Hey Demba, I am surprised u did not mention your good friend, whom, you promised to defend all the time. I think he is best independent analyst out there; our own resident googler, Ansu Koroma. I'm sure it will not take him a minute to google all papers on currency overvaluations and devaluations. Plus, he was part of Jammeh's inner circle that helped create such problems. I am sure he can help untangle the mess. I am posting this to the Post for his benefit. and On Mon, Feb 20, 2012 at 3:07 PM, Demba Baldeh <[log in to unmask]> wrote: > Suntou, I think we need an independent analyst... Omar has been too > indoctrinated!!! > > Any takers out there??? Burama Jammeh... Laye would be a good one too - > finance???? > > Thanks > > Demba > > > > On Mon, Feb 20, 2012 at 11:14 AM, Bolonba <[log in to unmask]> wrote: > >> Demba, don't worry our junior economist is at hand to decipher the >> details. Sinyo kuu buka sinyo karr. Suntou >> >> Sent from my iPhone >> >> On 20 Feb 2012, at 18:54, Demba Baldeh <[log in to unmask]> wrote: >> >> Laye, >> >> Hmmmmmm!!! this is an interesting position from the IMF and it should be >> worrisome for our little Gambia... I wonder what happened to the good >> economic growth forecast that was recently louded by the World financial >> body? It is certainly starting to trickle bit by bit that all factors use >> to assess the economic health of a nation were not used.. >> >> We need an economist to explain the ramifications of this possible >> devaluation... Any recommendations who we can talk to out there? >> >> Thanks >> >> Demba >> >> On Mon, Feb 20, 2012 at 7:05 AM, Laye Jallow <[log in to unmask]> wrote: >> >>> IMF: Gambian currency may be overvalued >>> >>> http://www.africanews.com/site/IMF_Gambian_currency_may_be_overvalued/list_messages/41132 >>> >>> Posted on Monday 20 February 2012 - 10:28<http://www.africanews.com/site/list_message/37237#m37237> >>> Madi Njie, AfricaNews reporter in Serekunda, Gambia >>> *The International Monetary Fund has indicates that the local currency, >>> the Gambian Dalasi, may be overvalued by 17 percent. According to IMF >>> report, "a number of complementary approaches were adopted to assess >>> whether the Gambia's exchange rate is aligned with fundamentals.* >>> >>> These alternative approaches proposed by the IMF Consultative Group on >>> Exchange Rate issues include the macroeconomic balance approach, the >>> external sustainability approach and equilibrium real exchange rate >>> approach.” >>> >>> According to the report, the purchasing power parity approach was also >>> involved in the assessment, pointing out that these alternative approaches >>> produce somewhat different results. >>> >>> “The macroeconomic balance approach suggests that the Dalasi may be >>> overvalued by 17 percent. The country’s underlying current account deficit >>> is 12 Percent of Gross Domestic Product (GDP). The underlying fundamental >>> driving this result is the large fiscal deficits in recent years. >>> >>> Temporary factors such as Government’s financial external payments for a >>> large telecommunications project also played a role. With an estimated >>> current account norm of about 2 percent, roughly in line with estimates in >>> past assessments, a depreciation of 17 per cent would be needed to restore >>> sustainability.” >>> >>> The report outlined that the external sustainability approach indicates >>> an overvaluation of 8½ percent. >>> >>> The report published by Gambia local newspaper- Foroyaa, adds, “With an >>> underlying current account balance of 12 Percent of GDP, The Gambia’s long >>> run net foreign assets would be unsustainable at about -138 percent of GDP >>> in order to bring the NFA to a sustainable level of -70 percent of GDP, >>> that the exchange rate would require a depreciation of 8 ½ percent with a >>> corresponding current account deficit of 6 ½ percent of GDP”, the report >>> states. >>> >>> >>> -- >>> -Laye >>> ============================== >>> "With fair speech thou might have thy will, >>> With it thou might thy self spoil." >>> --The R.M >>> ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ To >>> unsubscribe/subscribe or view archives of postings, go to the Gambia-L Web >>> interface at: http://listserv.icors.org/archives/gambia-l.html >>> >>> To Search in the Gambia-L archives, go to: >>> http://listserv.icors.org/SCRIPTS/WA-ICORS.EXE?S1=gambia-l To contact >>> the List Management, please send an e-mail to: >>> [log in to unmask]¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ >>> >> >> >> >> -- >> *"Be the change you want to see in the World"* >> ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ To >> unsubscribe/subscribe or view archives of postings, go to the Gambia-L Web >> interface at: http://listserv.icors.org/archives/gambia-l.html >> >> To Search in the Gambia-L archives, go to: >> http://listserv.icors.org/SCRIPTS/WA-ICORS.EXE?S1=gambia-l To contact >> the List Management, please send an e-mail to: >> [log in to unmask]¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ >> >> ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ To >> unsubscribe/subscribe or view archives of postings, go to the Gambia-L Web >> interface at: http://listserv.icors.org/archives/gambia-l.html >> >> To Search in the Gambia-L archives, go to: >> http://listserv.icors.org/SCRIPTS/WA-ICORS.EXE?S1=gambia-l To contact >> the List Management, please send an e-mail to: >> [log in to unmask]¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ >> > > > > -- > *"Be the change you want to see in the World"* > ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ To > unsubscribe/subscribe or view archives of postings, go to the Gambia-L Web > interface at: http://listserv.icors.org/archives/gambia-l.html > > To Search in the Gambia-L archives, go to: > http://listserv.icors.org/SCRIPTS/WA-ICORS.EXE?S1=gambia-l To contact the > List Management, please send an e-mail to: > [log in to unmask]¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ > ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ To unsubscribe/subscribe or view archives of postings, go to the Gambia-L Web interface at: http://listserv.icors.org/archives/gambia-l.html To Search in the Gambia-L archives, go to: http://listserv.icors.org/SCRIPTS/WA-ICORS.EXE?S1=gambia-l To contact the List Management, please send an e-mail to: [log in to unmask] ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤