Directorate of Loans and Debt Management

Mission Statement

To contribute to the macroeconomic development of the country by making sure that governments financing needs are met at the lowest possible cost consistent with a prudent degree of risk.

Bakary Krubally

Bakary Krubally
Director of Loans and Debt Management

Working as the Director of Aid Coordination Ministry of Finance, Mr Bakary Krubally have spent over fifteen years of successful career and experience in both public and private sector working in various disciplines.

His career and experiences are focused on many areas of specialization such as the Financial Sector, working for major Commercial Banks such as Wells Fargo Bank and Standard Chartered Bank, the public sector working for the Ministry of Finance and Economic Affairs and the Ministry of Planning and Policy in the Gambia, as well as Academia working for the University of the Gambia school of business, and finally the Retail Sector working for the Home Depot USA.

These experiences together with his two masters� degree in Finance and Project Management (MBA and MSC) have equipped him and ready to take up any professional challenges in any International, Regional, Sub-regional and National organization globally.

Whilst working with the public Sector, Mr Krubally have had the opportunity to work with many development partners such as the World Bank, African Development Bank, IFAD, IMF, Islamic Development Bank, BADEA, some UN agencies etc on projects and programs development as one of the focal persons at the Directorate of Aid Coordination and Resource Mobilization Ministry of Finance and Economic Affairs and Ministry of Planning and Policy.

Mr. Krubally is a team player and love diverse workplaces as well as strongly believe that respect for others means respect for oneself.

  • Core Mandate

    The Directorate of Debt Management (DLDM) is the main unit in the Ministry of Finance (MoF) responsible for debt management. It deals with all aspects of public debt management (both domestic and external) including designing a national public debt strategy, conducting debt sustainability analyses, participation in loan negotiations, approving disbursements, effecting payments of government public debt, maintaining a comprehensive, loan-by-loan database on government and government-guaranteed external debt and on external grants to the government in CS-DRMS, coordinating with the Central Bank of The Gambia regarding the issuance of domestic debt instruments for fiscal purposes. DLDM analyzes proposed guarantees and on-lending terms, participate in the issuance of guarantees and the on-lending loan agreements and monitor the government guaranteed and on-lent loans.

    This Directorate is the Government's main channel of communication with the external creditors and donors with responsibility for interacting with the IMF and World Bank on debt sustainability analyses (DSAs) and debt strategy formulation and implementation.

    DLDM serves as the Secretariat to the Aid and Debt Management Coordinating Committee (ADMCC) and coordinates all interaction of the different agencies with respect to debt strategy formulation and implementation.

  • Objectives
    1. Making sure that Government financing needs are met at the lowest possible cost,
    2. Consistent with a prudent degree of risk.
    3. Domestic Market Development
  • Strategies

    Medium Term Debt Management Strategy

  • Key Achievements
    1. MTDS Review on an annual basis
    2. Annual public debt bulletin
    3. Successful introduction of the 3 year Government bond
  • Downloads (22)
    Third Quarter Statistical Debt Bulletin
    Third Quarter Statistical Debt Bulletin
    Second Quarter Statistical Debt Bulletin
    Second Quarter Statistical Debt Bulletin
    First Quarter Statistical Debt Bulletin 2019
    First Quarter Statistical Debt Bulletin 2019
    APPLICATION FOR 2-YEAR GAMBIA GOVERNMENT TREASURY BONDS
    APPLICATION FOR 2-YEAR GAMBIA GOVERNMENT TREASURY BONDS
    REVISED BOND GUIDELINE 2019
    REVISED BOND GUIDELINE 2019
    Prospectus of a Two Year Bond
    Prospectus of a Two Year Bond

    This prospectus is issued subject to the terms contained in the Guidelines relating to the Issue of Gambia Government Bonds published by the Central Bank of The Gambia dated May 2017 (the “Guidelines”). The terms of the Guideline apply to the above Bonds and their auction. This prospectus is only a summary of some of the more significant features of the Bond to be issued, and bidders should refer to the Information Guideline for the definitive terms

    November Debt Issuance Calendar
    November Debt Issuance Calendar
    MEDIUM TERM ECONOMIC FISCAL FRAMEWORK (2019-2024)
    MEDIUM TERM ECONOMIC FISCAL FRAMEWORK (2019-2024)

    The Ministry of Finance and Economic Affairs (MoFEA) is required by The Public Finance Act 2014, Part II Section 4, to develop a Government macro-fiscal policy and medium-term economic and fiscal framework (MTEFF) for budget preparation for each year. The MTEFF helps to integrate the top-down revenue (resource) envelope with the bottom-up sector programs executed by various Ministries, Departments and Agencies (MDAs). The MTEFF outlines expenditures reflecting the Government’s key fiscal policy priorities over the medium term (2020–2024) to be strictly guided by budget realities, investment and public procurement options, debt strategies and borrowing plans of the government and the key reform priorities.

    THE GAMBIA DEBT SUSTAINABILITY ANALYSIS 2019
    THE GAMBIA DEBT SUSTAINABILITY ANALYSIS 2019
    Medium-Term Debt Management Strategy (MTDS) for the 2019-2022
    Medium-Term Debt Management Strategy (MTDS) for the 2019-2022

    The Medium-Term Debt Management Strategy (MTDS) for the 2019-2022 horizon provides the strategic direction of Government’s intent on borrowing and debt management over the medium-term to achieve the objective of ensuring that financing needs are met at the lowest possible cost and consistent with a prudent degree of risk.

    Debt Bulleting 2018
    Debt Bulleting 2018

    The Ministry of Finance and Economic Affairs (MoFEA) is mandated under section 51 of the Public Finance Act 2014, to prepare and publish statistical bulletins of state debt and financing arrangements. Public Debt Statistical Bulletin is prepared by the Directorate of Loans and Debt Management (DLDM) at MoFEA on an annual basis to reflect the debt position of the country. The main objective of publishing the bulletin is to provide the public an account of government’s debt management operations in the fiscal year.

    international legal advisors
    international legal advisors
    2017 Public Debt Bulletin
    2017 Public Debt Bulletin
    Mid-Term Debt Strategy 2017-2020
    Mid-Term Debt Strategy 2017-2020
    Debt Sustainability Analysis - 2015
    Debt Sustainability Analysis - 2015
    Annual Public Debt Bulletin - 2013
    Annual Public Debt Bulletin - 2013

    This debt bulletin reviews the Gambias public debt portfolio and debt management practices as outlined in the debt strategy. It also highlights new developments in public debt management in 2013. 

    Annual Public Debt Bulletin - 2014
    Annual Public Debt Bulletin - 2014

    This debt bulletin reviews the Gambias public debt portfolio and debt management practices as outlined in the debt strategy. It also highlights new developments in public debt management in 2014. 

    Annual Public Debt Bulletin - 2015
    Annual Public Debt Bulletin - 2015

    This debt bulletin reviews the Gambias public debt portfolio and debt management practices as outlined in the debt strategy. It also highlights new developments in public debt management in 2015. 

    Annual Public Debt Bulletin - 2016
    Annual Public Debt Bulletin - 2016

    This debt bulletin reviews the Gambias public debt portfolio and debt management practices as outlined in the debt strategy. It also highlights new developments in public debt management in 2016. 

    Medium Term Debt Management Strategy - 2011-2014
    Medium Term Debt Management Strategy - 2011-2014

    Review of the Medium-term Debt Management Strategy (MTDS) - 2011 - 2014

    Medium-term Debt Management Strategy - 2016-2019
    Medium-term Debt Management Strategy - 2016-2019

    Review of the Medium Term Debt Management Strategy (MTDS) - 2016 - 2019

    Medium Term Debt Strategy (MTDS) - 2015-2017
    Medium Term Debt Strategy (MTDS) - 2015-2017
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