Gambia has been successful in maintaining macroeconomic stability and sustaining high growth, the International Monetary Fund (IMF) said in a statement released on its website Tuesday.
The statement was issued following an IMF staff mission's visit to the country from May 11-25 to evaluate policies and review growth.
"Since... 2006, the authorities' policy strategy has been successful in maintaining macroeconomic stability and sustaining high growth. Fiscal performance has been good, and monetary policy has been geared to maintaining low inflation," the statement said.
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, it added.
A relatively tight monetary policy stance and appreciation of the dalasi have helped contain the impact of rising world food andoil prices on inflation in the Gambia, it said.
The mission recommended that the authorities avoid generalized subsidies, which tend to be ineffective and have created budgetary problems in neighboring countries.
It also urged the speedy preparation of a national debt strategy to avoid falling back into debt distress.
Source: Xinhua
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