Gambia: CBG Governor Links Dalasi Depreciation to Structural Economic Factors

17 March 2026
The Point (Banjul)
By Ismaila Sonko

The Central Bank of The Gambia (CBG) Governor, Mr. Buah Saidy, has attributed the dalasi's depreciation against the CFA franc and other currencies to broader macroeconomic and structural economic factors rather than a single transaction channel.

Mr. Saidy made the remarks during the National Economic Council (NEC) meeting, which reviewed the state of the economy and progress on policies aimed at improving accountability, efficiency and effectiveness across government sectors.

Presenting an overview of the country's economic outlook, the governor reported that the Gambian economy continues to maintain steady growth despite global geopolitical tensions and trade disruptions.

He explained that real Gross Domestic Product (GDP) growth has consistently exceeded 5 percent since 2021 and is projected to remain stable through 2025 and 2026. "The growth is attributed to strong public and private consumption and investment, as well as performance in sectors such as financial services, telecommunications, tourism and agriculture," he added.

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According to him, inflation stood at 6.4 percent in January 2026, reflecting a decline compared to previous periods, with food prices also showing signs of easing.

Governor Saidy mentioned improvements in the country's external position. The current account deficit narrowed to 3.2 percent of GDP in 2025 from 4.4 percent in 2024, supported by growth in the services sector, tourism activity, budget support and increased domestic income.

"Private remittance inflows increased by 12.5 percent in 2025, reaching more than 872 million US dollars," he said.

However, he said international reserves rose to cover about 4.4 months of projected imports as of February 2026, while liquidity in the domestic foreign exchange market helped maintain relative stability of the Dalasi.

He further indicated that domestic debt increased in 2025, with debt servicing costs continuing to rise.

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