The Gambia: Fourth Review Under the Extended Credit Facility Arrangement, Requests for a Waiver of Nonobservance of a Performance Criterion, Modifications of Performance Criteria and Indicative Targets, and Financing Assurances Review; First Review Un

Economic momentum remains strong despite continued global uncertainty and inflation is largely receding. Fiscal performance during the first half of 2025 exceeded expectations and strong tax revenue collection is expected to continue through the end of the year. The foreign exchange market continues to function smoothly, and foreign reserves remain at a comfortable level. Structural reforms are advancing at a higher pace. The economic outlook is subject to large downside risks owing to global geopolitical tensions and uncertainty. Exposure to climate risks is significant, primarily through The Gambia’s low elevation and reliance on rain-fed agriculture.