Umaru Napoleon Koroma: Sierra Leone Telegraph: 3 December 2018:
The SLPP government under the astute leadership of His Excellency the President Retired Brigadier Julius Maada Bio has just last week got an economic stimulus of a staggering $171.5m from the International Monetary Fund or IMF.
As an immediate measure $21.5m is to be dispatched without further delay while the remaining cash will be spread over a 36 month period.
This is good news for all Sierra Leoneans who mean well for themselves and the country. As the ruling party, we are particularly proud of the strides of our government, and the cash injection by the IMF is testimony of the government’s fiscal discipline demonstrated so far in its 8 months of taking over power.
It is important to note that Sierra Leone had lost track of the IMF’s extended credit facility since 2017 under the previous administration and the global body had locked us out. The consequences of that were far reaching on our creeping economy.
At the time, the SLPP took over earlier this year, the economic outlook was gloomy with slow growth and rising Inflation.
The previous government’s failure or deliberate refusal to institute measures to checkmate the glum despite the imposition of an economic austerity which turned out to be mere lip service, meant the country was in financial quandary.
The lost glory which the previous administration placed on the entire country, is gradually being recovered by the government of President Bio.
The SLPP’s New Direction manifesto promised to bring sanity and sound economic management of the country. That a body like the IMF has agreed to inject such huge sums of money into our country is proof of matching words by actions.
Every Sierra Leonean should be hopeful that indeed a new dawn has arrived. We must now focus on the benefits of such stimulus to our country, and put out the party lens that we often wear in approaching national issues.
We must be expectant of better infrastructure, sound education and prudent fiscal management, alongside the provision of several other services that had been lacking.
We want to thank His Excellency the President Retired Brigadier Julius Maada Bio, the Minister of Finance Honourable Jacob Jusu Saffa, the Financial Secretary Mr. Sahr Jusu and the rest of the economic team for a job well done.
The development of Sierra Leone is at the core of the SLPP manifesto, and we will not relent in working towards it.
About the author
Umaru Napoleon Koroma is the Secretary General of the ruling SLPP government and chairman of the National Commission for Privatisation.