The Gambia

The Gambia showed good economic performance under the Poverty Reduction and Growth Facility (PRGF) Arrangement. Executive Directors commended the reforms in the financial sector, the substantial reduction and rationalization of external tariffs, and the settlement of the property dispute with Alimenta, and stressed the need for a tightened monetary policy stance. They welcomed the new PRGF program, which aims at improving fiscal discipline, ensuring good governance, implementing structural and financial reforms, and reducing poverty. They approved for The Gambia a three-year Arrangement under the PRGF, and use of interim assistance.Article IV consultations;Economic conditions;HIPC Initiative;Poverty Reduction and Growth Facility;expenditure, central bank, balance of payments, debt relief, external debt, domestic debt, current account, public expenditure, debt service, total expenditure, expenditure management, poverty-reducing expenditure, medium-term expenditure framework, public expenditure management, capital expenditure, fiscal policy, external payments arrears, external payments, current account deficit, expenditures, current account balance, debt sustainability, external public debt, medium-term expenditure, recurrent expenditure, public debt, repayments, expenditure framework, public expenditure reviews, debt-relief, debt sustainability analysis, debt management, traditional debt-relief mechanisms, budgetary expenditure, public finances, external loans, mtef, relief mechanisms, repurchases, expenditure control, government debt, expenditure classification, external borrowing, external public sector debt, debt service payments, external debt service, debt services, public sector debt, poverty-reducing expenditures, public expenditure review, foreign debt, reserve management, external debt sustainability, expenditure management system, reserve assets, bilateral donor, expenditure policies, external liabilities, nonconcessional debt, bilateral creditors, debt data, domestic borrowing, external debt services, external liability, external debt data, loan disbursements, budget ? ? balance, expenditure data, debt-service obligations, external debt management, expenditure tracking, credit tranches, expenditure survey, stock-of-debt operation, domestic savings, public expenditure management system, public expenditure tracking, public spending, external resources, budget balance, debt management unit, debt unit, debt stock, budget systems, domestic financing, multilateral loans, balance of payment, debt statistics, expenditure programs, loan disbursement, debt servicing, external debt statistics, traditional debt relief