Connect with us

Africa

IMF Report: Gambia’s economic growth on the rise

Published on

The Gambian economy has grown by six percent in 2019, according to an International Monetary Fund (IMF) report.

IMF officials on a monitoring mission to Banjul informed the Gambian President Adama Barrow that the country’s GDP growth has been impressive throughout the year ended and that the country’s GDP prospects also remain good for 2020.

The IMF head of mission to Banjul, Jaroslaw Wreczoreck informed President Barrow of the outcome of a monitoring mission which shows the country’s economic status.

During a meeting at State House in Banjul on Friday, 7 February 2020, the IMF mission chief also said inflation remains low, the Dalasi currency has stabilised and that resources have increased.

The economic assessment was done under the Staff Management Programme of the institution featuring a discussion on the country’s demand for a new programme with funding from the IMF’s Extended Credit Facility.

The IMF pointed out the importance of tax collection to enable The Gambia Government to provide the resources needed for national development.

However, the Gambia was said to have experienced a sharp decrease in tourists’ arrival in 2019 due to financial challenges that hit Thomas Cook airline, which was the main carrier of tourists to The Gambia.

Meanwhile, the new Gambia Government under President Barrow is poised to mechanise the agricultural sector, which is the backbone of the country’s economy followed by Tourism.

– APA

Trending