The Ministry of Finance and its partners recently concluded a three-day workshop focused on reviewing Sierra Leone’s Public Debt Management Act. The event, held at Nimiyama Hotel in Rokel, Freetown, brought together officials from the Ministry, representatives from international organizations, and civil society members.
Santigie Charles Conteh, Deputy Director of the Public Debt Management Division, noted that the Public Debt Management Act has been in place since 2011. He explained that over time, changes in market conditions and the emergence of new divisions within the Ministry have prompted a review of this legislation to improve public financial management in Sierra Leone. Conteh said global shifts—including adjustments in external concessional financing and creditor structures—have also influenced the need for legislative updates.
He stated: “These changes have led to the idea of reviewing the Act to align with other legislations within the sub-region.” He added: “International Financial Institutions in global Fora have introduced guidelines, policies, and practices that guide the management of debt.”
Mamoud Turay, National Economist Specialist for UNDP, praised those who organized the workshop. “The workshop addresses not only debt, but also other related financial management matters that support the economy,” he said. Turay further assured participants: “UNDP is committed to working with the Ministry in terms of financing the National Development Plan and achieving the Sustainable Development Goals (SDGs).”
Cyrus Lusani, Acting Director of Legal Affairs Division at the Ministry of Finance, commented on aligning local laws with international standards. According to Lusani: “The review is to align the laws with international best practices to enhance fiscal responsibility regarding debt sustainability, to create the fiscal space needed for inclusive growth and development.”
Civil society was represented by Abu Bakarr Kamara from Budget Advocacy Network (BAN), who stressed that transparency around public debt is essential for good governance. Kamara stated: “Debt transparency is not a technical issue, but they are fundamental policy of good governance in sustainable development.” He continued: “Sierra Leoneans have the right to know how public funds are borrowed, managed, and spent.” Kamara also warned about risks associated with poor transparency: “Inadequate transparency and accountability can lead to corruption, and the aspect of reviewing the Act to strengthen various factors including transparency is good.”
Dr. Thullah, Assistant Director of Public Debt Management Division at MOF, delivered a presentation outlining areas under consideration for revision within the Act. These include clarifying borrowing purposes; ensuring debt sustainability; establishing approval processes; increasing transparency; managing guarantees; and setting rules for borrowing by local councils.
The review process aims to update Sierra Leone’s legal framework governing public debt so it reflects current realities while supporting broader economic goals.