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                                                                                                            Buharry.
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What Is Gambia's External Debt?


        
      


      
       
     
The Point (Banjul)

September 18, 2000 

Banjul 

Sidia Jatta, member for Wuli constituency, has asked if Famara Jatta, the secretary of state for Finance and Economic Affairs, was aware of conflicting reports on the total debt of the country, which was put at $420.8m as at the end of October 1999.

Hon. Jatta raised the question during the "questions and answers" session of the National Assembly over the weekend.

Sidia had earlier on argued that debt and loans had never and would never develop a country. "Cancelling debts while taking others will take us nowhere, and we will be fooling ourselves," he maintained.

The Wuli MP further asked about the outcome of the study of the impact of the BIVAC arrangement on the economy, especially the private sector participation.

Secretary Jatta, responding, said "the total debt of the Gambia as of end October 1999 stood at about US$420.8m. The Hon. member is further informed that due to the dynamics of loan administration, disbursement of donor funds etc, it is normal for debt stock balance to differ between institutions.

"Reconciliation based on a common cut-off date however ensures agreements of such balances."

On the outcome of the study conducted on the impact of BIVAC, the finance secretary of state said preliminary report had shown both positive and negative impact on the economy.

"I am happy to report to the august assembly that BIVAC operation have been considerably reduced by my department of state to focus on the areas where there have been positive impact," he added.

Dembo Bojang, the member for Bakau wanted an explanation from the Justice secretary as to why some public servants who appeared before the commission of enquiry and vindicated had still had their assets and bank accounts defrozen.

Pap Cheyassin Secka, the Secretary of State for Justice, in reply disclosed that the Attorney General's Chambers and his department had commissioned a comprehensive study of the matter with a view to approaching the issue on a holistic rather than a piece-meal basis. He added that the government would be advised accordingly.


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