Gambia’s finance ministry says it has appointed advisers to help put its debt on a sustainable path. The country has been facing a heavy debt burden that has reached a hundred thirty percent of gross domestic product at the end of last year. The International Monetary Fund (IMF) is warning the country against any new borrowing.
Finance ministry says in a statement, the new international financial adviser Potomac Group, working with Orrick, Herrington & Sutcliffe as international legal adviser, will assist with the development and implementation of a strategy to put the country’s external debt on a sustainable path.
Gambian president Adama barrow has vowed to revive the country’s faltering economy with sweeping reforms as he sought to draw a line under the erratic 22-year rule of his predecessor Yahya Jammeh.
Director of debt management, Ebrima Darboe, said the appointments were part of the government’s reform agenda and was expected to boost growth.
African Summit Gives Sudan Military Three Months To Implement Reforms
African leaders have agreed, at a meeting in Cairo on Tuesday, to give Sudan’s ruling military council three months to implement democratic reforms, and a quick restoration of the constitutional system through a political process, amid pressure for a handover of power to civilians.
The decision extends a 15-day deadline set by the African Union last week for Sudan’s Transitional Military Council (TMC) to hand over power or be suspended from the A.U. TMC took over after president Omar Al-Bashir was ousted earlier this month.
The TMC has been under pressure from demonstrators to hand power to civilians immediately.
Egypt`s Abdul Fatah Al Sisi, who holds the rotating African Union presidency, said at the end of the summit in Cairo, they have agreed on the need to give more time to Sudanese authorities and Sudanese parties to implement required measures.
Mozambican Authorities Warn Of A Possible Tropical Storm Hit
Mozambican authorities have warned of a tropical storm that could hit the country this week, just one month after cyclone Idai ravaged the nation. The next organized tropical cyclone, to be named Kenneth could also affect Tanzania.
The National Institute for Disaster Management’s spokesman, Paulo Tomás says, they will keep abreast of the evolution of the weather system.
Last month, cyclone Idai killed at least 960 people in parts of Mozambique, Malawi and Zimbabwe, leaving some 3 million people in need of humanitarian assistance.
Egypt Voters Approve Referendum Extending President’s Rule
Egypt’s election commission has announced, 88% of voters had approved changes to the constitution that could allow president Abdul Fattah Al-Sisi stay in power until 2030. The amendments would also give the president new powers over the judiciary.
The commission says, voter turnout during the three-day referendum was nearly 44 and a half percent and almost 90 percent approved the amendments while 11.17 percent voted no.
The amendments will extend Sisi’s current term to six years from four and allow him to run again for a third six-year term in 2024 and to appoint one or more vice presidents.
His critics questioned the credibility of the turnout figure announced and are asking how can a constitution be changed to fit one person.
Sisi’s supporters say he has stabilized Egypt and needs more time to reform and develop the economy.
After the announcement was made, Al-Sisi sent the message quote “I am your god.”
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