NEWS
AS ECONOMIC UNCERTAINTIES GRIPPED GAMBIANS -RICE PRICE HAD RISEN TO D700
DALASIS
BY STAFF WRITER



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September 8, 2005
Gambia - As Gambians continue to be gripped by economic and political
uncertainties, the price of rice, the country's main stable food had risen
to D700 dalasis, the ALLGAMBIAN online newspaper can reveal.

The local business Community in the tiny West African country, says the
hikes on the price of rice was due to the high cost of foreign exchange.
They informed the ALLGAMBIAN about the difficulties, they usually
encountered in importing rice into the country. They cite among other
things, the acute foreign exchange and high Port charges to import rice into
impoverished nation.

Meanwhile, the unprecedented rice price increment had been greeted with
mixed reaction across the country. While some communities blamed the
business sector for imposing what they called such "exorbitant price" others
accused the Jammeh government of being insensitive to their plight. They
told the ALLGAMBIAN that despite numerous promises by President Jammeh to
make rice affordable in the country, prices are going up on a daily bases.

They warned that if the current trend continues, many families will die of
hunger, as what's happening in some African countries. They told this news
medium that Jammeh's so called "Operation No Compromise" which was designed
to tackle inflation and corruption is "buried", as prices of basic
commodities are hiking these days.

While the local populace complaint about the exorbitant rice price, many
families up country says they have stopped eating rice. Many told the
ALLGAMBIAN that thanks to the coos and corn they harvested they are able to
survive.

The business Community who spoke to our reporter says they have little
control on the current hikes on rice prices. They warned that prices are
likely go up in months to come, as one of them pointed out that "the current
economic trend is not changing for the better. "They told the ALLGAMBIAN
that if the trend continues they will be unable to import rice into the
country in the long run, pointing out that they cannot bring rice into The
Gambia, when the local populace cannot afford its cost.

An economic expert, who spoke to the ALLGAMBIAN says, there had been a
dramatic decline in Gambia's import cover in recent times. The economist
attributed this to what he called the depreciating dalasis against major
international currencies. The economic expert also hinted that due to lack
of investors and serious economic activities the country is unable to meet
its basic import cover. Our source went further to explain that the
country's economy is not moving and the government is spending more money on
projects, which bring little or no money for the country.

An insider at the Central Bank of The Gambia told the ALLGAMBIAN that, in an
attempt to tackle the cash shortage hitting the country, they have embarked
on a "vigorous" fund raising program by organising treasury bills tenders.
This said the insider, will help the regime in meeting certain monetary
projects, which the source said are currently at stand still.

In a separate development, gas prices have also gone up. Sources say there
is growing discontent among citizens on the current state of affairs.



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