Banjul trading post and base, constructing houses and barracks for controlling entrance to the Gambia estuary and suppressing the slave trade. The British renamed Banjul Island as St. Mary's Island and named the new town Bathurst, after the 3rd Earl Bathurst, Secretary of State for War and the Colonies at the time. Streets were laid out in a modified grid pattern, and named after Allied generals at the Battle of Waterloo. The town became the centre of British activity in the Gambia Colony and Protectorate. After independence, the town's name was changed to Banjul in 1973. On 22 July 1994, Banjul
Capital flight assets from a city or region within a country. Post-apartheid South African cities are probably the most visible example of this phenomenon. The flight of capital from central cities to the suburbs that ring them was also common throughout the second half of the twentieth century in the United States. Countries with resource-based economies experience the largest capital flight. A classical view on capital flight is that it is currency speculation that drives significant cross-border movements of private funds, enough to affect financial markets. The presence of capital flight indicates the need for policy reform. In 1995, the International Monetary