IMF-GAMBIA GOVERNMENT'S FINANCIAL POSITION IN THE FUND AS OF 03/31/2008
Special Investigations by Hammadi Maasinah
This official data which other places see as information for public consumption but Yahya Jammeh sees it as government secrets! What is secretive in this after all? It is the reality on the ground. What is bad about it is that government receives such information,"berbs" it to suit what they want to send out. Finally they make their own versions ommitting a lot more only to paint a good image for Yahya. When they very well know what they write is a package of misinformation! Isn't that itself a reason to impeach or remove Yahya from power? How about the figures,the timing and other lope holes? These are hard faccts from data that has been prepared by internationally recognized experts. Of course Balla Gaye does not know how we got this data? Neither does any other civil servant working in that sector. We are still sending in the starters the main dish is yet to be served. By the time I end these revelations Yahya Jammeh will stop threatening Gambians therefore think about how he would escape an international arrest warrant. Time will judge.
Read what the APRC is doing to us in hiding....
Gambia, The: Financial Position in the Fund
as of March 31, 2008
Summary of IMF members’ quota, reserve position, SDR holdings, outstanding credit, recent lending arrangements, projected payments due to the IMF, and monthly historical transactions with the Fund.
I. Membership Status: Joined: September 21, 1967;Article VIII
II. General Resources Account:SDR Million%Quota
Quota31.10100.00
Fund holdings of currency29.6295.23
Reserve Position1.484.77
Holdings Exchange Rate
III. SDR Department:SDR Million%Allocation
Net cumulative allocation5.12100.00
Holdings0.102.04
IV. Outstanding Purchases and Loans:SDR Million%Quota
PRGF Arrangements6.0019.29
V. Latest Financial Arrangements:
Date ofExpirationAmount ApprovedAmount Drawn
TypeArrangementDate(SDR Million)(SDR Million)
PRGF Feb 21, 2007 Feb 20, 201014.00 6.00
PRGF Jul 18, 2002 Jul 17, 200520.22 2.89
PRGF Jun 29, 1998 Dec 31, 200120.61 20.61
VI. Projected Payments to Fund 1/
(SDR Million; based on existing use of resources and present holdings of SDRs):
Forthcoming
2008 2009 2010 2011 2012
Principal
0.20
Charges/Interest
0.130.170.170.170.17
Total
0.130.170.170.170.37
1/ When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.
VII. Implementation of HIPC Initiative:
Enhanced
I. Commitment of HIPC assistance
Framework
Decision point date
Dec 2000
Assistance committed
by all creditors (US$ Million) 1/
66.60
Of which: IMF assistance (US$ million)
2.30
(SDR equivalent in millions)
1.80
Completion point date
Dec 2007
II. Disbursement of IMF assistance (SDR Million)
Assistance disbursed to the member
1.80
Interim assistance
0.44
Completion point balance
1.36
Additional disbursement of interest income 2/
0.49
Total disbursements
2.29
1/ Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts can not be added.
2/ Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.
VIII. Implementation of Multilateral Debt Relief Initiative (MDRI):
I. MDRI-eligible debt (SDR Million)1/9.42
Financed by: MDRI Trust7.44
Remaining HIPC resources1.98
II. Debt Relief by Facility (SDR Million)
Eligible Debt
Delivery
Date
GRA
PRGF
Total
December 2007N/A9.429.42
1/ The MDRI provides 100 percent debt relief to eligible member countries that qualified for the assistance. Grant assistance from the MDRI Trust and HIPC resources provide debt relief to cover the full stock of debt owed to the Fund as of end-2004 that remains outstanding at the time the member qualifies for such debt relief.
_________________
Decision point - point at which the IMF and the World Bank determine whether a country qualifies for assistance under the HIPC Initiative and decide on the amount of assistance to be committed.
Interim assistance - amount disbursed to a country during the period between decision and completion points, up to 20 percent annually and 60 percent in total of the assistance committed at the decision point (or 25 percent and 75 percent, respectively, in exceptional circumstances).
Completion point - point at which a country receives the remaining balance of its assistance committed at the decision point, together with an additional disbursement of interest income as defined in footnote 2 above. The timing of the completion point is linked to the implementation of pre-agreed key structural reforms (i.e., floating completion point).
Prepared by Finance Department