Gambia’s 2019 domestic debt increases to D31.8B

Thursday, June 06, 2019

Gambia’s central bank governor said the country’s stock of domestic debt has increased to D31.8 billion in May 2019 from D31.2 billion in the corresponding period, a year ago.

At a monetary policy committee meeting recently held at the Central Bank in Banjul, Bakary K. Jammeh said the yield on the 91-day treasury bills declined from 5.87% at  April 2018 to 4.73% at end April 2019. “In contrast, the 182-day and 364-day treasury bills rates increased from 5.93% and 9.23% to 6.85% and 9.51%.”On the banking sector, governor Jammeh explained  that the financial sector remains well capitalised, highly liquid and profitable, adding that as at end of March 2019, total assets of the banking industry expanded by robust 18.6% to D47.34 billion.

He reiterated that asset quality continues to improve, while adding that the ratio of nonperforming loans to gross loans declined to 2.9% from 7.9% a year ago, reflecting largely enhanced risk management in the industry and effective loan recovery measures. “The risk weighted capital adequacy ratio stood at 28.7%, well above the minimum requirement of 10%. The ratio of liquid assets to total assets was 45.1% and the liquid assets to deposit ratio stood at 90.6% compared to the statutory requirement of 30%.”

He said total deposits stood at D28.92 billion as at end of March 2019, higher than D24.3 billion in March 2018.

Author: Pa Modou Cham