NEWS JAMMEH'S CONFESSION LETTER TO THE IMF MD, AS HE DESCRIBES THE CENTRAL BANK MISSING "MILLIONS" AS WARRISOME DEVELOPMENTS BY OUR SPECIAL CORRESPONDENT -------------------------------------------------------------------------------- October 25, 2005 "To address the worrisome developments at the Central Bank of The Gambia and in recognition of the importance of completing the audit of the bank expeditiously, I gave strict instructions for the audit to be concluded"said President Jammeh in a letter addressed to the Managing Director of the International Monetary Fund IMF's Horst kohler. The letter which was dated on October 28, 2003 went further to add"The audited financial statements of the Central Bank of The Gambia for 2001 and 2002 have now been signed." ALLGAMBIAN online Newspaper news researcher and investigative journalist said he was able to lay his hands on correspondence letters exchanged between Jammeh, Musa Balla Gaye, Famara Jatta and the IMF main office officials in Washington DC, the Nation's capital. The said letters, will be published by The ALLGAMBIAN in due course. Continuing his letter of plea to the IMF's amidst reports of IMF possible sanctions against the Ruling APRC government, Jammeh went further to assure the IMF managing Director that no stone will be left unturned to account for the missing millions at the Central Bank of The Gambia. "I have instructed that copies be sent to the IMF immediately. This should facilitate the completion of the IMF safeguard assessment."Jammeh assured the IMF He went on to add"I have received full assurances that all unprogrammed expenditures have now been fully and correctly recorded in the accounting records of the CBG. Mr.Horst Koshler, Managing Director International Monetary Fund, 700, 19Th. Street, NW Washington, DC 200431 USA, I acknowledge that there have been lessons to learn as the Government has tried to fulfil the main priorities of its economic programmes."Jammeh intimated. It would be recalled that most the APRC white elephant projects initiated shortly after the infamous July 22ND military takeover were reportedly taken from the state's foreign reserves, and gifts given to the then junta by President Gadaffi and the Taiwanese government. However such unauthorised or unprogrammed expenditures as Jammeh called them in this letter had cost The Gambia dearly. IMF in a letter to the regime protested about the lack of accountability and judicious management of state resources. The firm also blamed the government for being economical with facts and figures relating to central banks financial issues among others. Most of the data forwarded to the IMF by Yahya's government were said to be misleading and inaccurate. This misinformation on the side of the Central Bank and Finance Ministry officials angered the IMF, which threatened to suspend its cooperation with the Jammeh administration. In an attempt to avert IMF's possible sanctions against his government, embarked on image building by assuring the world leading financial institution that such a financial mess perpetrated in The Gambia will be addressed once and for all. While Jammeh sounded determined to tackle the Central Bank in accurate data, on the other hand he also bombarded the IMF with some reasons to justify the missing millions." "A significant proportion of the unprogrammed expenditure was for infrastructural and social programmes. In fact, a majority of and vital road project was abandoned on the insistence of the IMF mission, as funding was not completely available."Jammeh said in his letter to the IMF MD. To be continued............ NB:We want to assure our readers that this piece we started publishing today, is just the tip of the ice berg, as there are more damning revelations, which might compel Gambians to take to the streets and demand Jammeh's steeping down from power. To our critics or Jammeh's sycophants, please be warned that this is one of the most damning corruption report with concrete evidence including letters that were signed by Jammeh himself and his Ministers. Go To Top -------------------------------------------------------------------------------- Copyright © 2004 AllGambian.Net. All Rights Reserved. -------------------------------------------------------------------------------- ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ To unsubscribe/subscribe or view archives of postings, go to the Gambia-L Web interface at: http://maelstrom.stjohns.edu/archives/gambia-l.html To Search in the Gambia-L archives, go to: http://maelstrom.stjohns.edu/CGI/wa.exe?S1=gambia-l To contact the List Management, please send an e-mail to: [log in to unmask] ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤