See also:
» 04.03.2010 - $8 million support for agric production
» 23.04.2009 - Madrid and Gambia seek to expand trade relations
» 05.09.2008 - British engineer jumps Gambian jurisdiction
» 01.09.2008 - Gambia attains 6.5% economic growth
» 25.08.2008 - Tourist paedophile nabbed in Gambia
» 31.07.2008 - Spain deports more Gambian migrants
» 04.07.2008 - Gambia leader validates Mugabe's re-election
» 26.06.2008 - Gambia gets "huge" iron ore

China wholesale online through

Houlihan's coupons

Finn autentiske matoppskrifter fra hele verden på
Gazpacho Børek Kartoffelsalat Taboulé Gulasj Albóndigas Cevapi Rougaille Japrak sarma Zwiebelbrot Klopse Giouvetsi Paella Pljeskavica Pica pau Pulpo a la gallega Flammkuchen Langosj Tapenade Chatsjapuri Pasulj Lassi Kartoffelpuffer Tortilla Raznjici Knödel Lentejas Bœuf bourguignon Korianderchutney Brenneslesuppe Proia Sæbsi kavurma Sardinske calamares

Autentiske matoppskrifter fra hele verden finner du på
Réunion Portugal Aserbajdsjan Serbia Tyskland Seychellene Bosnia Spania Libanon Belgia India Kroatia Hellas Italia Ungarn Komorene Georgia Mauritius Østerrike Romania Frankrike

Economy - Development

IMF disburse $3.1 million for Gambia

afrol News, 9 September - Executive board of International Monetary Fund (IMF) has completed the third review of The Gambia's performance under a program supported by a three-year Poverty Reduction and Growth Facility (PRGF) arrangement.

Completion of the review allows for disbursement of SDR 2 million (about US$3.1 million), which would bring total disbursements under the arrangement to SDR 8 million (about US$12.4 million) to The Gambia.

PRGF is IMF's concessional facility for low-income countries. PRGF loans carry an annual interest rate of 0.5 percent and are repayable over 10 years with a 5½-year grace period on principal payments.

IMF's executive board also approved the authorities' request for waivers of nonobservance of four structural performance criteria concerning submission of two special audit reports, making operational of a credit reference bureau, and establishment of a central register of fiscal expenditure commitments.

Arrangement with The Gambia was approved on February 21, 2007 for an amount of SDR 14 million (about US$21.7 million).

Following the Executive Board's discussion, Mr Takatoshi Kato, Deputy Managing Director and Acting Chair, said: "The Gambian authorities are to be commended for maintaining macroeconomic stability in the context of robust growth and moderate inflation. The PRGF-supported economic program has been implemented satisfactorily, despite the recent increases in world food and fuel prices.

"Over the medium term, The Gambia will face the challenge of maintaining strong growth while further reducing poverty and attaining the Millennium Development Goals. To this end, the authorities are committed to promoting fiscal discipline, private sector growth, and investment in infrastructure, education, and health. The authorities are advised to consider steps to improve The Gambia's international competitiveness through measures to improve the business climate, such as alleviating the burden of central and local government taxation on businesses."

He concluded by commending The Gambia saying it has made strong and successful efforts to improve revenues, in particular through improvements in tax administration.

Mr Kato said Gambian authorities recognise need to focus on broadening tax base and making it more buoyant, including by reducing scope of import duty exemptions. "Making further progress in strengthening public financial management will also help to ensure that budget formulation is realistic and in line with priorities in the country's Poverty Reduction Strategy Paper (PRSP)," he said.

- Create an e-mail alert for Gambia news
- Create an e-mail alert for Economy - Development news

    Printable version

On the Afrol News front page now

Rwanda succeeds including citizens in formal financial sector

afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.

Famine warning: "South Sudan is imploding"

afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
Panic in West Africa after Ebola outbreak in Guinea

afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
Ethiopia tightens its already strict anti-gay laws

afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
Ethiopia plans Africa's biggest dam

afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.

front page | news | countries | archive | currencies | news alerts login | about afrol News | contact | advertise | español 

©  afrol News. Reproducing or buying afrol News' articles.

   You can contact us at