By Lamin Kujabi
His Excellency President Adama Barrow recently received a delegation from the International Monetary Fund (IMF) headed by Mr. Ivohasina Fizara Razafimaheta, IMF Mission chief.
After their meeting with the president, Mr. Ivohasina Fizara Razafimaheta told journalists that he was honored and pleased to be received by President Barrow. He explained that he briefed the president on IMF-supported Projects under the Extended Credit Facilities arrangements. He added that they discussed the economic developments in the first six months of the year and the Government’s policy direction for the next six to twelve months.
He stated that economic activity in the country is gradually recovering citing the increasing number of tourists arriving in The Gambia and the on going infrastructural development. “We expect high agricultural productivity this year, thanks to the good rainfall even though the country experienced flash floods recently,’’ he acknowledged.
On inflation, Mr. Razarfiaheta said inflation and price hikes in The Gambia is driven by external factors like the war in Ukraine, which is affecting global fuel and food prices. “ Inflation happening in many countries around the world, not only in The Gambia”, He noted.
“The world is in difficult times and we will continue to work with government to address inflation to help contain the food prices ’’ he stated.
He highlighted that from their analysis, The Gambia’s economy has started to recover from the impact of the Covid 19 pandemic,.
While acknowledging the Government’s efforts to relieve the hardship that high prices of commodities are inflicting on the population, the IMF Mission Chief said they advised Government to set up efforts to contain the increasing inflation and the foreign exchange rates in the country.
He promised that the IMF will work with government to address the challenges that are affecting the lives of the population.
He also revealed that the government is determined to reduce tax collection on fuel as a means to reduce the impact of the global fuel prices.
The delegation was accompanied to state house by the Minister of Finance and Economic Affairs, Seedy Keita and his Permanent Secretary.
