IS GAMBIA’S 25.1 BILLION DALASI DEBT PAYABLE?

QUESTION OF THE DAY

IS GAMBIA’S 25.1 BILLION DALASI DEBT PAYABLE?

At end March 2015 the domestic debt of the country stood at 19.3 billion dalasis, it increased to 23.2 billion dalasis at end March 2016. Now it has increased to 25.1 billion dalasis. It is incredible that the domestic debt could increase by over 1.9 billion dalasis within a period of five months.

How will the country pay its growing debt in the face of the dwindling of exports which should generate the foreign exchange earning capacity of the country and boost the productive base? Poverty is likely to increase in the face of growing indebtedness. The Gambia is falling deeper in the abyss of being a heavily indebted poor country. The economic super power status claimed by the government is a myth.