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In a press released after the Monetary Policy Committee meeting of the Central Bank of The Gambia, governor Bakary K. Jammeh stated that the liquidity ratio of the banking industry stood at 93.5% as at end-June 2020, also higher than the requirement of 30%. He said Non-performing loans ratio was 4.5% in June 2020. He confirmed that the banking sector remains fundamentally sound with a high level of capital and liquidity. “Year-on-year, total assets of the industry expanded by 7.0% to D51.8 billion as at end-June 2020. The risk-weighted capital adequacy ratio stood at 35.7% as at end-June 2020, higher than the statutory requirement of 10%. All the banks are above the minimum capital requirement.” Governor Jammeh continued to reveal that the non-bank financial sector continues to play an important role in extending financial services to the low-income population. As at end-June 2020, he added that total assets of the three finance companies expanded by 4.0% to D1.6 billion compa...

During the monetary policy committee meeting of the central bank, the committee indicated that government expenditure and net lending for the first six months of 2020 increased by 11 percent to D10.8 billion (11.0 percent of GDP) from D9.7 billion (11.1 percent of GDP) in the first half of 2019. In a statement read by the governor of the central bank of The Gambia, Bakary K. Jammeh further stated that recurrent expenditure increased by 31.2 percent to D8.0 billion (8.1 percent of GDP) compared to D6.1 billion (7.0 percent of GDP) in the first half of 2019, while adding that capital expenditure on the other hand, declined by 22.9 percent to D2.8 billion (2.9 percent of GDP). The statement further reads that, “Preliminary estimates of government fiscal operations indicated that overall deficit, including grants worsened from D0.6 billion (0.7 percent of GDP) in the first half of 2019 to a deficit of D1.6 billion (0.4 percent of GDP) in the first half of 2020. The budget deficit excl...

The party leader of Gambia Moral Congress (GMC) and the former presidential adviser Mai Ahmed Fatty in a statement clarified that the Coalition 2016 was all about removing Yahya Jammeh and not about parliamentary elections. Mai, who wrote to his Facebook page, explained that there was no provision in any of the Coalition 2016 documentation or processes that conditioned the conduct of parliamentary elections as a single unit. The former interior minister revealed that Hon Halifa Sallah and Mrs Aji Yam Secka brought the issue of coalition 2016 and Tactical Alliance to the fore. “The idea of contesting parliamentary elections as a Coalition was discussed for the first time at a meeting presided over by then President-elect Barrow at Kairaba Hotel. The Coalition Executive debated exhaustively but remained divided. Two contentions were debated: going as a Coalition would weaken political parties, and two, going as a Coalition is consistent with the coalition spirit.” The politicia...

The former political adviser to President Adama Barrow Mai Ahmad Fatty has recently condemned the destroying and burning of yellow facemasks, which was purportedly United Democratic Party (UDP) donated, while demanded the arrest and prosecution of allege individuals. “I watched a very disturbing viral video of a group of misguided youths destroying and burning yellow face masks. I am appalled at the lowest pit at which partisan political fanaticism has descended to. I condemn this irresponsible behavior and expect all decent persons to be outraged. Good deeds knows no colour,” the politician stated. The leader of the Gambia Moral Congress (GMC) party said the marks are life saving gifts meant for desperate communities in-need, while adding that in terms of their utility, it matters not who donated them. He said what matters most at this volatile time is that they could save lives. “Even if the donation was intended to procure political profit for the donor, the prospect of saving...

The former National Water and Electricity Company (NAWEC) managing director Alpha Robinson has declined the executive decision to redeploy him to the Ministry of Foreign Affairs, International cooperation and Gambians Abroad, for subsequent deployment to the Foreign service. In a statement addressed to the Personal Management Office (PMO) dated 10th August 2020, Mr. Robinson thanked President Adama Barrow for giving him the opportunity to serve his country for one year nine days, as Managing Director of NAWEC. The statement continued saying “I came to The Gambia on 28th June 2019 to serve as Managing Director of NAWEC with effect from 1st July 2019, driven solely by the desire to play a role in the irreversible transformation of NAWEC to continually improve its service delivery and contribute more effectively to the socio-economic development of The Gambia.” The Ex MD also thanked the Executive for the kind offer to deploy him to the foreign service. However, he added t...