Economy

IMF Review Signals Stronger Gambian Economy and Setbacks; Final Agreement Expected in December

Gambiaj.com – (BANJUL, The Gambia) – The Gambia is on a path toward economic growth, driven by productive discussions between the country’s leaders and the International Monetary Fund (IMF) during an 11-day mission that wrapped up in Banjul on October 11. Despite some fiscal challenges, the IMF review team reported progress on The Gambia’s reform agenda under the 36-month Extended Credit Facility (ECF) arrangement.

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Gambian Economist Highlights the Pitfalls of Africa’s Reliance on Diaspora Remittances for Economic Development

Gambiaj.com – (BANJUL, The Gambia) – In recent years, remittances from the African diaspora have been celebrated as a lifeline for the continent’s economic development. However, as Alhagi Mbowe’s recent analysis reveals, the $100 billion annual inflow primarily fuels consumption, not the sustainable growth Africa urgently needs.

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Albayrak Group Begins Bold Transformative Upgrades at Port of Banjul

Gambiaj.com – (BANJUL, The Gambia) – Following a concession agreement signed in July, Türkiye’s Albayrak Group has accelerated efforts to revamp The Gambia’s port infrastructure, starting with the Port of Banjul and extending to inland terminals in Basse and Kaur. The ambitious project encompasses full financing, maintenance, and operational duties for the Port of Banjul and promises a major boost to Gambia’s trade potential with plans underway for a deep-sea port in Sanyang.

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New ECOWAS Regional Competition Authority Take Charge as Ghana’s Dr. Twumasi-Anokye Elected Chairperson

Gambiaj.com – (Banjul, The Gambia) – The ten newly appointed members of the Board of the ECOWAS Regional Competition Authority (ERCA) officially assumed their roles this week in Banjul, The Gambia. Following their swearing-in ceremony, the Board members participated in a comprehensive orientation session, introducing them to the ERCA’s mission, legal framework, and strategic objectives.

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