Concerns over the fate of withdrawn Gambian banknotes continue to grow in several quarters. It’s the best operational practice in central banks across the world to withdraw mutilated and worn-out currency banknotes from circulation. The quality of the dalasi notes has rendered them susceptible to mutilation and wear and tear.[Read More…]
Tag: Economy
Jah Oil Increases Cement Price
Jah Oil has increased the price of a bag of cement from D355 to D390. “This decision was made reluctantly due to significant and unavoidable increases in global market prices for cement and clinker, compounded by the depreciation of the Dalasi against the US Dollar,” the company said in a[Read More…]
Taf Says Sand Mining In South Coast Compromises Gambia’s Tourism Assets
Gambia’s housing development giant Mustapha Njie is dismayed by the ongoing environmental destruction in the southern coast of the country thanks to sand mining, hinting that the sand mining in Sanyang for the purpose of export and mining in other parts of Kombo South could hugely erode the district’s tourism[Read More…]
Landmark Cement Tariff Case Against Gambia Gov’t Resumes May 8
The unprecedented tariff lawsuit that local cement importers instituted against the Gambia government will resume on 8th May at the Banjul High Court Annex. The Cement Importers Alliance of The Gambia dragged the Government to court in March of this year after its many requests to the Gambian authorities to[Read More…]
Gambia Will Get New Ferry In 2025 – Reveals Ports MD
The Managing Director of the Gambia Ports Authority (GPA), Ousman Jobarteh, Wednesday provided updates on the government’s maritime infrastructure development plans at a press conference hosted by the Ministry of Information. Jobarteh announced that the Gambian government has made a 20% down payment on one of two new ferries it[Read More…]
Momodou Sabally Expresses Confidence In Gambia’s Economy
Momodou Sabally, Special Adviser to Gambian President Adama Barrow, recently shared positive insights on the Gambia’s economic growth and stability. In an interview on Coffee Time With Peter Gomez, Sabally highlighted Gambia’s GDP growth and the decline in inflation, noting that these factors place the country among the top 20[Read More…]
Int’l Monetary Fund Staff Concludes Visit to The Gambia
The International Monetary Fund (IMF) team, led by Ms. Eva Jenkner, held discussions with Gambian authorities in Banjul from September 30 to October 11, 2024, as part of the second review of the Gambia’s program supported by a 36-month Extended Credit Facility (ECF). The ECF arrangement, approved in January 2024,[Read More…]
Senegal Pledges Swift Action On Budget Gap After Ratings Cut
Senegal said it will act swiftly to lower its budget deficit after an audit showing a weaker fiscal and debt position prompted Moody’s Ratings to downgrade the West African nation. The company lowered Senegal’s long-term rating to B1 from Ba3 late on Friday after an audit launched by newly elected[Read More…]
Senegal PM Vows ‘Corruption’ Probe Into Former Government
Senegal’s Prime Minister Ousmane Sonko on Thursday, September 26 vowed investigations into what he termed “widespread corruption” under the previous administration, accusing it of having fiddled its financial figures. “The policy of unbridled indebtedness (under former president Macky Sall) has led to the use of resources that is not transparent[Read More…]
Gambia’s Debt Increased To D110 Billion
Finance Minister Seedy Keita updated Gambian lawmakers on the nation’s rising debt, which increased from D46 billion in early 2017 to D110 billion by December 2023. The rise was partly driven by the depreciation of the Gambian dalasi, which added D7.56 billion to the foreign currency debt. The Minister highlighted[Read More…]
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