As Gambia’s economy continues to sink, the Central Bank of The Gambia Monetary Policy Committee has reported that the country’s domestic debt has risen to D25.1 billion dalasi, the Freedom Newspaper can reveal. In contrast, the bank says while monetary supply contracted by 0.2 percent in June of 2016, compared to a growth of 11.9 percent in June, 2015. Gambia’s reserve money, the Central Bank’s operating target grew by 18.6 percent in the year to end of June 2016, from 19.7 percent a year earlier, the Bank said.
According to the Central Bank Governor, the outstanding stock of the Treasury bills and Sukuk Al Salam (SAS) combined, which accounted for 61.4 percent of the debt, increased to D15.6 billion or 12.2 percent from last year. While yields on the 91 day and 182 day treasury bills declined to 1.15 percent and 17.83 percent in June 2016 from 17.28 and 18.44 percent and 17.83 percent in June 2016 from 17.28 percent and 18.44 percent in June 2015, the report added. Yield on the 364 days bills, on the other hand, rose to 21.85 percent from 21.45 percent a year ago, the bank said.
According to the CBG, yields on the 91 days and 182 days SAS declined to 17.5 percent and 17.9 percent in June 2016 compared to 17.6 percent and 18.4 percent respectively in June 2015. Yield on
The CGB Governor said preliminary data on government fiscal operations for the first half of 2016 shows that total revenue and grants amounted to D4.29 billion (10.percent of the GDP) in the corresponding period a year earlier.
Domestic revenue, which comprises tax and nontax revenues, said the CBG, increased to D4.2 billion 9.8 percent of the GDP compared to D3.9 billion 9.8 percent of the GDP in the corresponding period a year earlier.