Gambia domestic debt is D32.5B as at July

Monday, September 02, 2019

The governor of the Central Bank of The Gambia on Thursday disclosed in a press conference that the stock of domestic debt stood at D32.5 billion as at end July 2019 compared to D31.2 billion in the corresponding period a year ago.

He said stock of Treasury and Sukuk-Al Salaam bills, accounting for 58.3% of outstanding domestic debt, increased by 8.8% to D18.9 billion during the period under review.

“From December 2018 to July 2019, the yields on the 91-day, 182-day and 364-day treasury bills declined to 3.98% and 8.77% respectively from 5.06%, 7.04% and 9.48% in the period last year.”

On banking sector, he said according to the financial soundness indicators, the banking sector remains adequately capitalized, highly liquid and profitable. He added that the risk-weighted capital adequacy ratio stood at 29.0%, well above the statutory minimum of 10%.

“The ratio of liquid assets to total assets was 57.9% at end June 2019 compared to 56.6% a year ago. Liquid asset to deposit ratio stood at 95.6% compared to the statutory requirement of 30%. Total deposits stood at D31.0 billion as at end June 2019, an increase of 25.7% from June 2018.”

As at end-June 2019, he disclosed that total assets of the banking industry increased by 25.4% to D47.5 billion, adding that the ratio of non-performing loans to gross loans declined to 2.3% from 2.7% a year ago, largely reflecting enhanced credit administration processes and effective loan recovery measures. 

Author: Pa Modou Cham
Source: Picture: The governor of the Central Bank of The Gambia