The Gambia's total public debt rose to 140.3bn GMD (€1.67bn), or $1.99bn, at the end of 2025 from 129.5bn GMD a year earlier, Finance Minister Seedy Keita said in his October 23 budget speech, Foroyaa reported. The debt-to-GDP ratio fell to 72% from 76%, he said, while the IMF put the 2025 ratio at 82.1% in its July country report.
Analysis: Debt increased 8.3% in dalasi terms, by our calculation, even as the government reported a four-percentage-point decline in the debt-to-GDP ratio. Its estimate of 72% is about 10 points below the IMF's July figure of 82.1%. Differences in GDP estimates or the definition of public debt could explain the gap, but no reconciliation has been published. The ratio matters to investors in government debt. Debt service is budgeted at 16.17bn GMD (€192mn) for 2027, about one-third of government-funded spending. Lawmakers approved the bill at second reading on October 26, with a vote expected by October 29.
Source: Foroyaa Newspaper (Serrekunda), Minister of Finance's 2027 Budget Speech to the National Assembly, October 23, 2026, as reported by Foroyaa (October 23, 2026), End-December 2025 and End-December 2024 and 2025 and 2024; International Monetary Fund, IMF Country Report No. 26/175, 2025; Press, Foroyaa (via allAfrica), quoting the Finance Minister's 2027 budget statement, FY2027; Central Bank of The Gambia (CBG), CBG, Official Exchange Rates for Valuation Purposes, October 27, 2026 (daily PDF), October 27, 2026