Press Release: The Gambia Ranks Among Top Ten (10) African Countries With The Strongest Import Cover
The Government Spokesperson & Presidential Diaspora Adviser
Press Release Dated: 12th September, 2024
Banjul, The Gambia — Thanks to the Barrow Government’s political will, liberal economic policies, and impactful transformative agenda, the African Export-Import Bank (Afreximbank) ranks The Gambia among the top ten (10) African countries with the strongest import cover.
The Afreximbank’s African Trade Report 2024 cited by the African Business Insider edition of 11th September, 2024, credits this remarkable development to The Gambia’s committed implementation of the African Continental Free Trade Area (AfCFTA), tourist arrivals, enhanced capital inflows, remittances, green-energy, climate adaption and international financing.
The import cover is the benchmark for establishing a nation’s foreign reserve capacity in covering imports for five months without leaning on foreign assistance. Despite limited resources in a challenging global order, The Gambia has demonstrated resilience in covering its imports making it to the top ten African countries.
This timely Afreximbank assessment significantly amplifies The Gambia Government’s consistent implementation of the progressive Recovery-Focused National Development Plan and related reforms for the benefit of all citizens.
Signed
Ebrima G. Sankareh
The Government Spokesperson & Presidential Diaspora Adviser