Inflation increases as Gambian Dalasi loses value

Inflation - the rate at which the prices of goods and services increase, is forecasted to have increased more than the target of 5 per cent in The Gambia. 

This is primarily because the national currency, the Dalasi, continues to weaken in value against all major international currencies, the Central Bank Governor has said.

The Central Bank Governor made this remark on Monday during the opening ceremony of the ‘regional course on fundamentals of macro-economic analysis’. 

The weeklong training course organized by the West African Institute for Financial and Economic Management (WAIFEM) underway in Banjul, is being attended by economists from central banks in the ECOWAS sub-region and other financial institutions. 

The Dalasi has depreciated against the British Pound by 12.62 per cent, the US dollar by 11.87 per cent and the Euro by 12 per cent. 

Governor Amadou Colley said in view of this unforeseen circumstance, the Central Bank of The Gambia (CBG) would therefore continue to implement prudent monetary policy critical to maintaining low, stable and predictable rate of inflation.

Among these prudent monetary policies the Bank is expected to undertake is price stability so as to promote economic growth by reducing uncertainty and preventing arbitrary redistribution of wealth.

The CBG Governor said in view of the uncertain economic environment, policy actions should be indicated by the prevailing economic circumstances of the country.

WAIFEM equips West African economists for uncertain future

Economists from central banks and other financial institutions in West Africa are being train to reinforce their understanding on the working of the economy. 

The weeklong training, organised by the West African Institute for Financial and Economic Management (WAIFEM), is to prepare the economists to appropriately intervene in any uncertain economic environment.

The regional course on the fundamentals of macroeconomic analysis started on Monday in Banjul.

Speaking on the occasion, the Director General of WAIFEM, Prof Akpan H. Ekpo, said recent global financial crisis has raised serious concern about the need to develop adequate manpower base among institutions charged with managing the economy.

“It could be seen from the crisis that countries with weak macroeconomic fundamentals were more vulnerable to the propagation of the financial crisis,” he stated.

Prof Ekpo explained that the regional course seeks to offer the participants with the requisite theoretical and practical background that will broaden and deepen their knowledge and analytical skills on macroeconomic management.

The course has been designed to cover a number of key macroeconomic topics such as basic macroeconomic framework for policy analysis, openness in goods and financial analysis, the balance of payment and exchange rates, the interest rate and the exchange rate, the foreign exchange market, introduction to financial programming, and interrelations among macroeconomic accounts.

Civic education council capacitises ward councillors on Local Gov’t Act

The National Council for Civic Education (NCCE) on Thursday completed a two-day training for the newly elected ward councillors of the Brikama Area Council on the amended Local Government Act 2002 and Human Rights.

This training was held to enhance the capacities of councillors on their roles and functions as defined in the Local Government Act. 

It further strengthened the councillors’ understanding of human rights and human rights-based approach to development, thus increase their accountability to the people.

Ward councilors of the Brikama Area Council

Speaking on the occasion, Isatou Bittaye, programme officer of the NCCE, said the training is important in that good public governance helps to strengthen democracy and human rights, promote economic prosperity and social cohesion. 

The training would lead to the achievement of the objectives of decentralization in The Gambia, she said. 

The country’s decentralization has generally been considered to be a positive step towards making Local Governments more accountable to the poor by moving decision-making as close to the scene of action as possible.

The aim of the decentralization is to redistribute power, responsibility and resources to the local level.  It also redefined the division of labour and responsibilities between the central and the local governments. 

Enormous task ahead

For the acting-chairman of the NCCE, Alhaji Modou Joof, the tasks ahead of the newly elected councillors are enormous and expectations are very high. 

He noted that challenges and opportunities are evident but with self-reliant, faith and patriotism there will be light at the end of the tunnel. 

He told the ward councillors that with dedication, determination and hard work they will triumph against all odds and detractors.

Take risks

Mr Joof also told the councillors that they should not be afraid to take risks or being criticized.

“If you do not want to be criticised do not say anything, do anything or be anything,” he said.  “Do not be afraid of failing.  It is through failure you learn to do things right.” 

Teaching of Gambia constitution should be compulsory in schools

The teaching of the Constitution of The Gambia should be made compulsory in all schools in the country, the chief of Kombo South has said.

Alhagie Mustapha Touray said if the primary schools are too “junior” to start receiving teaching about The Gambia constitution, then the exercise should start from junior secondary schools up to the university. 

Chief of Kombo South, Alhagie Mustapha Touray

The tutors should come from the National Council for Civic Education (NCCE), he added. 

Chief Touray noted that it is only through teaching of the Constitution in schools that people will be more aware of their civic rights and responsibility.

The Chief made these statements during a two-day training on the amended Local Government Act 2002 and Human Rights for ward councillors of the Brikama Area Council, organised by the National Council for Civic Education (NCCE). 

The training started on Wednesday at the complex of the Brikama Area Council in Brikama.
His comments came shortly after the ward councillors outlined their expectations and objectives for attending the training. 

Most of the ward councillors said they are expecting to be conversant with the Local Government Act so they can perform their duties based on the Act. 

Chief Touray pointed out that if people are aware of the Constitution then understanding of the laws in the country would not be difficult hence it is necessary for the Constitution to be taught at school.

The Cleric Was Neither on a Vigil, After All

Imam Baba Leigh
Source: Front Page International blog

By Saikou Jammeh, a Gambian journalist 

The ‘disappeared’ Gambian Islamic scholar, who had been wildly speculated to have died, has finally
appeared, alive and ticking. But, after all, the astute cleric had neither been on a vigil. In fact, the past five months that he’d been away, whether he was regularly saying his prayers, is a question that is subjected to his confirmation.

For, Imam Baba Leigh was being kept against his will, arbitrarily, in a secretly-shrouded place where not even his wife could access to him. The Gambian state authorities, who had all along been telling the public, unfaithfully, that the imam was not in their custody, is the culprit here.

The prolonged detention wasn’t just a violation of the rights of the scholar, but it breaches Gambian constitution, which prohibits detention of suspects, even of a common criminality, beyond 72 hours. Yet more shocking is the government’s failure to give any genuine justification, legal or moral.

No wonder when Baba Leigh, visibly weak and frail, was paraded on the state-TV on Friday 10 April, following his release, he was a mere shadow of his former assuming self.

The outspoken cleric is no stranger to arbitrary arrest and detention, which in today’s Gambia, has become a norm rather than an exception. It seems however, that the near a half year of detention, without access to even a lawyer, is the stroke that perhaps not broke, but painfully lacerated the proverbial camel’s back.

Uncharacteristic of him, Imam Leigh was economical of the truth of the circumstances that surrounded his saga. He ironically praised the state that put him under the trauma of detention, apparently in jails whose conditions had been generally described as inhumane and degrading.

He even heaped blame on himself, and admittedly allowed to be left holding the bag of guilt, for a ‘crime’ which the state authorities were unable to muster courage to spill out, even after wallowing in Dutch courage that was the apparent stage-managed episode.

‘I am a human being and mistakes cannot be avoided, but the best human being is one, who makes mistakes, knows it and tries to rectify the mistake,’ Baba Leigh was quoted as saying. The imam however, left the ‘mistake’ unsaid. So did the Presidential Affairs minister, Njogu Bah, who as the cliché goes, roamed the bush before making his point, when he said:

‘When you comment on issues that you don’t have clear facts on, whatever happens to you, you are the cause of it…In the event that we cannot stay away from commenting, let us say things that will add to the peace and stability in the country, but not to comment on issues that can destabilise a country.”

Gambia gov’t in cash shortfall

By Lamin Jahateh

Gambia national flag

The Gambia government is currently in financial shortfall as its revenue and grants have decreased by D4 billion in one year, from March 2012 to March 2013, a data from the Central Bank of The Gambia (CBG) has indicated.

According to the quarterly report of the Monetary Policy Committee (MPC) of the CBG – released on Tuesday, provisional data on government’s fiscal operations in the first quarter of 2013 indicates that revenue and grants amounted to D1.5 billion, lower than D1.9 billion in the same period in 2012. 

Expenditure and net lending amounted to D1.9 billion, a contraction of 14.5 per cent when compared to the amount registered in 2012. 

As a result of the shortfall in revenue and a need for more expenditure, the government has increased its borrowing from local sources, such as the commercial banks in the country, to balance the difference.  

In this vein, the MPC’s quarterly report of the state of the country’s economy has it that the domestic debt of the government increased to D11.3 billion, as at end-March 2013.

Even with the increased local borrowing, the government’s overall fiscal deficit, including grants, increased by over D130 million – from D200 million registered in the first three months of 2012 to D330.4 million deficit in the first quarter of 2013.

However, though the overall revenue of the government decreased, domestic revenue has increased from D1.2 billion recorded in the first quarter of 2012 to D1.4 billion in the first quarter of 2013.

Treasury bills, through which governments borrow money, account for 77.2 per cent of The Gambia government’s debt stock.  It has increased to D8.7 billion, an increment of 23.5 per cent.   

Dalasi continues to lose value 

The national currency of the country, the Dalasi, continues to weaken in value against all major international currencies.

The MPC report said the Dalasi depreciates against the British Pound by 12.62 per cent, the US dollar by 11.87 per cent and the Euro by 12 per cent. 

“In Nominal Effective Exchange Rate terms, the domestic currency depreciated by 2.6 per cent in March 2013 compared with an appreciation of 0.4 per cent a year earlier,” the MPC said. 

However, the depreciated exchange rate provides an opportunity for the export sector to become more competitive in a challenging global environment.

Inflation projected to further increase

‘Working hours should be reduced for women workers’

By Lamin Jahateh

The Gambia National Trade Union Congress has appealed for the reduction of working hours for women workers to enable them to return home to do their domestic chores.

“On behalf of the women workers, we appeal to the Honourable Minister of Trade, Regional Integration and Employment to consider reducing the hours of work per day to facilitate them to return home on time for their domestic chores,” the secretary general of the National Trade Union Congress said.

In January 2013, President Jammeh effected a change in the official working days and hours of The Gambia.

In that vein, since 1 February 2013, official working days in the country have reduced from five to four, Monday through Thursday, and working hours increased from eight to ten hours; that is from 8am to 6pm. 

Hitherto, official working days in the country are from Monday to Friday, and hours from 8am to 4pm.

The Gambia is now one of the very few countries in the world with a mandatory four-day working week. 

The country is now shut down for a whole day while most of the rest of the world continues doing business and financial markets remain active. 

The reason advanced by the Office of the President for this sudden move was that Friday will be a rest day, a day Muslims can use to worship Allah.  Also, people will have more time to do their agricultural work as part of the President Jammeh’s call for Gambians to “eat what you grow and grow what you eat”.