Darboe raises alarm over The Gambia’s debt, exceeding 100 billion dalasis. He urges financial transparency, highlighting undisclosed loans that worsen the debt crisis. He advocates for investing in agriculture rather than acquiring more loans and criticizes foreign agreements affecting national assets.
In a recent press conference, Darboe expressed grave concerns regarding The Gambia’s escalating national debt, which has surpassed 100 billion dalasis. He noted that the nation allocates 11 billion dalasis towards servicing this debt, emphasizing that this substantial amount could be better utilized in the agricultural sector. He argued that such investment would yield significant economic benefits and enhance social security for the citizens.
Darboe further criticized the government’s lack of transparency regarding undisclosed loans. He stated that if proper audits were conducted, numerous hidden loans would be revealed. He highlighted past audits that uncovered billions of dalasis in unreported debts, which were not included in the national budget, stressing that this lack of disclosure adversely affects the economy and exacerbates the debt crisis.
The opposition leader cautioned against the government’s continued reliance on loans and grants rather than investing in domestic agriculture. He underscored the need to prioritize paying off existing debts over acquiring new loans, arguing that sustainable economic growth relies on sound financial management.
Additionally, Darboe condemned the agreement with foreign companies to manage the Gambia Ports Authority, asserting that it results in a detrimental arrangement. He lamented that while the local government retains only a 20% share, the majority of benefits, 80%, are allocated to foreign partners, equating this deal to essentially selling national assets.
In conclusion, Darboe’s statements highlight the pressing issues surrounding The Gambia’s burgeoning national debt and the government’s financial practices. He calls for increased transparency, a reevaluation of loan dependency, and a renewed focus on agricultural investment to bolster the economy. His concerns regarding the management of key assets, such as the ports, further emphasize the need for prudent governance to safeguard national interests.
Original Source: thepoint.gm
