(JollofNews) – The former governor of the Central Bank of the Gambia has used his first media interview since his sacking to hail his record in salvaging the country’s ailing economy and monetary system.
Amadou Colley was sacked on Tuesday by President Adama Barrow after six years in the top job. He was removed together with his deputies Basiru Njai and Oumie Savage-Samba and director of finance, Ousainou Corr.
No reason was given for their removal.
Bakary Jammeh, a senior researcher at the bank, has been named as the new governor.
Mr Colley said although he was surprised at his unceremonious removal, he is proud to have served the Gambia for over three decades.
“I am honoured to have the opportunity to serve my country for 30 years in various capacities,” he told the independent Point Newspaper.
” I am proud to say we did our best to salvage the economy and the monetary system of the country. We had experiences of serious challenges but we did our best to confront them.
“I thank my staff at the bank, the staff of the Ministry of Finance, and the staff of the commercial banks for a good working relation throughout my tenure. I wish the new team success.”
The sacking of the senior heads of the bank was made at a time when the Gambia is experiencing high inflation and depreciation of the local currency.
The country’s economic growth in 2016 is now estimated to have reached only 2.2 per cent, down from 4.3 per cent in 2015, due to limited availability of foreign exchange, weak agricultural output and the effect of the political impasse on tourism during high season.
Headline annual inflation stands at 8.8 per cent in February 2017, driven by higher food prices and the recent depreciation of the Dalasi which increases the domestic price of imported goods.