Remittances: The Core Foreign Exchange Earner For The Gambia


Instead of export of goods and services expanding to enable Gambians to earn foreign exchange, remittances are becoming the major source of foreign exchange for the country. The committee responsible for monitoring the monetary policy of the country has indicated as far back as November 2021 that remittances as at October stood at US$657.22 million which is equivalent to about 35 billion dalasis.

This puts the country in a dilemma. Many government programmes exist to discourage Gambians from taking that perilous journey without providing them with an alternative to live lives free from poverty. Hence there is a push factor which is motivating young Gambians to take the risk to cross the ocean in search for greener pastures.

Celebrating the contributions made by the diaspora in generating foreign exchange for the country also confirms how the country is dependent on remittances. There is need for a revisit of the role the diaspora could play in shaping the policies of the country.