022. The authorities remain committed to strong policy measures and structural reforms, including on fiscal management, State-Owned Enterprises, and governance.
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The repercussions of the war in Ukraine are threatening economic and social stability. Following a slight uptick in July-August, new COVID-19 cases have declined to almost nil recently while the vaccination rate remains low at around 22 percent of the population. The Gambia is also suffering from more frequent climatic shocks, including a recent major flooding. The country continues to advance social and justice reforms. Following a parliamentary election, President Barrow reshuffled the Cabinet in May 2022, without any expected change in the overall direction of economic policies.
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The repercussions of the war in Ukraine are threatening economic and social stability. Following a slight uptick in July-August, new COVID-19 cases have declined to almost nil recently while the vaccination rate remains low at around 22 percent of the population. The Gambia is also suffering from more frequent climatic shocks, including a recent major flooding. The country continues to advance social and justice reforms. Following a parliamentary election, President Barrow reshuffled the Cabinet in May 2022, without any expected change in the overall direction of economic policies.
Money and Monetary Policy --- International Economics --- Public Finance --- Exports and Imports --- Foreign Exchange --- Budgeting --- Monetary Policy --- International Agreements and Observance --- International Organizations --- International Lending and Debt Problems --- Debt --- Debt Management --- Sovereign Debt --- Taxation, Subsidies, and Revenue: General --- National Budget --- Budget Systems --- Monetary economics --- International institutions --- Public finance & taxation --- International economics --- Currency --- Foreign exchange --- Budgeting & financial management --- Monetary policy --- International organization --- Public debt --- Revenue administration --- Debt service --- External debt --- International agencies --- Debts, Public --- Debts, External --- Revenue --- Gambia, The
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This paper discusses The Gambia’s Fourth Review under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance and Modification of a Performance Criterion, and Financing Assurances Review. Despite the various waves of the coronavirus disease 2019 pandemic, the Gambian economy grew by 4.3 percent in 2021 and is expected to grow by 5.6 percent in 2022. Growth is projected to reach 5.6 percent in 2022, predicated on strong remittance inflows, a robust expansion of the construction sector, and large public investment projects. The repercussions of the war in Ukraine intensify inflationary pressures, exacerbate pandemic-related uncertainties, dampen tourism prospects, and disrupt the supply of food and agricultural inputs. The central bank took initial measures to contain inflationary pressures, as inflation reached 11.7 percent at end-April 2022. The authorities remain committed to strong policy measures and structural reforms, including on fiscal management, State-Owned Enterprises, and governance.
Money and Monetary Policy --- International Economics --- Public Finance --- Exports and Imports --- Macroeconomics --- Diseases: Contagious --- Criminology --- Monetary Policy --- International Agreements and Observance --- International Organizations --- International Lending and Debt Problems --- Debt --- Debt Management --- Sovereign Debt --- Taxation, Subsidies, and Revenue: General --- Fiscal Policy --- National Government Expenditures and Related Policies: General --- Monetary economics --- International institutions --- Public finance & taxation --- International economics --- Infectious & contagious diseases --- Corporate crime --- white-collar crime --- Monetary policy --- International organization --- Public debt --- External debt --- Revenue administration --- International agencies --- Debts, Public --- Debts, External --- Debt service --- Revenue --- Fiscal policy --- Gambia, The
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