Sunday, November 16, 2014
A letter to Gambia's Finance Minister and Central Bank Governor
Hon. Kebba S. Touray
Minister of Finance and Economic Affairs
Mr. Amadou Colley
Governor of the Central Bank of The Gambia
Central Bank Building
Dear Hon. Minister,
RE: A list of locally-financed 'critical development projects'
I am writing to request a list of all the locally-financed projects undertaken by the government in the last ten years and the individual costs associated with each of these projects.
This request is being made as a result of the response provided by the Governor of the Central Bank recently at the joint National Assembly committee relating to the growing domestic debt that is getting worse.
According to the Governor of the Central Bank, the persistent growth of the domestic debt is as a result of government competing with the private sector for loans in the banking sector resulting in higher cost of borrowing.
The Governor seemed to have suggested to the joint National Assembly committee that domestic borrowing of the magnitude seen in the last decade or so is unavoidable because it was necessary to fund what he described as "critical development projects."
It would be highly appreciated if the Government can provide me with a list of these category of projects with project cost associated which each of these critical development projects.
I look forward to hearing from you. It would appreciated if the list could be sent directly to my email address at firstname.lastname@example.org
Sidi M. Sanneh