INSUBCONTINENT EXCLUSIVE:
experienced debt distress, unlike some other African countries
misconception that Gambia is the most indebted country in Africa
The Finance Ministry has been diligent in assessing the impact of currency depreciation on public debt.As of December 2023, the depreciation
Ratio Improves as Finance Minister Highlights Economic Progress
In 2017, the new administration inherited significant financial challenges.This included an overdrawn Treasury Main Account totaling 10.8
This unrecorded debt posed a substantial burden on the system.To address these issues, the government took decisive action
InvestmentAdditionally, they tackled unconfirmed debts totaling 2.4 billion dalasi
The minister outlined various infrastructure projects financed through borrowing since 2017.These include the new Bertil Harding Highway,
phase one of The University of The Gambia, and improvements to the Banjul International Airport
Gambia follows an open market regime
This approach allows market forces of supply and demand to determine exchange rates, rather than government control.This policy aligns with
modern economic practices and promotes transparency in financial transactions
