Posted by President Adama Barrow says The Gambia is using 60% of its collected revenue to pay debts.
“We are using 60% of our collected taxes and pay debts. Last month, we paid over 600 million from our revenue,” he said at a joint press briefing with Indian President Ram Nath Kovind, at State House on Wednesday.
He thanked President Ram for choosing The Gambia as his first point of visit of his West African tour, while affirming his government’s continuous support to India.
He said that they will continue the partnership for the interest of the two countries.
Last month alone, Barrow said that Gambia has paid D600 million as debt from the revenue collected.
“We inherited a very difficult situation with 120% Gross Domestic Product (GDP) debt,” he said. “We are elected and people voting us is a social contract and because of that, we want to make impact on livelihood of the Gambian people. The debt is a big burden and we appeal to India for debt relief.”
He added that they have discussed with the Indian government on debt relief and they gave them a debt relief for five years to implement some of the projects.