Simon Ateba is Chief White House Correspondent for Today News Africa. Simon covers the U.S. government, the International Monetary Fund, the World Bank and other financial and international institutions in Washington D.C. He can be reached on [email protected]
The International Monetary Fund on Thursday approved the disbursement of $14.4 million loan money to The Gambia.
The approval came after the IMF Executive Board concluded its second review under the extended credit facility (ECF) arrangement with The Gambia.
The disbursement brings total disbursements under the ECF arrangement to about $50.5 million to The Gambia.
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IMF said The Gambia continues to require assistance due to the coronavirus economic fallout.
Date Time
IMF Executive Board Concludes 2021 Article IV Consultation with Botswana
Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Botswana.
Botswana entered the COVID-19 crisis with larger buffers than most countries but was already contending with structural challenges. The pandemic caused a 7.9 percent contraction in GDP, due to heavy reliance on diamonds and contact-intensive services, while the unemployment rate reached 24.5 percent in the last quarter of 2020-the highest in the last three and half decades. The authorities have taken decisive measures to limit the health and economic fallout of the pandemic. While the fiscal relief package has focused on supporting firms and vulnerable households to cope with the shock, the monetary stance has been eased to maintain adequate liquidity in the banking system.
Banjul, Gambia (PANA) - The Executive Board of the International Monetary Fund (IMF) on Thursday completed the second review under the Extended Credit Facility (ECF) arrangement with The Gambia allowing an immediate disbursement o