IS THE DOMESTIC DEBT SUSTAINABLE?

QUESTION OF THE DAY

IS THE DOMESTIC DEBT SUSTAINABLE?

The Domestic debt of the Gambia has increased from 11.3 Billion Dalasis in 2013 to 20.7 Billion Dalasis in 2015.

This means that in just two years the domestic debt has almost doubled. This is unsustainable. Austerity is the ultimate consequence of such debts. Cost recovery in public services, increased taxation and low wages would be the means to address the debt burden.