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Gambia has one of the highest government debts to GDP ratio and one of the worst places to do business

Abdou Colley

With the world experiencing one of the lowest rate on interest since record began with some rates in the negatives in some of the richest countries, means that cheaper borrowing and therefore more money for spending. The World Economic Forum (WEF)'s Global Competitiveness Survey took a look at the competitveness of nations and their level of government debts against their GDP percentage, concluding that the those with the lowest debt to GDP ration the better. 

The Gambia at 91.7% of debt to GDP ration means at number 18, is one the worst in the world as its citizens and future generations are not only saddled with high levels government debts versus its GDP but with business being left with no access to finance or at about 25% to 35% interest rates for borrowers, rendering the interest rate not only prohibitive but as it is so high that it can only be classified as 'Riba' or usury under Islamic law, which is lending money at exorbitantly high interest rates. 

The heavy burdened foreign currency regulations and the constant meddling with the interest rates by the government of the psychopathic dictator means that business have no certain or access to the required foreign currency, making business in The Gambia, one of the most difficult in the world. 

The high inflation and wages not growing according to the inflation rate, also means that life in The Gambia is among the worst in the world, resulting in many teenagers taking to the high seas and the desert on the perilous journey to Europe. This has surprised many as Gambia, before the military coup had enjoyed visa free access to almost all European countries, especially UK. 

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