The Ministry of Finance, in collaboration with partners, has concluded a three-day workshop focused on reviewing Sierra Leone’s Public Debt Management Act. The event took place from August 20 to August 22, 2025, at Nimiyama Hotel in Rokel, Freetown.
Santigie Charles Conteh, Deputy Director of the Public Debt Management Division, explained that the Public Debt Management Act has been in effect since 2011. He noted that evolving market conditions and new divisions within the Ministry have prompted a review of the Act and related legislation to improve public financial management. According to Conteh, global changes such as shifts in external concessional financing and creditor structures have also influenced this process. “He said these changes have led to the idea of reviewing the Act to align with other legislations within the sub-region. He added that 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, acknowledged the importance of addressing not only debt but also broader financial management issues during the workshop. “He stated that the workshop addresses not only debt, but also other related financial management matters that support the economy.” Turay affirmed UNDP’s commitment to collaborating with the Ministry on financing national development efforts and achieving Sustainable Development Goals (SDGs). “He assured that 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, emphasized aligning national laws with international standards for fiscal responsibility. “In his statement, said 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 discussed transparency as essential for good governance. “A representative for the Civil Society, Abu Bakarr Kamara, Coordinator of Budget Advocacy Network (BAN), explained that debt transparency is not a technical issue but they are fundamental policy of good governance in sustainable development.” Kamara stressed citizens’ right to information about how public funds are managed: “He added that Sierra Leoneans have the right to know how public funds are borrowed, managed and spent.” He further noted: “He noted that inadequate transparency and accountability can lead to corruption and aspect of reviewing Act strengthen various factors including transparency is good.”
Dr. Thullah, Assistant Director of Public Debt Management Division, highlighted key areas under consideration for revision during a presentation—such as borrowing purposes, debt sustainability assessments, approval processes, transparency measures, managing guarantees and local council borrowing.