Tag Archives: Gambia
The International Monetary Fund (IMF) says Gambia’s newly introduced Tax collection system — the Value Added Tax (VAT)- is killing the country’s ailing economy and businesses. “The outlook for the economy is generally favorable for 2013, but there are risks. Real GDP growth is expected to accelerate, if the recovery in crop production is sustained.
A special envoy dispatched to Banjul by the Russian Federation has disclosed that he came to seek The Gambia’s support in his country’s bid to host the World EXPO 2020 in the city of Ekaterinburg, report the Daily Observer – government’s controlled newspaper.
In a move that is angering Diaspora Gambians and their families back home, The Gambia government on Thursday announced the banning of all local and long distance Skype and Viber free calls in The Gambia–citing what it calls “the major financial loss that government is accruing due to Skype and Viber free calls,” the Freedomnewspaper reports.
Statement by an IMF Mission to The Gambia for Concluding Discussions of the First Review of the ECF Arrangement
BANJUL, Gambia, April 15, 2013/African Press Organization (APO)/ – An IMF mission led by Mr. David Dunn visited The Gambia during April 4-10, 2013, to conclude discussions on the first review of the authorities’ macroeconomic and financial program that is supported by the IMF under its Extended Credit Facility (ECF). The mission met with His Excellency President Yahya AJJ Jammeh, Honorable Minister of Finance and Economic Affairs Abdou Kolley, Governor of the Central Bank of The Gambia (CBG) Amadou Colley, and other senior officials.
The fact that the country is a tourist destination and relies heavily on tourism for its Gross Domestic Product (GDP), the government has over the years being stepping up efforts to transform the country’s tourism sector. Thus, the recent transformation of The Gambia Hotel School to a ‘Tourism and Hospitability Institute’.
CAMAC Energy Inc. (NYSE MKT: CAK) is a U.S.-based energy company engaged in the exploration, development and production of oil and gas. The Company’s principal assets include interests in OML 120 and OML 121, offshore oil and gas leases in deep water Nigeria which include the currently producing Oyo Oilfield, and six recently acquired exploration blocks in Kenya and Gambia. The Company is currently pursuing further additions to its exploration portfolio in East and West Africa. The Company was founded in 2005 and has offices in Houston, Texas, Nairobi, Kenya, Banjul, Gambia and Lagos, Nigeria.
Despite stern warnings to reduce domestic borrowing, by a team of experts from the International Monetary Fund (IMF) that visited the country about a year ago, the small West African country is reeling with an outstanding domestic debt that claims the country’s 37% of Gross Domestic Product (GDP).
The Economic Community of West African States’s Business Directory Regional Information System on Business Opportunities (ECOBIZ) was launched yesterday, Monday, 4th February 2013, at the Independence Stadium, by officials of The Gambia Chamber of Commerce and Industry (GCCI), as part of activities of the ongoing sixth Trade Fair.
The Monetary Policy Committee (MPC) of the Central Bank of The Gambia (CBG) has stated that the banking industry in small West African country remains fundamentally sound, revealing that the industry’s capital and reserves increased to D3.06 billion in December 2012 compared to its D2.63 billion in 2011, mainly on account of capital injection amounting to D392.4 million.