By: Precious Miracle Kargbo
In a significant move towards improving fiscal governance, the Ministry of Finance concluded a three-day workshop on the Public Debt Management Act at Nimiyama Hotel in Rokel, Freetown. The workshop, which ran from August 20th to 22nd, 2025, brought together key stakeholders to discuss necessary reforms in light of evolving market conditions and international best practicDuring the closing session, Santigie Charles Conteh, Deputy Director of the Public Debt Management Division, emphasized the need for a comprehensive review of the Act, which has been in effect since 2011. “Over the years, changes in market conditions and the emergence of new divisions within the Ministry of Finance have necessitated this review,” Conteh stated.
He highlighted that global shifts, including changes in concessional financing and creditor structures, have influenced the need for legislative alignment with sub-regional standards.
The workshop also featured remarks from Mamoud Turay, National Economist Specialist at UNDP, who praised the initiative for addressing not only debt management but also broader financial management issues impacting the economy. He reaffirmed UNDP’s commitment to supporting the Ministry in financing the National Development Plan and achieving the Sustainable Development Goals (SDGs).
Cyrus Lusani, Acting Director of the Legal Affairs Division, noted that the review aims to align Sierra Leone’s laws with international best practices. “This will enhance fiscal responsibility regarding debt sustainability and create the necessary fiscal space for inclusive growth and development,” he explained.
Abu Bakarr Kamara, Coordinator of the Budget Advocacy Network (BAN), represented civil society in the discussions. He stressed that debt transparency is a critical component of good governance. “Sierra Leoneans have the right to know how public funds are borrowed, managed, and spent,” Kamara asserted. He warned that inadequate transparency could lead to corruption, making the review of the Act essential for strengthening accountability.
The workshop concluded with a presentation by Dr. Thullah, Assistant Director of the Public Debt Management Division, outlining key areas for consideration in the review of the Act. These included the purposes of borrowing, debt sustainability, approval processes, transparency measures, and management of local council borrowing.
The workshop marks a pivotal moment for Sierra Leone as it seeks to adapt its public debt management strategies to foster economic growth and ensure fiscal responsibility, aligning with global standards and practices.