Freedom Newspaper (Raleigh, North Carolina)
24 March 2008
Economic uncertainties is threatening the lives of Gambian consumers. Despite the dramatic fall of the value of the Mighty US dollar and the Pound Sterling, cost of living in The Gambia is getting higher and higher. Many families are starving to death, due to high cost of living. Rice, which is the country's main staple food is out of reach.
The price for the bag of rice has tripled in recent times. For example, a bag of rice which used to cost D600 Dalasis, is now costing D700 dalasis, way over $50 dollars. The dollar is today trading at D17 dalasis. Price for cooking oil, meat, fish and other household needs have went up. A gallon of cooking oil, which used to cost D650, has been increased to D700 dalasis. A bag of onion has been increased from D300 dalasi to D350 dalasis. A kilo of meat has jumped from D75 dalasi to D90 dalasis.
About 60 percent of The Gambian population relied on family remittances from overseas. With the depreciation of the value of the pound and the dollar, there is bound to economic unrest in this country. Monies sent by loved ones overseas is not serving its purpose these days, because market prices have gone up one hundred percent.
The spending power for the average Gambian consumer, has been affected by these price hikes. Many have resorted to starving themselves, before they would run out of budget.
While salaries are still stagnant, there is little or no hope in this country. Economic destitution is threatening the lives of Gambians. Prostitution, thievery and corruption are also on the rise. The street begging menace is also becoming a common problem in the country. There is an economic time bomb. Slowly, but surely, many are dying because of hunger and starvation related problems. The farming community are the most hard hit.
Mustapha Jallow, a businessman at the Serre-Kunda Market, tells the Freedom Newspaper that the price hikes were due to high Government taxes. Jallow said they the businessmen cannot sell their goods at losses , considering the poor value of the dollar, coupled with shipment cost, among other expenses.
Kebba Fadera a shopkeeper in Brikama, said it is unfair for consumers to blame them. He said the Government should be blamed for the problem instead. " They are trying to control inflation by forcing the value of the dollar down. Of course, there is bound to be economic hardship. This is what happened if a Government wants to determine its own foreign exchange price. They should take the blame and not us." Said Fadera.
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