GAMBIA SELLS LUXURY GOODS YAHYA JAMMEH TO REPLENISH ITS COFFERS
In the Gambia, it will take time for the economy to stabilize after 22 years as president Yahya Jammeh. Nearly one in two Gambian lives below the poverty line and the International Monetary Fund, which led a mission to the country this month, expressed concern about the heavy weight of debt. To offset this bad news, Finance Minister Amadou Sanneh made a very symbolic announcement, luxury goods of the former president will soon be sold.
The Gambian government has decided to sell luxury cars that Yahya Jammeh could not take in exile in Equatorial Guinea. Ten of them, including Rolls Royce registered in the name of the former leader, are at present in the possession of authorities.
The government also intends to find a buyer for the three presidential aircraft, which are still on the tarmac at Banjul airport. According to the Minister of Finance, ads for these sales should soon be available on a website.
A symbolic measure that is part of a strategy of the Ministry in an attempt to compensate for the weight of a crippling debt. In 2017, it rose to 130% of GDP according to the IMF. A figure that could even be underestimated, warns the institution, because it has not yet studied the accounts of public companies.
The Gambian economy, however, shows some signs of improvement, with growth at 3.5% and inflation down.
Source : afriquemedia.tv