It is the view of Prince Jacob Macauley who is regarded as one of Sierra Leone’s finest economists and programmer that the SLPP led Government under the leadership of President Julius Maada Bio is on the right track in terms of enhancing economic, infrastructural, institutional and social growth in Sierra Leone.
He furthered that the Minister and Deputy Minister of Finance are doing well in trying to restore once again Sierra Leone’s credibility within the international community and in the eyes of donor partners. “I want Government to concentrate on state owned entities to boost the economy and also help reduce the Forex rate as well as to enable the Leone appreciate against the dollar and sterling,” he stated .
He argued that since 2014 the Sierra Leone economy was hit by paralysis adding that the fraudulent activities of African Minerals owners and stakeholders, major employers at the time, resulted in the London stock market relegating them to junk status. He again noted how the fall in the price of iron ore in the world market and the Ebola outbreak caused a serious shutdown strangulated the whole country’s economy.
Prince Jacob pointed out that the biggest risk facing the country’s economy is the external debt the Sierra Leone Government has incurred.
“As an economist I am still calling on the Government to look at the various contracts that were awarded by the previous Government to the Chinese Government and some Chinese companies operating in the country,” he maintained.
He said the “New Direction” free quality education, the Government’s Flagship programme introduced last year after the SLPP first four months in office, is a laudable initiative. He concluded that thorough and inclusive consultations need to be undertaken and a roadmap designed for the next ten years.
