The Gambia: 2008 Article IV Consultation and Third Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, and Request for Waiver of Performance Criteria: Staff Report; Staff Supplement; Public Information Notice and

2008 Article IV Consultation and Third Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, and Request for Waiver of Performance Criteria: Staff Report; Staff Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for The Gambia

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 324

Publication date: October 2008

ISBN: 9781451815627

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Topics covered in this book

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Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , ISCR , CR , bottom , government , PRGF loan , Gambia , exchange rate appreciation , disbursement of SDR , expenditure commitment , debt relief , rising import cost , Monetary base , Balance of payments statistics , Sub-Saharan Africa , West Africa , Africa

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Summary

The Gambia’s 2008 Article IV Consultation and Third Review Under the Poverty Reduction and Growth Facility are discussed. A sharp appreciation of the dalasi in 2007 has mitigated the impact of increases in world food and oil prices. The authorities’ response to the continuing rise in these world prices has been measured; while eliminating sales tax on the rise, they have raised other taxes to compensate for the revenue loss. Petroleum product prices have been adjusted to eliminate an implicit subsidy and bring them in line with import costs.