Sierra Leone’s Ministry of Finance is reviewing its Public Debt Management Act in a bid to strengthen fiscal responsibility, improve transparency, and align the country’s laws with international best practices, officials said at the end of a three-day workshop in Freetown.
The Act, which has been in place since 2011, is being updated to reflect shifting market conditions, changes in the structure of domestic and external creditors, and new global financing guidelines, said Santigie Charles Conteh, Deputy Director of the Public Debt Management Division.
“With new divisions emerging at the Ministry of Finance, the review of the Act and related legislation is aimed at improving Sierra Leone’s public financial management architecture,” Conteh told participants at the closing session on Friday.
Mamoud Turay, National Economist Specialist for the United Nations Development Programme (UNDP), said the review would support not only debt management but also broader financial reforms to underpin economic growth. He pledged UNDP’s continued support for financing Sierra Leone’s National Development Plan and achieving the Sustainable Development Goals (SDGs).
Cyrus Lusani, Acting Director of the Ministry’s Legal Affairs Division, said the revised framework would help create the fiscal space needed for inclusive growth and development. Civil society representatives also backed the move, stressing the importance of transparency.
“Debt transparency is not a technical issue, but a fundamental policy of good governance in sustainable development,” said Abu Bakarr Kamara, Coordinator of the Budget Advocacy Network. “Sierra Leoneans have the right to know how public funds are borrowed, managed, and spent.”
According to Dr. Thullah, Assistant Director of the Public Debt Management Division, key areas under consideration include borrowing purposes, debt sustainability, approval processes, guarantees, local council borrowing, and enhanced disclosure requirements.
Officials said the review is expected to strengthen accountability and reduce corruption risks by ensuring that borrowing and debt management are aligned with both national priorities and international standards.
