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NEWS  

President Warns: No Country is an Island
By Amara Vandy
Oct 23, 2009, 17:32
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President Ernest Bai Koroma of Sierra Leone, in his Statement yesterday in Sweden has warned that no country in the world can survive if it isolates itself from other countries. He said the lessons learnt from the Global Economic downturn indicates that no country can afford to be insulated from other countries.

The President was addressing a gathering of top international figures on the Global Economic Downturn when he said, "we live in a complex and interconnected world, and that no country can hope to insulate itself completely from the challenges faced by others".

Koroma told the Stockholm meet that for Africans, our economic troubles did not start with the collapse of Lehman Brothers.

"First, there was the food crisis that saw the global price of rice double in less than a year. Then came the fuel crisis, with oil prices climbing to nearly $150 a barrel. And finally there was the financial crisis that plunged the whole world into recession," Koroma informed but proudly added that there was a time when shocks of this intensity would have thrown Sierra Leone into turmoil but that time has passed because due to fiscal management, Sierra Leone still enjoyed an economy that grew by "more than double the average for the rest of Africa".

"The reason we have been able to withstand the current crisis is because of the efforts made to ensure political stability, rebuild our economy and make Sierra Leone a country of genuine opportunity," Koroma stated adding "The result is that wherever you look in Sierra Leone, you see untapped opportunities, many of which we will be showcasing to private investors at our first international Trade and Investment Forum in London on November 18th."

Koroma also used the opportunity to appeal for the ban on fish exports from Sierra Leone to the EU to be lifted.

The full speech as well as the one delivered on Rural Development will be published next week.


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