Darboe Raises Concerns Over Gambia’s Rising Debt and Economic Management
Mr. Darboe alerts about The Gambia’s D100 billion debt, criticizing the allocation of 11 billion dalasis towards debt services. He suggests investing in agriculture would be more beneficial. He calls for transparency regarding undisclosed loans and audits, while also opposing the Gambia Ports Authority agreement that favors foreign control.
Mr. Darboe recently expressed concern regarding The Gambia’s substantial debt, which exceeds 100 billion dalasis. He highlighted that the government allocates 11 billion dalasis annually toward debt services, suggesting that investing these funds in agriculture would significantly benefit the national economy and social welfare.
He raised suspicions about undisclosed loans and asserted that a comprehensive audit of government activities could reveal further financial discrepancies that have not been shared with the populace. He emphasized the importance of transparency in the budget statements, noting that undisclosed billions could adversely affect the economy.
Moreover, he criticized the current government’s approach to debt management, advocating instead for a focus on resolving existing debts rather than further borrowing. He articulated discontent over the Gambia Ports Authority’s contract with foreign companies, asserting that the terms are unfavorable by allowing foreign entities to retain 80% of the profits while the national benefit remains limited to 20%.
In summary, Mr. Darboe has raised serious concerns about The Gambia’s growing debt and its impact on the nation’s finances. He advocates for increased investment in agriculture and calls for transparency regarding loans and government financial practices. Mr. Darboe also disapproves of the unfavorable foreign management of the Gambia Ports Authority, urging a reevaluation of such agreements to bolster national interests.
Original Source: thepoint.gm
