As 🇬🇲 marks 60 years of independence, we reflect on our resilience amid challenges. The traditional head ties remind us of our determination. While our smiling coast seems diminished, we must ask: Do we hold onto hope for a brighter future, or is it time for meaningful change?
Dear Mr. @BarrowPresident
In case the advisors haven’t told you:
1. If you fail to call on Macky to leave & stand by the Senegalese people, you’ll have a tough time dealing with the next president.
2. An escalation in 🇸🇳 could create a security vacuum for you.
3. Such could
There is so much talent in #Gambia that is not shining! Don't be shy to show off what you are good at. As my uncle @TafNjie says, "Blow your own trumpet".
Please comment below and share what you think you're good at. I am truly interested!
We were honored to have Kumbale Goode on our podcast on the business hub segment. Kumbale is a pioneer in the fintech industry. She's the CEO of Taybull Pay, a mobile money transfer service. She highlights on this clip the limitations Gambians put on themselves.
The Gambian economy has improved its currency mainly due to tourism and remittance inflows, as well as prudent macroeconomic policies. Some of the factors that have contributed to the currency appreciation are:
#Tourism The Gambia is a popular destination for tourists from Europe and other regions, especially during the winter season. Tourism arrivals had started well at the beginning of 2020, but collapsed by about 50% in March 2020, as containment measures were put in place swiftly due to the COVID-19 pandemic. However, the sector has gradually recovered in 2021, as travel restrictions eased and vaccination rates increased. Tourism is expected to strengthen further in 2022 and beyond, as the pandemic recedes and confidence returns. Tourism revenues provide a significant source of foreign exchange for the country, which supports the value of the dalasi.
#Remittances: The Gambia receives substantial remittances from its diaspora, mainly from Europe and North America. Remittances grew at a record pace in the second quarter of 2020, perhaps due to travel restrictions closing informal channels. As a result, international reserves continued to rise in 2020, reaching $520 million (7 months of import cover) by the end of the year. Remittances have remained resilient in 2021, despite the global economic slowdown and the uncertainty caused by Russia’s invasion of Ukraine. Remittances provide another important source of foreign exchange for the country, which helps to stabilize the dalasi.
#Macroeconomicpolicies: The Gambia has implemented prudent fiscal and monetary policies in recent years, with support from the International Monetary Fund (IMF) and other development partners. The fiscal deficit has been contained at manageable levels, financed mostly by grants and concessional loans. Public debt has declined from 83.8% of GDP in 2021 to 80.8% of GDP in 2022, yet risk of debt distress remains high.
The central bank has maintained a flexible exchange rate regime, allowing the dalasi to adjust to market conditions. The central bank has also tightened monetary policy to address inflationary pressures, raising the policy rate from 10% in May 2022 to 13% in December 2022. These policies have helped to preserve macroeconomic stability and enhance confidence in the dalasi.
Another one!
I'm back with another #Giveaway
One lucky person will win this amazing pair of LG ToneFree wireless earbuds. You know what to do now!
1. 👍🏽 Like & 🔁 Share this post
2. 😁 Follow @fadyhocheimy
The winner will be announced on 23/9/23
#fhgiveaway