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Gambia News : IMF applauds Gambia's growth, urges debt strategy
The International Monetary
Fund praised Gambia's economic development on Tuesday but urged
the country to speed up preparation of a national debt strategy
to help it avoid falling back into debt distress. "Real GDP growth has been strong at over 6 percent a year,
a performance that compares favorably with the record of other
countries in the region," the IMF said in a statement following
its meetings with officials from the small West African
country.
"A relatively tight monetary policy stance and appreciation
of the dalasi have helped contain the impact of rising world
food and oil prices on inflation," the IMF noted.
The Fund said it welcomed the government's intention to use
savings from debt relief for poverty-reduction efforts and to
pay down down, but said the country had been slower than
expected in implementing some structural reforms.
In March, the IMF and World Bank said Gambia had met
requirements to qualify for full debt relief, although it was
still at high risk of debt distress.
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