Gambia to Launch National Trust Fund, Mobilize Global Support for Refugees

By: Fatou Krubally

The International Monetary Fund (IMF) Mission Chief for The Gambia, Eva Jenkner, has commended the government for maintaining fiscal discipline and advancing key governance reforms under its economic recovery programme.

She, however, cautioned that the depreciation of the dalasi and on-going global uncertainties continue to pose challenges to the country’s economic stability.

Ms. Jenkner made these remarks yesterday while responding to questions from journalists at a joint press conference with the Ministry of Finance and Economic Affairs (MoFEA) in Banjul. The press briefing followed the conclusion of the IMF’s fourth review of the Extended Credit Facility (ECF) and first review of the Resilience and Sustainability Facility (RSF).

She said the fund has observed “substantial efforts” by the government to tighten expenditure controls and mobilise domestic resources. “We’ve seen a lot of results already this year,” she stated, adding that the authorities are committed to building on the progress achieved so far.

On inflation, the IMF Mission Chief said the Central Bank of The Gambia’s tight monetary stance has yielded positive results, with inflation easing to 7.6 percent in August. She expressed optimism that the rate would reach the bank’s medium-term target by next year.

Turning to governance, Ms. Jenkner confirmed that the shortlist of Anti-Corruption Commission nominees has been submitted to the National Assembly, and the commission is expected to become operational in 2026 once approved.

Commenting on the foreign currency swap agreement, she clarified that it is not part of the IMF’s central government debt assessment and assured that it would not threaten financial stability.

While describing The Gambia’s debt as sustainable, Ms. Jenkner warned that global conflicts, trade uncertainties, and other external shocks could affect key sectors such as tourism and commodity prices.

“The Gambia is taking the right steps to stand on its own feet,” she said, urging authorities to stay the course on fiscal consolidation while safeguarding social spending through poverty-reduction measures.

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 By: Fatou Krubally The International Monetary Fund (IMF) Mission Chief for The Gambia, Eva Jenkner, has commended the government for…
The post Gambia to Launch National Trust Fund, Mobilize Global Support for Refugees appeared first on .