{"id":17288,"date":"2022-06-12T14:08:20","date_gmt":"2022-06-12T14:08:20","guid":{"rendered":"https:\/\/www.africa-press.net\/gambia\/uncategorized\/imf-executive-board-approves-6-72m-disbursement-for-gambia"},"modified":"2022-06-12T14:33:56","modified_gmt":"2022-06-12T14:33:56","slug":"imf-executive-board-approves-6-72m-disbursement-for-gambia","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/gambia\/all-news\/imf-executive-board-approves-6-72m-disbursement-for-gambia","title":{"rendered":"IMF Executive Board approves $ 6.72m disbursement for Gambia"},"content":{"rendered":"

Africa-Press – Gambia. <\/strong><\/span>he Executive Board of the International Monetary Fund (IMF) has approved the immediate disbursement of SDR 5 million, about US$ 6.72 million for the Gambia.<\/p>\n

In a press statement, the IMF announced that it has completed the fourth review under the Extended Credit Facility (ECF) arrangement for The Gambia.<\/p>\n

The disbursed amount aims to help meet the country\u2019s balance-of-payments and fiscal financing needs, support the post-pandemic recovery, and address challenges from the war in Ukraine.<\/p>\n

This brings total disbursements under the ECF arrangement to SDR 45 million. The statement indicated that the IMF Board also completed a financing assurances review and granted a waiver of nonobservance of a performance criterion on the ceiling on the net domestic borrowing of the central government.<\/p>\n

The ECF arrangement for The Gambia was approved by the IMF\u2019s Executive Board on March 23, 2020, with an initial total access of SDR 35 million (or 56.3% of quota) that was augmented to SDR 55 million (88.4% of quota) at the time of the completion of the first review under the ECF, on January 15, 2021<\/a>.<\/p>\n

The Gambia has also benefited from an IMF<\/a> Rapid Credit Facility disbursement <\/a>of SDR 15.55 million approved on April 15, 2020, and received debt service relief from the IMF under the Catastrophe Containment and Relief Trust, <\/a>totalling SDR 7.9 million.<\/p>\n

The Gambia\u2019s economic growth is estimated at 4.3% in 2021 despite the various waves of the COVID-19 pandemic. Growth is projected to reach 5.6% in 2022, predicated on strong remittance inflows, a robust expansion of the construction sector, and large public investment projects.<\/p>\n

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% at end-April 2022.<\/p>\n

The authorities are advancing reforms on several fronts, including the transparency of COVID-19 spending, the institutional framework of State-Owned Enterprises, revenue administration, and public financial management.<\/p>\n

For More News And Analysis About Gambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Gambia. he Executive Board of the International Monetary Fund (IMF) has approved the immediate disbursement of SDR 5 million, about US$ 6.72 million for the Gambia. In a press statement, the IMF announced that it has completed the fourth review under the Extended Credit Facility (ECF) arrangement for The Gambia. The disbursed amount […]<\/p>\n","protected":false},"author":84,"featured_media":17287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3,7,8],"tags":[2355,2361,6948,260,5593],"class_list":["post-17288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","category-head-lines","category-homepage-english","tag-africa-press","tag-africa-press-gambia","tag-disbursement","tag-gambia","tag-imf"],"yoast_head":"\nIMF Executive Board approves $ 6.72m disbursement for Gambia - Gambia<\/title>\n<meta name=\"description\" content=\"he Executive Board of the International Monetary Fund (IMF) has approved the immediate disbursement of SDR 5 million, ab ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/gambia\/all-news\/imf-executive-board-approves-6-72m-disbursement-for-gambia\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF Executive Board approves $ 6.72m disbursement for Gambia\" \/>\n<meta property=\"og:description\" content=\"he Executive Board of the International Monetary Fund (IMF) has approved the immediate disbursement of SDR 5 million, ab ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/gambia\/all-news\/imf-executive-board-approves-6-72m-disbursement-for-gambia\" \/>\n<meta property=\"og:site_name\" content=\"Gambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-12T14:08:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-12T14:33:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/06\/postQueueImg_1-62a5f92524892.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"731\" \/>\n\t<meta property=\"og:image:height\" content=\"409\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/imf-executive-board-approves-6-72m-disbursement-for-gambia#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/imf-executive-board-approves-6-72m-disbursement-for-gambia\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"IMF Executive Board approves $ 6.72m disbursement for Gambia\",\"datePublished\":\"2022-06-12T14:08:20+00:00\",\"dateModified\":\"2022-06-12T14:33:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/imf-executive-board-approves-6-72m-disbursement-for-gambia\"},\"wordCount\":332,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/imf-executive-board-approves-6-72m-disbursement-for-gambia#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/06\/postQueueImg_1-62a5f92524892.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Gambia\",\"disbursement\",\"Gambia\",\"IMF\"],\"articleSection\":[\"all news\",\"community\",\"head lines\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/gambia\/all-news\/imf-executive-board-approves-6-72m-disbursement-for-gambia#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/imf-executive-board-approves-6-72m-disbursement-for-gambia\",\"url\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/imf-executive-board-approves-6-72m-disbursement-for-gambia\",\"name\":\"IMF Executive Board approves $ 6.72m disbursement for Gambia - 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