Gambia pays D600m debts

Thursday, August 01, 2019

President Adama Barrow disclosed in a press briefing at State House yesterday that Gambia has paid D600 million as debt from the revenue collected.

“We inherited a very difficult situation with 120% Gross Domestic Product (GDP) debt,” he said. “We are elected and people voting us is a social contract and because of that, we want to make impact on livelihood of the Gambian people. The debt is a big burden and we appeal to India for debt relief.”

He added that they have discussed with the Indian government on debt relief and they gave them a debt relief for five years to implement some of the projects.

“We are using 60% of our collected taxes to pay debts. Last month, we paid over 600 million from our revenue.”

He thanked president Ram for choosing The Gambia among other African countries as his first point of visit, while affirming his government’s continuous support to India. He added that they will continue the partnership for the interest of the two countries.  

Author: Pa Modou Cham
Source: Picture: President Barrow