In its application for a bail-out of an economy, the regime of Yaya Jammeh cited the fiscal shock of the Ebola outbreak as reason for the economic down-turn, but we all know better.
The so-called policy slippages have been brought about by irresponsible spending habit of a regime that turns out to be most corrupt and inept.
To restore macroeconomic imbalance and bring policy implementation back on track, the regime of Yaya Jammeh assured the IMF of its commitment at "implementing strong upfront fiscal measures".
Part of these fiscal measures include "massive retrenchment of government workers", including the Office of the President and the security forces. The exercise will also include a staff audit exercise to weed out the numerous ghost workers currently in government payroll.
The government of the Gambia is effectively bankrupt with less than a month of import cover and thus the need for a bail-out loan to enable the regime to meet salary obligation. Without the bail-out funds from the IMF, government will not be able to meet its salary obligation.
Developing story ......
