Focus on misplaced priorities set on broken pillars of falling economic super structure.
(JollofNews) –Deep biting economic hardship and financial meltdown that Gambians continue
to suffer is at the extreme situation of thermal death for a nation in grief with no hope of redemption. Refusing to share the excruciating pain that ravages whole society the country’s President Jammeh instead chose celebrating 20 years of 22 July 1994 military coup in lavish spending weeklong party time from 10 October 2014. In attendance of this special celebration are heads of states and other high profile guests from around the world; one of them Peace TV anchor man Dr Zakir Naik, Indian Islamic scholar and preacher.
Basic principles and most prudent practice of economics put to test in Gambia under Jammeh produced clear results. Land, labour and capital all belong to one man just because he occupies the public high office as president. By occasion of the most uneven and unfair distribution of public resources, Gambian people have no choice while occupier of the presidency takes not only the lion’s share but everything. Scarcity in cash flow and supply of goods now reached unbearable proportion. Hopes of good life run out to diminishing scale as entire population hopelessly watch one man’s rise from rags to riches in gross exploitation of the nation’s presidency.
Gambians continue to mourn not only over so many people killed by the president in 20 years military dictatorship. The economy and financial system also count as dead victims of all time abusive President who pretends everything is right. Pillars of the nation’s economic super structure have fallen apart leaving the system to collapse. Not even the most shrewd economists and financial genius could so easily piece up 20 years broken economy amidst financial disorder without pains.
President Yaya Jammeh says Gambia is on track to becoming industrial nation of world class superpower ranking. The truth is that Gambia does not produce even razor blade or cooking pots. For what he calls his achievement of goals set on misplaced priorities President Jammeh invites high profile guests from abroad to enjoy the occasion of illegal military rule called a revolution.
No occasion to celebrate, yet
Most amazingly, President Yaya Jammeh kept the flame of festivals burning from that fateful 22 July 1994. Those who know Kanilai where the president calls home will tell you that it is party time day and night dusk to dawn 247. Animals are slaughtered for sacrifice to demons and meat is distributed for meals. Drumming and dancing is all time social event. Contests are organised between various entertainers including witch craft displays, magicians, and women wrestlers.
This time, the president is not going easy as weeklong festivities mark the invasion by junior army cohorts in a coup that dislodged 30 year rule of Sir Dawda Kairaba Jawara, imposing Yaya Jammeh, a dictator who insists he will rule for 1 billion years. He stated clearly over national radio and television that anyone who wants to replace him must be ready to fight as he risked his life to become president.
While President Jammeh stays enjoying, Gambians mourn over death of the economy and financial system leaving households struggling to meet basic demands of regular meals. Minority of the people pose to be enjoying while the majority bitterly weep in silence. Welcome to the republic of Gambia. Join a president of festivities in celebrating an illegal 22 July 1994 coup event that sensible people say is no occasion worth this lavish spending spree.
How Gambian economy collapsed to death
In the absence of any statistical data and tabulated figures, the fact about a dead Gambian economy collapsed financial system is visibly noticed by walking down the road and about how people cry in pain of daily hardship.
Here is how the Gambian economy collapsed without any hope of recovery so long as Yaya Jammeh remains chief custodian of public resources around which the engine of growth spins.
From time of his invasion in dislodging democratically elected government of the day in July 1994, the focus of attention and what Jammeh still continues holding as key motivation is to milk down the economy for his selfish interest. Sole interest in that regard is getting rich quick and to stay richer.
Experiment on real economy, public finance, and national human capital
Governments around the world take control of public resources and expected to manage on behalf of everyone else. That includes serving as custodian for instruments of governance and provision of public services.
After seizing power by force of guns, the authority as head of government in the perception of Yaya Jammeh is one where he takes freedom to exercise control of the economy, public finance, and human capital with no limitations.
In practice Jammeh seeing himself above rules and regulations does not respect judicious use of public finance and other resources as stipulated in the General Order (GO) and Financial Instructions (FI). Doors to all financial institutions and economic value reserves are open to gross exploitation by Jammeh as president with no restrictions.
By such occasion, he only says let it be and so it stands. His insatiable desire for money could not be quenched without bearing a mark. Entire national economy and public finance remain an experimental platform for Jammeh as president who believes that all public resources belong to him. All public sector workers are also considered as extension of Jammeh’s slave empire.
With that unsystematic handling of public funds and national resources, the result is total collapse. There is hardly any serious challenge in productive terms. Other people who also think doing right is just by pleasing President Jammeh form their little empires. They abuse pubic office in much the same as Jammeh does.
That is how Gambia continues to suffer serious decline in economic livelihood and financial health of the nation. Jammeh does not have anyone to advice. Even the best of economists and financial genius could not prevent the big fall.
Donor money is meant for poverty reduction and not industrial development
Most Gambians will be disappointed to realise that donor funds that Jammeh and his cohorts so corruptly divert for personal use are not really meant for industrial development. Gambia does not have the enabling economic super structure and financial environment to propel industrial development. Funds from donors are meant for poverty reduction as it is with other poor nations.
Diverting public funds for personal wealth building is another way that the economy and financial system of Gambia collapsed almost beyond recover.
Some of these donor funds are loans and others are grants. When Yaya Jammeh and his corrupt government divert money borrowed in the name of Gambian people there is no debt servicing. All those idle funds will be liability for by Gambian tax-payers n generations. A spiral effect of poverty rises as borrowed public funds sits in private savings accounts of a corrupt president and his money milking cohorts. These are tips and anyone interested can explore further on how corruption at level of the leadership kills national economy and financial systems combined.
Falling Pillars of Gambia’s Economic Super Structure by abuse of President Jammeh
Fear of punishment, job loss and possible arrest looms large over all public sector workers. Everyone is worried if by next day they will still be at work or asked to go home without any explanation.
Result of all that fear and disorientation is what keeps everyone tight lips with folded hands. Yaya Jammeh is given free hand to dismantle the economic superstructure without any plans or the will to recover colossal wreckage resulting from his meddling.
Reality of the whole situation is that Jammeh prior to July 1994 coup has never been handling complex or even simple management responsibility. To let him toy around with entire national economy and public finance is ready recipe for total failure where judicious upkeep of policy instruments and systematic dispensation matter not.
Jammeh is aware of his destructive weight on public resources and how that impacts on the national economy. Due to arrogance and pure stubbornness or by delusion he refuses to let reason prevail.
Poverty Eradication to Poverty Creation – Jammeh’s rise from rags to reaches
Poor as he was just before staging a coup to lay control of national resources, Jammeh could not sustain life with basic needs fulfilled. Lifting Jammeh from low depths of poverty required huge commitment of resources. That was not only where full scale of damage to national economy and finance came by.
Jammeh’s ambition to get rich at all cost required entire platform of public finance and national resources carry his weight. That weight continued to increase with more risk of resources. Jammeh became rich from abuse of his position as president. Gambian economy continues declining further down and now with no hope of recovery too soon.
Open access to public resources gives Jammeh ample confidence that he is capable of throwing parties every day and still keep huge reserves for further lavish spending abroad. Buying properties at prime locations in America and elsewhere on top of customised fleet of expensive automobiles plus private jet are some of the possessions that Jammeh boasts of in his property portfolio as president sustained by Gambian tax payer funds.
It is no secret saying that Jammeh is richer than government of Gambia. He talks of everyone as poor and tries to appear generous by showering gifts as show of wealthy person status.
What Jammeh needs being reminded about is the fact that at time of staging a coup to become head of state on 22 July 1994 he never inherit one Dollar from his parents or was not a business man. The only way Jammeh became rich is by abuse of public office that Transparency International (TI) will prefer to describe as corruption. The man is rick by hook and by crook. That is giving him open hands to throw big parties including this one in the name of celebrating a coup he calls July 1994 revolution.
Remittance from abroad as rescue option
Gambians living abroad serve an extended economic pillar with financial support to families. Anyone who remit money to their families need to be aware that cuts from such monies are contributions to making the abusive president richer. All sources of public revenue are connected to financial milking pot that keeps President Yaya Jammeh richer at expense of everyone. He is grossly exploiting Gambian tax payers and that includes those abroad extending remittance to families regularly.
Most Gambians abroad were of the notion that they have escaped the financial web cast out by president Jammeh. Only when pressure from families back home intensified that some of them began seeing the connection between corrupt leader like Jammeh and health of national finance or the economy. Many Gambians abroad have now taken firm stance towards dislodging Jammeh and his corrupt regime. On social media, numbers are growing.
So many commercial banks with little financial service
For the size of Gambian business community and low volume of economic activity, operation of so many commercial banks is not viable. There are invisible under hands pushing the informal economy that ordinary people are not aware of. Some of these banks are sustained by customers whose finances undergo capital flight without landing on Gambia’s economy. Money laundering and counterfeit currency dealings cannot be ruled out.
A broken economy and collapsed financial system could not sustain so many banks. That is how dirty money gets laundered through corrupt presidents. Drugs and arms dealings are all avenues that cartels exploit as poor countries become corrupt and leaders needs cash to fund their lifestyle of excesses. To have so many commercial banks operating in Gambia without the enabling economic environment and viable financial system invites more questions.
Invisible hands seem to be more actively lifting funds that escape the good eyes of competent people.
Jammeh should have formed political party and not seize power by coup
As he insists on celebrating military rule by staging a coup in 1994, Jammeh has to be reminded of one truth. To be seen as clean and honest, he had all opportunities forming a party as decent entry to the political arena. Nobody demanded him to use weapons in dislodging a democratically elected government. It was not his personal business to see change in Gambia.
When Jammeh and his military cohorts seized power he ranted about corruption and overstay by deposed Jawara regime. After 20 years it is clear to everyone that Jammeh is far more corrupt, unjust, and such an unlawful leader. Above all, he kills to induce fear.
To celebrate military rule and calling that revolution is big shame on Jammeh. People of Gambia are held hostage for 20 years and because Jammeh enjoys enslaving the nation as he continues stealing this celebration has to go on.
Gambian people are mourning the death of friends, family members, the economy and financial system all killed by President Yaya Jammeh over 20 years misrule. There is no occasion to celebrate.