Africa-Press – Gambia. The Minister of Information, Media, and Broadcasting Services, Dr. Ismaila Ceesay, has defended the government’s economic management following concerns raised in a recent World Bank report regarding the country’s debt levels.
In an interview with West Coast Radio, Dr. Ceesay emphasized that some interpretations of the report have been misinterpreted , noting that the World Bank’s overall assessment was largely positive. “Well, I think people read that particular report out of context; in fact, the World Bank has really praised the Gambia in that particular report for sound and judicious but also public finance management,” he said.
The minister highlighted that the report reflects robust economic growth and improved debt management.
“In fact, it says that our economy is projected to grow to 5.7 to 5.9 percent per year. Inflation has gone down, and also our debt-to-GDP ratio has gone down from 73 percent, I think a couple of years ago, to now 60-something percent,” Dr. Ceesay stated.
He further reassured that the country’s borrowing remains manageable and debt levels are sustainable.
“So we are doing well on that front; we are not taking on new, more unsustainable debts, our debts are sustainable,” he said.
Dr. Ceesay emphasized that The Gambia’s economic outlook remains positive, noting that the World Bank does not consider the situation alarming.
“The Gambia’s economy is on track, as confirmed by the World Bank,” he said. “I mean, obviously, if 20-something percent of your budget goes to servicing debt, there is some concern because that money could have been used for something else. But it is not like it’s unsustainable, and we have seen a significant improvement with regard to our debt-to-GDP ratio.”
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