From Awareness Times Newspaper in Freetown

Local News
In Sierra Leone, Parliament Reaches Finance Agreement with IDA
By Mohamed Kanu
Jun 23, 2010, 17:10

The House of Parliament on Tuesday 22 May 2010 reached an agreement for supplementary financing with the International Development Association (IDA) for the Third Governance Reform and Growth Credit on behalf of the Republic of Sierra Leone. The document was laid before the House by the Deputy Minister of Finance and Economic Development, Hon. Momodu Kargbo.

Addressing MPs, the Deputy Minister said the agreement is an indication that our partners are satisfied with the current trend of the Sierra Leone economy. He informed that the agreement is to enhance good governance and the maintenance of services for the citizenry. "Sierra Leoneans should be happy for such a development as a laudable step taken by government," he said.

In response however, Honorable Foday Rado Yokie of main opposition Sierra Leone Peoples Party (SLPP) said they were not criticizing the agreement, but concerned about the conditionality attached to it. He refuted claims by the minister that Sierra Leone is on good economic footing. "There should be no need for supplementary loan if there is a very good macro economic base in the country," he said adding that the inflationary status of the country is not good considering the 4:10% rate. He therefore urged colleagues to be mindful of such a critical matter for the benefit of our children unborn. But APC’s Moses Sesay said that considering the 11 years’ war which has led to the backwardness of the country, government needs loans or grant from donors in order to sustain the our economic growth to help promote good governance for the benefit of every Sierra Leonean.

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