Although the price of poor governance is difficult to quantify, the toll it takes on a country's progress can be substantial. In The Gambia over the past decade, a property seizure and a coup, among other events, led to major setbacks in overall economic performance and contributed to worsening poverty. But the country has persevered in its reforms and has taken relatively timely steps to address governance issues and win back donor support.
In early July 2002, the International Monetary Fund (IMF) approved a three-year Poverty Reduction and Growth Facility Arrangement for US$ 27 million to help The Gambia make further progress on the economic front and improve its fiscal performance.
Throughout the mid-1980s and early 1990s, The Gambia successfully implemented a wide range of financial and structural reforms. The country turned its economic fortunes around on the strength of its Economic Recovery Program, launched in 1985 and designed to restore financial stability and lay the foundation for sustained economic growth, and its Program for Sustained Development, begun in 1990, to stimulate private sector development.
See full Article.
Posts
