Bakary
Jammeh, the governor of the Centeral Bank of The Gambia (CBG), on Thursday
disclosed that as at October 2019, the stock of the country’s domestic debt had
increased to D33.0 billion from D31.1 billion in the corresponding period a
year ago.
The
governor was speaking in Banjul during the quarterly meeting of the Monetary Policy
Committee (MPC) of the Central Bank.
“The
stock of treasury and Sukuk Al-Salam bills increased by 14.8% to D19.7 billion
during the period under review,” he said. However, he added that the yields on
the 91-day, 182-day and 364-day Treasury bills declined from 4.97%, 6.83%, and
9.25% as at October 2018 to 2.56%, 5.26%, and 7.57% respectively at end October
2019.
Mr.
Jammeh further buttressed on the impact of the banking sector, indicating that
it remains adequately capitalized, liquid and profitable.
“The
risk-weighted capital adequacy ratio stood at 32.3% as at end September 2019,
higher than the statutory requirement of 10%. All the banks were above the
minimum capital requirement.”
As
at end September 2019, the governor said that the total assets of finance
companies expanded by 4.4% to D1.4 billion compared to D1.2 billion in the same
period last year.
He
further said that the deposits mobilised increased by 24% to D1.0 billion
during the period under review.
“The
[MPC] realises that the improvement in the current account of the balance of
payments continued to support the stability of the exchange rate of the dalasi.
It has also been realised that the level of international reserve of the bank
is at a comfortable level.”
“The
committee has decided to maintain the policy rate at 12.5%. It has also been
decided to maintain the interest rate on the standing deposits facility at 2.5%
and the standing lending facility at 1.3%.”
