By Donstance Koroma
The National Publicity Secretary of All People’s Congress (APC) has on numerous occasions called for national stakeholders to assemble for a national discussion on the country’s economy, noting that the country’s most pressing issue at present is the economy.
“As much as we had and continue to have discussions on topical issues, the party is of the strongest opinion that a national discussion on the country’s economy should be now” Sidi Yaya Tunis.
Yaya Tunis continued that as of last December, when the 2024 budget was presented to Parliament, the Minister of Finance could not answer how the national currency can be protected against foreign currencies.
The minister projected that 2025 a hundred US dollars would be equivalent to Three Thousand Two Hundred New Leones, the National Publicity Secretary recalled.
“ This projection indicated that the surety of the Leones continuous depreciation glaring” Tunis said.
Because the SLPP government is not exporting enough, it has resulted in quick fixes by paying so much attention to lodgings, causing the multiplication of environmental issues, he said. After years wasted without quick fixes, Tunis said, they have come to the realization that such quick fixes are far from being sustainable.
Our economy is in bad shape, so the prices of essential commodities are rising, he said. How many citizens can afford to buy a bag of rice at the current market price, he asked? “In Sierra Leone, a civil servant’s minimum wage can’t buy him a bag of rice,” Sidi Yaya Tunis said.
The National Publicity Secretary All People’s Congress (APC) furthered that electricity bills are high, noting that in 2018, a hundred thousand Leone of Electricity Distribution and Supply Authority ( EDSA) credit would give you 53 units; today, he continued, the same amount of money would only give you 12 units.
In the wake of President Bio’s administration, the electricity tariff for the Turkish Karpowership was high. They negotiated with the ship’s management, and the tariff was reduced, he said.
In return, he stated that the SLPP government increased the electricity tariff for its citizens instead of decreasing it.
This prompted the APC National Publicity Secretary to ask what was happening with the Karpowership.
Is somebody mismanaging the money citizens are paying for tariffs, or is the money not enough to pay for the Turkish ship, or is somebody deliberately refusing to pay Karpowership?
Tariffs for mobile phone data in a similar situation, hence making communication very difficult, revealing that Sierra Leone has become an unaffordable country.
“ The country revenue streams has reduced and as such not getting so much from the mining sector, , not exporting much, therefore not enough revenue to address recurrent expenditures talkless of capital expenditures” Tunis said.
During our days in power, we were able to generate enough revenue to even take on infrastructural projects, citing the construction of all inner roads in Freetown and district Headquarters towns, which were done from revenue generated locally, Sidi Y. Tunis.
Sierra Leone economic indicators are clear, continuous inflation gripping the neck of citizens, no price control, depreciation of the Leones over foreign currencies continues to make matters worse for the nation, Tunis emphasized.
In the financial sector of the SLPP government, the centre can no longer hold as they continue to battle non-control over government expenses and expenditures, with revenue not forthcoming, resulting in indebtedness as a nation, he said.
He disclosed that the current Finance Act of 2024 has been regarded by the APC and business sector as a lubricant to further strengthen the business sector.
Our economy indicators are not favourable, justifying his claim with the latest International Monetary Fund review on Sierra Leone, he stressed and advising the government not to be in denial because the realities are speaking differently..
As the nation’s economic outlook goes ugly, which indicates worry signs loom, APC’s Deputy National Publicity Secretary Mohamed Pope Kamara has also been stimulated to speak on Sierra Leone’s burning issue, the economy.
“ I sometimes find it difficult to narrate the suffering of the people brought by the Bio government; that is why I sometimes find it very difficult,” Pope Kamara said.
He recalled that in 2022, the APC explained to the nation that in 2018, Dr. Ernest Bai Koroma, from 2007 to 2028, left an external debt of 4.99 trillion Leones in the country’s Consolidated Fund.
Under the Bio government, he continued, from 2018 to 2022, the country’s external debt stood at 30.71 trillion Leones, which he noted tripled the debt left by APC for ten years.
Sierra Leone can no longer meet its financial obligations as it stands, which Pope Kamara attributed to incompetence.
He said Bio’s government can’t breed a sense of development to motivate or improve citizens’ lives.
He revealed that in 2023, the government of Sierra Leone had to pay the World Bank 20.94 million dollars and the IMF 40.25 million dollars.
Last year, Pope revealed that the IMF also gave another loan of 459.6 million dollars.
“ We have a country heavily indebted and that if we are not careful as a country, we will stop receiving loans form the World Bank and the IMF” “ Kamara envisaged.
As a party, we fear that if the government continues to borrow in such a manner, no government in the coming 40 years will be able to reverse the said economic damages to these institutions, Pope said.
Because of the unrealistic policies driving revenue generation in the Bio government not yielding much as expected has forced the government resulting to more borrowing regardless of the country’s Inability to pay it’ debt, Pope said.
The National Revenue Authority, Queen Elizabeth Quay, he said, is paying more than what they can raise as salary simply because people who have no dealings in those government offices are still receiving salaries.
“Government must stop external borrowing,” he said.
Many SLPP faithful still believe that President Bio is a success. Yet, the people are dying from hunger, and the youth are becoming addicted to hard life. Dry bones are getting stronger, while the country’s resources are rotating among government ministers and party faithful. The majority of Sierra Leone, below the governance and party leather, continues to suffer.
