Fankung
As a junior economist, why should the government request an extension of
their heavy debt if indeed the economy is growing? IMF don't give hoot if we
go belly up tomorrow and go begging. They want to indirectly control every
single third world economy hence their reliance on false accounting.
Remember Structural Adjustment Programs and the 'Globalisation and its
discontent'
Go check the Gambia Human development Index and the affordability of basic
commodities by the average Gambians. There lies the truth. Without your
Dollar to your dad, your folks might stare at the ceiling mate. The economy
is growing Not. However, so long the Treasury do as IMF says, no problem, it
doesn't matter who go to bed hungry or how many brothers and sisters are
walking the streets without job. What did IMF said is the reason for the
Growth? Agriculture mainly. As a dooba, raise in the farming heartland, i
know the amount of pressure we are under from our people for subsistence, so
let IMF go hang. Folks can't even do their naming ceremony without help,
they cannot afford school fees without our diaspora help, their harvest is
depleted within 4 months yet their is economic growth. Marvelous.
Suntou

On Tue, Jan 11, 2011 at 3:50 PM, Fankung Fankung Jammeh <
[log in to unmask]> wrote:

>
> Gambia's economy continues to perform well Says IMF, as it completes
> seventh review
>
> <https://mail.google.com/mail/html/compose/static_files/blank_quirks.html#map>
> Africa <http://observer.gm/africa/news> » Gambia<http://observer.gm/africa/gambia/news>
>    Tuesday, January 11, 2011
> The Executive Board of the International Monetary Fund (IMF) has confirmed
> that the Gambia economy continues to perform well under the Extended Credit
> Facility (ECF) with growth set to remain at about 5.5 to 6 percent a year,
> while inflation is kept in check. The authorities have taken measures to
> correct the fiscal slippages of the first half of the year and adjust to a
> reduced resource envelope.
>
> This was disclosed in a news release issued on January 7th, 2010 by the IMF
> Executive Board after completing the seventh review of The Gambia's economic
> performance under a programme supported by the ECF. The Board also approved
> waivers for the non-observance of the end-March 2010 performance criteria on
> the floor on the basic balance and on the floor on the net usable
> international reserves of the Central Bank.
>
> According to the release, the Board's decision enables the immediate
> disbursement of an amount equivalent to SDR 2.3325 million (about US$ 3.56
> million), bringing total disbursement under the ECF to The Gambia to an
> amount equivalent to SDR 22.55 million (about US$ 34.38 million). At the
> conclusion of the Executive Board's discussion on The Gambia, the release
> added, Mr. Murilo Portugal, deputy managing director and acting chair,
> stated: "The Gambian economy has continued to perform well under the
> Extended Credit Facility, with growth set to remain at about 5.5 to 6
> percent a year, while inflation is kept in check. The authorities have taken
> measures to correct the fiscal slippages of the first half of the year and
> adjust to a reduced resource envelope.
>
> "The 2011 budget will be anchored on limiting government’s domestic
> borrowing to ease pressure on inflation, interest rates, and the exchange
> rate and to achieve substantial fiscal savings. To help implement this
> agenda, the authorities intend to stabilise revenue through the introduction
> of a new formula for fuel price adjustments that would allow for greater
> pass-through of movements in import prices. The authorities are also taking
> steps to ensure a smooth introduction of a VAT by January 2013. The budget
> includes allocations for poverty reducing expenditures, which could also
> help garner greater donor support. Key structural reforms will contribute to
> maintaining macroeconomic stability and strong growth. In particular,
> reforms in public financial management will enhance fiscal discipline and
> better control government expenditures. Steps to strengthen bank supervision
> will help to ensure stability in the financial sector."
>
> --
> *
>
> *****************************************************************************
> GOD BLESS SHEIKH PROFESSOR ALHAGIE YAHYA AJJ JAMMEH*
> *(PRESIDENT FOR LIFE.)*
> *
> *
> *GOD BLESS THE GAMBIA*
> *
> *
> *GOD BLESS APRC*
> *
> *
> *DOWN WITH THE FAILED OPPOSITION *
>
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-- 
Surah- Ar-Rum 30-22
"And among His signs is the creation of heavens and the earth, and the
difference of your languages and colours. Verily, in that are indeed signs
for men of sound knowledge." Qu'ran

www.suntoumana.blogspot.com


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