It is encouraging to hear that the Gambia continues to make impressive performance in handling its economy despite the global down turn facing the world. According to a press release from the International Monetary Fund (IMF) issued to this paper yesterday, the economy of The Gambia grew by about 6 percent in 2008 whilst economic growth is expected to be weaker in 2009 in the face of a significant fall in receipts from tourism and remittances resulting from the global slowdown. Nonetheless, a strong rebound in agricultural production in 2008 is supporting a recovery in manufacturing and trade-related services this year, and 2009 growth is expected to be about 3 1/2 percent, which is higher than the regional average. Inflation is also expected to remain under control.
What is more gratifying is that the report stated that "The Gambia has continued to make progress under the IMF-supported program but in the face of the global turbulence there should be no room for complacency and all hands must be on deck by both government and the people at large to be steadfast in maintaining that momentum.Finally we would also thank the Central bank of the Gambia for achieving its target for international reserves, following sharp falls at the end of 2008.
