Infact,  my source telephoned me last night saying the government is
apparently worried about the IMF move.  It is contempulating embarking on a
major job cuts.  However, this move is not popular among the top brass of
the regime.  One source said panic and   anxiety continue to grip government
officials,  as the bombshell  is bound to  roll in the civil service.
Another source said any move to down size the civil service might bring
more economic hardship to poverty stricken civil servants.

The country is not only faced with economic down town, but as well as cash
shortage.     The Pound is trading at D52 dalasi, while Dollar, EURo and CFA
Franc is flying day by day.  The Central Bank should be honest enough to
tell the reality on the ground.   My sources from Banjul, revealed that
overUS$ 20million dollars  went uncounted for at the Central Bank.   The IMF
is furious about level of corruption in the country.  Yahya's second man and
closet associate Baba Jobe, is engaged in tax evation and private foreign
excahange activities, which is adding more fire to the cash shortage.  It is
time for this greedy politicians to be exposed.  They are milking the
nation's coffers and nobody dared  to stop them.   They are running private
business firms under cover, and most of the time are evading taxes.  It
doesn't take one to be an economist to know that Gambia's economy is in
shamble.  Jobe and his  cohorts must know that the very regime they are
serving toppled the Jawara regime on the pretext of rampant corruption and
lacked of accountability.  But today,  there is a  complete U turn.  They
have deviated from their orginal pronouncements. What a shame.    They have
desmontrated that they are more corrupt than the Jawara regime.

In a related development Baba Jobe is said to owing the state about
D20,000million worth of tax.  His youth enterprise had been evading taxes.



>From: Momodou S Sidibeh <[log in to unmask]>
>Reply-To: The Gambia and related-issues mailing list
><[log in to unmask]>
>To: [log in to unmask]
>Subject: Re: IMF threatens to suspend  operations in the  Gambia?
>Date: Mon, 1 Sep 2003 07:55:38 +0200
>
>For all I know, this piece below posted by Edi Sosseh is widely circulating
>amongst the country's bankers and economists. If nothing else, it should be
>taking seriously as it could mean the beginning of the meltdown....
>
>Momodou S Sidibeh
>
>
>----- Original Message -----
>From: "edi sossoeh" <[log in to unmask]>
>To: <[log in to unmask]>
>Sent: Friday, August 29, 2003 2:46 PM
>Subject: IMF threatens to suspend operations in the Gambia?
>
>
> > The International Monetary Fund IMF has threatened to impose sanctions
> > against the Gambia, if the county fails to tackle its ailing economy,
>which
> > is taking its toll on the citizens of the West Africa country, sources
>close
> > to the heart of the Gambian government revealed yesterday.  IMF and
>World
> > Bank are expressing concerned about the increasing corruption and
> > unnecessary waste of state resources by the regime, which earlier
>claimed it
> > is out to salvage the country from the 30 years PPP misrule and wanton
> > corruption.
> >
> > Sources say IMF is requesting the Jammeh adminstratio to conduct an
>audit
> > exercise at the Central Bank and to  cut down jobs at the Finance
> > Department, who are widely blamed for the country's worst economic
>crisis in
> > history.  The Finance Department said our sources say the current
>economic
> > trends is beyond their control and can't do much to salvage the tiny
>West
> > African country.  The country is not only faced with growing inflation,
>but
> > as well as acute food shortage and increasing poverty.
> >
> > Sources say IMF vowed to suspend their activities in the Gambia, if the
> > government fails to take necessary measures to cut down unnecessary
> > expenditure and tax evation.  Unconfirmed reports from Banjul, suggested
> > that Finance Mininster Famara Jatta who appeared confused about the
> > developments had decided to go on leave, thus leaving his ministry in a
> > complete disarray.  It is not yet clear, whether Jatta will return to
>his
> > post, but sources say there are moves for cabinet resuffle by the
>regime.
> > But one source said this will not help the address the  situation.  The
> > source said the regime is currently experiencing a major cash crisis and
> > lacked money to run the country.  The customs and exercise Department
>and
> > other revenue institutions are also said to be witnessing revenue drops.
> > This is attributed to wide range of corruption, as public officials are
> > evading tax.  These and many others said my source is hindering economic
> > growth in the country.
> >
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