Gov’t suspends issuing guarantees to public enterprises

Friday, March 10, 2017

Given that the current public dept situation of The Government of the Republic of The Gambia is at high risk and unsustainable level which accounted for 115% of the Gross Domestic Product (GDP) and undoubtedly contributed to the present macroeconomic instability of the country. In recent years, large proportion of this public dept emanated from the State Own Enterprises (SOEs) liabilities towards external and domestic creditors.

In light of the above, the Government of The Republic of The Gambia through the Ministry of Finance and Economic Affairs is adopting economic policy management measures to help attain public dept sustainability and overall macroeconomic stability.

Therefore, the State Own Enterprises (SOEs) and general public at large are hereby informed of the suspension of issuing of Government Guarantees to State Own Enterprises (SOEs) for both domestic and external borrowings.

Source: Ministry of Finance

Source: Picture: Finance Minister Amadou Sanneh