Amid hyperinflation rocking the impoverished West African nation, Gambia’s dictator Yahya Jammeh, has resorted to devaluing the US dollar, the pound sterling, the Euro, and other Western currencies, the Freedom Newspaper can report. The decision followed an acute cash shortages, characterized by hyperinflation. The dictator has henceforth instructed the Governor of the Central Bank Amadou Colley, to devalue and manipulate foreign currencies.
The Gambia largely relies on foreign remittances and tourism to run a virtually bankrupt state. Now that the tourism season has commenced, the dictator wants to blackmail the few tourists visiting the country by paying them less money during the exchange of their respective currencies to The Gambian dalasi.
In two week time, political parties in The Gambia are required to submit their nomination papers. The opposition relies on financial assistance it received from supporters in diaspora. Jammeh is also banking on stealing from the foreign remittances being made by opposition supporters overseas.
The International Monetary Fund (IMF) has repeatedly called on The Gambian government to desist from foreign currency manipulations, but such calls have fallen into deaf ears. Jammeh is refusing to heed their calls.