By: Fatou Krubally
Lawmakers on Wednesday called for urgent measures to protect the Gambian Dalasi, expressing concern over its continued depreciation against other currencies.
The MPs also raised concern over the increasing use of foreign currencies in domestic transactions, which they warned was undermining confidence in the country’s legal tender.
The debate was initiated by the Deputy Majority Leader and Member for Old Yundum, Hon. Abdoulie Ceesay, who said demanding payment in foreign currencies for local transactions was unlawful and posed a threat to the country’s financial stability.
He noted that, except for international trade and transactions specifically exempted by law, the Dalasi remained the only legal tender in The Gambia.
“When hotels, landlords or traders demand payments in dollars, euros or CFA francs for domestic transactions, they are not only breaking the law, they are breaking faith with the Gambian people,” Ceesay said, urging citizens to report such practices to the relevant authorities.
Supporting the call, Member for Central Badibou Hon. Sulayman Saho argues that protecting the Dalasi requires more than enforcing the law against the use of foreign currencies. He said government must adopt sound economic policies, strengthen financial discipline and improve regulation of the country’s financial institutions.
Saho also raised concerns over counterfeit currency, the management of foreign exchange and inflation, insisting that confidence in the Dalasi can only be restored through effective economic management.
Member for Foni Bintang Hon. Bakary Badjie described the Dalasi as a symbol of national identity and sovereignty, saying its continued depreciation should concern every Gambian. He questioned the growing acceptance of foreign currencies in some local transactions and stressed that the country’s legal tender must be respected.
Contributing to the debate, Member for Sabach Sanjal Alhaji Babou Ceesay called on citizens to report businesses that insist on payments in foreign currencies, while acknowledging that the law provided limited exceptions. He also commended the Central Bank of The Gambia for measures aimed at strengthening the national currency.
Member for Upper Saloum Hon. Alhagie Mbowe linked pressure on the Dalasi to the country’s heavy dependence on imports. He argued that supporting agriculture, local industries and domestic production would reduce demand for foreign currencies and strengthen the economy.
Nominated Member Kebba Lang Fofana condemned the growing practice of charging for rent, goods and services in foreign currencies, warning that it places unnecessary pressure on the Dalasi and contributes to rising prices.
For his part, Member for Wuli East Hon. Suwaibou Touray says the strength of the Dalasi ultimately depends on the strength of the national economy. He urged government to invest more in productive sectors, particularly agriculture and tourism, to increase foreign exchange earnings and improve the value of the country’s currency.
Throughout the debate, members agreed that protecting the Dalasi requires both strict enforcement of existing laws governing domestic transactions and sound economic policies capable of strengthening public confidence in the national currency.
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