BANJUL \ufffd The World Bank will provide Gambia with $56 million in budget support to help the West African country’s new government address a high deficit and provide basic public services.<\/P>
Despite an influx of foreign donor money after succeeding longtime strongman Yahya Jammeh in January, President Adama Barrow’s government is struggling to balance its books, running a projected 1 billion dalasi ($21.75 million) deficit this year.<\/P>
“We are all aware that Gambia is a fragile country, and the current economic crisis may threaten the success of the political transition,” World Bank country director Louise Cord told reporters in the capital Banjul.<\/P>
“We aim to provide a rapid response to the country’s urgent financing needs, but also to lay the ground work for future, deeper structural reforms,” she said.<\/P>
Barrow’s government has accused Jammeh, who is in exile in Equatorial Guinea, of committing fraud on a massive scale during his 22-year rule, including siphoning off tens of millions of dollars in public money.<\/P>
<\/P>
Source: Voice of America<\/P>
<\/P><\/p>\n","protected":false},"excerpt":{"rendered":"
BANJUL � The World Bank will provide Gambia with $56 million in budget support to help the West African country’s new government address a high deficit and provide basic public services.<\/p>\n
Despite an influx of foreign donor money after succeeding longtime strongman Yahya Jammeh in January, President Adama Barrow’s government is struggling to balance its books, running a projected 1 billion dalasi ($21.75 million) deficit this year.<\/p>\n
“We are all aware that Gambia is a fragile country, and the current economic crisis may threaten the success of the political transition,” World Bank country director Louise Cord told reporters in the capital Banjul.<\/p>\n
“We aim to provide a rapid response to the country’s urgent financing needs, but also to lay the ground work for future, deeper structural reforms,” she said.<\/p>\n
Barrow’s government has accused Jammeh, who is in exile in Equatorial Guinea, of committing fraud on a massive scale during his 22-year rule, including siphoning off tens of millions of dollars in public money.<\/p>\n<\/p>\n
Source: Voice of America<\/p><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n