Folks, the end is nearing for the criminals and cannot let them escape.
Please read on.
Tales of Mismanagement, Corruption And Fiscal Indiscipline Incur IMF Wrath
The Independent (Banjul)
September 5, 2003
Posted to the web September 5, 2003
Banjul
Woeful tales of mismanagement, corruption and fiscal indiscipline in
government have reportedly incurred the wrath of the International Monetary
Fund and the World Bank who may put their work in The Gambia temporarily on
hold until "sanity" returns to the country's economic system.
The Brettonwood institutions' reported wrath comes against the backdrop of
especially harsh economic realities for ordinary Gambians seen as the most
glaring evidence of the aftermath of mal-administration. Dependable sources
within the higher rungs of Yahya Jammeh's administration intimated to The
Independent earlier this week that IMF and World Bank officials are
increasingly losing patience with the dismal economic performance of the
regime and their language of understanding and patience is increasingly
giving way to a more resolute stand that may culminate in "punitive
isolation" of The Gambia. This may mean significant cut in aid for the
country's economic development drive the sources added in confidence.
"This will in effect be a kind of sanction on the government by the IMF and
the World Bank, who want to see some form of sanity in the administration of
resources, a process which may include an auditing exercise at the Central
Bank and some job cuts in the civil service" another top government
official, whose anonymity was assured as a precondition to providing this
information indicated. The IMF and the World Bank are reportedly displeased
with the level of fiscal indiscipline as suggested in official corruption
and resource wastage, which put work to restore sanity into the economic
system in disarray.
The Central Bank is reportedly a salient target for IMF and the World Bank's
recommended measures to turn the country's economic fortunes, which is a
reported condition if the Fund were to resume and retain interest in The
Gambia's development efforts. Sources even went as far as suggesting that
the IMF and the World Bank are on the verge of suspending their activities
in the country although this could not be independently verified coupled
with speculations that a cabinet reshuffle was imminent as President Jammeh
reportedly attempts to act decisively before losing potential international
donors concerned about the economic situation of the country, which is not
complimented by a free-falling local currency, and a deteriorating standard
of living for ordinary people.
Apart from the Central Bank, other institutions reportedly being singled out
for radical reforms by the IMF and the World Bank are the Finance Department
and the Customs and Excise Department, the latter of which sources said has
experienced some abrupt cuts in government intervention. Insiders at the
Customs and Excise Department intimated that from the end of July to the end
of September the Accountant General has decided to stop all payments for
overtime work by its staff, pointing to the need for a revised approach
towards national spending in view of the government's depleting coffers and
the debilitating economic gridlock. Customs insiders believe that their
overtime dues will be permanently discontinued although it was part of the
"items of package" from the IMF and the World Bank. Accountant General
Margaret Keita is however on leave, The Independent has gathered and may not
be available for sometime to answer to inquiries about this new and
unpopular directive, which reportedly emanated from her and which seems to
be part of a string of measures to address the "wasteful" spending
characterising Yahya Jammeh's administration.
Meanwhile the Department of Finance appears resigned to the fate of the
local currency, calling on all Gambians to share the responsibility for the
resultant economic crisis, which is still declining complacently downhill as
price instabilities become the rule rather than the exception to our
economic morass.
The Independent (Banjul)
September 5, 2003
Posted to the web September 5, 2003
Banjul
Woeful tales of mismanagement, corruption and fiscal indiscipline in
government have reportedly incurred the wrath of the International Monetary
Fund and the World Bank who may put their work in The Gambia temporarily on
hold until "sanity" returns to the country's economic system.
The Brettonwood institutions' reported wrath comes against the backdrop of
especially harsh economic realities for ordinary Gambians seen as the most
glaring evidence of the aftermath of mal-administration. Dependable sources
within the higher rungs of Yahya Jammeh's administration intimated to The
Independent earlier this week that IMF and World Bank officials are
increasingly losing patience with the dismal economic performance of the
regime and their language of understanding and patience is increasingly
giving way to a more resolute stand that may culminate in "punitive
isolation" of The Gambia. This may mean significant cut in aid for the
country's economic development drive the sources added in confidence.
"This will in effect be a kind of sanction on the government by the IMF and
the World Bank, who want to see some form of sanity in the administration of
resources, a process which may include an auditing exercise at the Central
Bank and some job cuts in the civil service" another top government
official, whose anonymity was assured as a precondition to providing this
information indicated. The IMF and the World Bank are reportedly displeased
with the level of fiscal indiscipline as suggested in official corruption
and resource wastage, which put work to restore sanity into the economic
system in disarray.
The Central Bank is reportedly a salient target for IMF and the World Bank's
recommended measures to turn the country's economic fortunes, which is a
reported condition if the Fund were to resume and retain interest in The
Gambia's development efforts. Sources even went as far as suggesting that
the IMF and the World Bank are on the verge of suspending their activities
in the country although this could not be independently verified coupled
with speculations that a cabinet reshuffle was imminent as President Jammeh
reportedly attempts to act decisively before losing potential international
donors concerned about the economic situation of the country, which is not
complimented by a free-falling local currency, and a deteriorating standard
of living for ordinary people.
Apart from the Central Bank, other institutions reportedly being singled out
for radical reforms by the IMF and the World Bank are the Finance Department
and the Customs and Excise Department, the latter of which sources said has
experienced some abrupt cuts in government intervention. Insiders at the
Customs and Excise Department intimated that from the end of July to the end
of September the Accountant General has decided to stop all payments for
overtime work by its staff, pointing to the need for a revised approach
towards national spending in view of the government's depleting coffers and
the debilitating economic gridlock. Customs insiders believe that their
overtime dues will be permanently discontinued although it was part of the
"items of package" from the IMF and the World Bank. Accountant General
Margaret Keita is however on leave, The Independent has gathered and may not
be available for sometime to answer to inquiries about this new and
unpopular directive, which reportedly emanated from her and which seems to
be part of a string of measures to address the "wasteful" spending
characterising Yahya Jammeh's administration.
Meanwhile the Department of Finance appears resigned to the fate of the
local currency, calling on all Gambians to share the responsibility for the
resultant economic crisis, which is still declining complacently downhill as
price instabilities become the rule rather than the exception to our
economic morass.
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