Senegal’s dollar bonds are experiencing a decline after the IMF warned of fiscal deterioration. The yield on Senegal’s 2048 bonds increased due to concerns about the country’s rising fiscal deficit, which has been aggravated by reduced revenues and rising energy subsidies. The IMF’s report urged Senegal to implement reforms to[Read More…]
Tag: Economy
Ministry of Trade, Others Set To Support Local Farmers
Amid rising inflation, Gambia’s Trade Minister, Baboucarr O. Joof annonced that his ministry will be teaming up with some public institutions to support local farmers with the view to boosting food production. He made this revelation during a presser held Monday at the ministry of trade’s conference hall in Banjul.[Read More…]
Gambia Scales Up Efforts To Contain Rising Food Prices
As the Holy Month of Ramadan is fast approaching, Gambia’s Minister of Trade, Regional Integration and Employment (MOTIE), Baboucarr O. Joof, announced Friday a series of measures being put up by government to contain rising food prices.l Speakers to reporters during a presser held on the Ministry grounds in Banjul,[Read More…]
OIC Banjul Summit Postponed To May 2024
The Chief Executive Officer of the OIC Secretariat, Yankuba Dibba, announced on Friday that the date of the Islamic Summit has been moved forward as the country is bracing up for the 2024 Organisation of Islamic Cooperation Conference. Speaking to journalists during a press conference held at Sir Dawda Kairaba[Read More…]
IMF & Gambia Agree New $100M Support Package
The International Monetary Fund and Gambian authorities have reached a staff-level agreement on a new three-year support package of around $100 million, the Fund said in a statement on Wednesday. The program will support agreed economic policies and reforms. It aims to tackle inflation and foreign exchange pressures, reduce debt[Read More…]
NAWEC Boss Allays Fears Over Prepaid Meter Upgrade
NAWEC Managing Director, Nani Juwara, has clearly stated that the prepaid meter upgrade will not cause any fluctuation in power bills, adding that there is no need for concerns. “There is no way for activity of this nature to create additional costs for customers,” he told reporters Tuesday during a[Read More…]
Demba Jallow: “Efforts Are Ongoing For Cheaper Power Production Costs”
The Gambia River Basin Development Organization (OMVG) Director of Environment and Sustainable Development, Demba Jallow, said there are efforts being spearheaded by member States to slash power production costs with the view to easing the burden on consumers. “Efforts are ongoing for cheaper power production as gas power plant construction[Read More…]
Campaigner Okays A Possible Shutdown Of Fishmeal Factories
As the fishmeal industry continues to spark controversy, environmental campaigner Dawda F. Saine has okayed a possible shutdown of an industry that has ‘devastating impacts’ on people’s livelihoods. “On the basis of the scientific research, that was conducted under the Framework Cooperation Agreement between FAO and SICA (the Central American[Read More…]
AfDB Grants $7M To Improve Governance & Fiscal Resilience In Gambia
The Board of Directors of the African Development Bank Group, on Tuesday 3 October, meeting in Abidjan, approved a grant of $6.72 million to The Gambia to support implementation of the first phase of the Public Financial Management and Economic Reform Programme. The Bank’s financial support comes under Pillar 1[Read More…]
TotalEnergies Embarks On Safety Recall In Senegal
The French oil giant TotalEnergies has embarked on massive safety recall targeting one their gas cylinders widely dispatched in neighbouring Senegal. In a news dispatch released on September 2nd, TotalEnergies made the 6 kg cylinder (B6 and the 9 kg cylinder (B9) are the only ones involved in the safety[Read More…]
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