ANNOUNCEMENT 04 May 2015

In May 2015, the government of Gambia announced a change in the private sector requirements to balance imports and exports.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising
Inception date: 04 May 2015 | Removal date: open ended
Still in force

Controls on commercial transactions and investment instruments

 On 4 May 2015, the Gambian president announced in a press release an introduction of restrictions for foreign currency exports. Exports of foreign currency worth more than 10'000 USD shall only be allowed upon approval from the president's office.
The president argued these steps were necessary considering the strong depreciation of the Gambian Dalasi.
This step may make it harder for exporters to Gambia to repatriate their sales revenues in that country. Likewise, for the profits of the foreign subsidiaries operating there.
As the press release is not available on the official website, it remains unclear when this restriction was de facto introduced. Instead, the announcement in the press release shall be considered as the inception date.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
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