The IMF said the agreement on the fifth review of the 36-month Extended Credit Facility programme, approved in January 2024, covered total access of $102.2 million. The package also includes a six-month extension to July 2027, along with an increase in access of $17.0 million to help address challenges linked to the war in the Middle East. Approval remains contingent on agreed prior actions and approval by the IMF Executive Board.
An Executive Board approval would allow a disbursement of $8.5 million, taking the total disbursement under the programme to $76.6 million.
The IMF also reached a staff-level agreement on the second review under the 18-month Resilience and Sustainability Facility arrangement, approved in June 2025, with total access of $63.9 million. An Executive Board approval would release $14.2 million, lifting total disbursement under the facility to $35.5 million. The arrangement also carries a six-month extension to July 2027 to allow more time for reform measures. The IMF Executive Board is tentatively scheduled to meet in early July 2026.
Mission Head Eva Jenkner said economic recovery remained strong while inflation decelerated. Real gross domestic product (GDP) growth reached an estimated 6.0% in 2025, supported by agriculture and construction.
Tourist arrivals and remittance inflows remained robust. Headline inflation fell to 7.0% in April 2026 from a peak of 18.5% in September 2023, helped by lower global food and energy prices over most of the period.
Jenkner said higher commodity prices linked to the ongoing war in the Middle East had started to affect inflation and were expected to weigh on the macroeconomic outlook and raise domestic risks in 2026 and beyond.
Fiscal performance in 2025 was weaker than anticipated. Tax revenue overperformed, but spending exceeded targets because of unbudgeted transfers, arrears payments, emergency subsidies for the National Water and Electricity Company Limited, and emergency support to the National Food Security Processing and Marketing Corporation. The fiscal deficit reached 5% of GDP, while public debt stood at about 79% of GDP.
The mission met Minister of Finance and Economic Affairs Seedy Keita, Central Bank of The Gambia Governor Buah Saidy, other public officials, private sector representatives, civil society representatives and development partners.
–IMF/ChannelAfrica–
