Africa-Press – Sierra-Leone. Sierra Leone’s Ministry of Finance has concluded a three-day workshop focused on reviewing the country’s Public Debt Management regulatory framework.
Held at Nimiyama Hotel in Rokel, Freetown, the workshop took place from Wednesday, August 20th, to Friday, August 22nd.
It brought together government officials, development partners, and civil society representatives to collaborate on strengthening the nation’s debt management practices.
Deputy Director of the Public Debt Management Division, Santigie Charles Conteh, noted that the Public Debt Management Act has been in force since 2011. Over the years, evolving market conditions and the creation of new divisions within the Ministry have prompted a review of the Public Financial Management Act and related legislation to strengthen Sierra Leone’s public finance management framework.
He highlighted that global shifts in concessional financing and creditor structures, both domestically and internationally, have influenced the review process. “These changes necessitate aligning our laws with other regional legislations and incorporating international best practices in debt management,” he said.
National Economist Specialist for UNDP, Mamoud Turay, commended the Ministry for organizing the workshop. He emphasized that the discussions go beyond debt management to include broader financial management issues that support economic growth. He assured continued UNDP support for financing the National Development Plan and achieving the Sustainable Development Goals (SDGs).
Cyrus Lusani, Acting Director of the Legal Affairs Division, stated that the review seeks to enhance fiscal responsibility, ensure debt sustainability, and create fiscal space for inclusive growth and development.
Civil society representatives also weighed in. Abu Bakarr Kamara, Coordinator of the Budget Advocacy Network (BAN), stressed that debt transparency is fundamental to good governance. “Sierra Leoneans have the right to know how public funds are borrowed, managed, and spent. Strengthening transparency through the review of the Act is a positive step,” he said.
During a presentation, Assistant Director of the Public Debt Management Division, Dr. Thullah, highlighted key areas under consideration for the Act’s review, including borrowing purpose, debt sustainability, approvals, guarantees, and borrowing by local councils.
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