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This paper discusses key findings of the First Review Under the Poverty Reduction and Growth Facility (PRGF). Overall performance under the program has been strong. All but one of the quantitative performance criteria and indicative targets were met. Fiscal performance has been impressive, reflecting higher-than-projected revenues and strengthened expenditure control. However, two structural performance criteria were not observed. The medium-term macroeconomic framework underlying the program has been modified slightly. Maintaining fiscal discipline remains key to lowering domestic public debt and protecting poverty-reducing expenditures.

Gambia -- Economic conditions. --- Gambia -- Economic policy. --- International Monetary Fund -- Gambia. --- Poverty -- Gambia. --- Foreign Exchange --- Macroeconomics --- Money and Monetary Policy --- Public Finance --- Statistics --- National Government Expenditures and Related Policies: General --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Current Account Adjustment --- Short-term Capital Movements --- International Lending and Debt Problems --- Public finance & taxation --- Monetary economics --- Econometrics & economic statistics --- Currency --- Foreign exchange --- International economics --- Monetary base --- Expenditure --- Balance of payments statistics --- Arrears --- Economic and financial statistics --- Money --- External debt --- Money supply --- Expenditures, Public --- Balance of payments --- Debts, External --- Gambia, The

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This Selected Issues paper assesses The Gambia’s external competitiveness by reviewing developments in several indicators, ranging from exchange rate-based indices to survey-based assessments of the investment climate. The paper reviews the evolution of several multilateral and bilateral real exchange rate indices for The Gambia, and summarizes the results of a regression analysis that tests for misalignment of the exchange rate. The paper also evaluates the degree of autonomy extended to the Central Bank of The Gambia (CBG) under the provisions of the new Central Bank of The Gambia Act, 2005.

Gambia -- Economic conditions. --- Gambia -- Economic policy. --- International monetary fund -- Gambia. --- Banks and Banking --- Exports and Imports --- Foreign Exchange --- Macroeconomics --- Industries: Financial Services --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Personal Income, Wealth, and Their Distributions --- Price Level --- Inflation --- Deflation --- Development Planning and Policy: Trade Policy --- Factor Movement --- Foreign Exchange Policy --- Currency --- Foreign exchange --- Banking --- International economics --- Finance --- Real exchange rates --- Real effective exchange rates --- Exchange rate indexes --- Personal income --- National accounts --- Price stabilization --- Prices --- Banks and banking --- Income --- Government policy --- Loans --- Gambia, The --- Gambia --- Economic conditions. --- Economic policy.

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This paper discusses key findings of the Fifth Review under the Poverty Reduction and Growth Facility (PRGF) for The Gambia. The Gambia’s external debt position has worsened recently. The global economic crisis is undermining growth and the external balance. Performance on the PRGF-supported program has been generally satisfactory. All quantitative performance criteria for end-March 2009 were met, and the structural measures scheduled through March were implemented. IMF staff supports the authorities’ request for a waiver for the nonobservance of the performance criterion for making the credit reference bureau operational.

Debts, Public -- Gambia. --- Economic development -- Gambia. --- Financial crises -- Gambia. --- Fiscal policy -- Gambia. --- Foreign exchange rates -- Gambia. --- Gambia -- Economic conditions -- 1965- . --- Gambia -- Economic policy. --- Global Financial Crisis, 2008-2009. --- International Monetary Fund -- Gambia. --- Monetary policy -- Gambia. --- Poverty -- Gambia. --- Risk -- Gambia. --- Banks and Banking --- Financial Risk Management --- Macroeconomics --- Public Finance --- Statistics --- Debt --- Debt Management --- Sovereign Debt --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Current Account Adjustment --- Short-term Capital Movements --- National Government Expenditures and Related Policies: General --- Monetary Policy --- General Aggregative Models: General --- Banking --- Public finance & taxation --- Econometrics & economic statistics --- Finance --- Balance of payments statistics --- Expenditure --- International reserves --- National accounts --- Economic and financial statistics --- Central banks --- Public debt --- National income --- Balance of payments --- Banks and banking --- Expenditures, Public --- Foreign exchange reserves --- Debts, Public --- Gambia, The