By Kadijatu Bangura, Reporter, Daily Scope
On April 22, 2025, Hon. Ibrahim Tawa Conteh, Deputy Speaker and Chairman of the Public Accounts Committee of Sierra Leone’s Parliament, met with the Legal Department of the International Monetary Fund (IMF) at its headquarters in Washington, DC. This high-level meeting was organized in collaboration with the IMF and The Parliamentary Network on The World Bank and International Monetary Fund.
The discussions centered around the pressing issue of debt transparency, which has gained urgency in light of soaring public debt and the reliance on complex, often opaque financing methods, such as collateralized borrowing and state-owned enterprise debt. Participants highlighted how the lack of transparency is undermining effective debt management, creating a cycle of limited accountability, and hindering public financial management. These issues increase the risk of circumventing fiscal rules and misallocating public funds.
Enhancing public debt transparency is vital for effective debt management, guiding sound economic policy, facilitating access to global capital, and fostering macroeconomic growth. Oversight bodies, particularly legislative committees like the Public Accounts Committee, are essential for promoting transparency in this arena.
During the meeting, participants exchanged insights on how legislatures can improve their oversight of debt throughout the budget cycle. This includes ensuring access to confidential information and approving borrowing operations, with a focus on enhancing coordination between legislative bodies and debt management offices to facilitate a more effective flow of information.
Since assuming his role as Deputy Speaker and Chairman of the Public Accounts Committee, Hon. Ibrahim Tawa Conteh has bolstered public confidence in the committee’s operations, recovering over 30 billion Old Leone owed to the Government and People of Sierra Leone. These funds support critical policy initiatives and development programs championed by President Julius Maada Bio.
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