By Pasco Temple
I don’t normally respond to opinions of people whose writings are not only very long and tedious, but also characterized by little wits.
Mahmud Tim Kargbo and his likes need to know some common facts of the World Bank and International Monetary Fund (IMF): “they are owned and directed by the governments of member nations including Sierra Leone. That is why in spite of change in Governments the membership stays. Secondly, Poverty can never be eradicated. Poverty is a relative term.
Almost every Country on earth including Sierra Leone is a member of both institutions.
The two of them concern themselves with economic issues, and are focused on broadening and Strengthening the economies of their member nations.
With their headquarters in Washington DC USA, they hold joint annual meetings, share joint task forces, sessions and research efforts.
It is important for you Mahmoud Tim Kargbo and your likes to know that “Each has a different purpose, a distinct structure, receives its funding from different sources, assists different categories of members, and strives to achieve distinct goals through methods peculiar to itself. Said” David D. Driscoll. You are purporting to be a researcher- these are common facts you should know.
Most importantly, these institutions are manned by some of the world’s re-known economists with integrity and substance including Sierra Leoneans- and it is imperative for you to know that it is totally impossible for poverty to be eradicated, it can only be reduced. Do the searching—bro.
So, contrary to the thinking of you and your cohorts, these institutions are bigger and more realistic than the figment of your imaginations.
After careful and diligent Audit, consideration, assessments and evaluation, Sierra Leone’s financial activities was rated “successful”. There are some Countries Which Government’s failed.
According to the assessment report, “Sierra Leone met all its quantitative Benchmarks by successfully delivering in the areas of structural reforms, Tax policies, Public financial Management and Fiscal Revenue Reforms in the monetary sector” Also on track are activities and operations of the Central Bank.
Offices now have Computers and Desks and not type writers. There is modernization in most places of work. Salary increase, improvements of Roads, Goods and services etc. Sure, there are grey areas, where the government needs to do more. As a citizen I know that.
Contrary to your shallow views on export, Sierra Leone presently has no major export. The prices of Iron ore and its demand have fallen sharply to its lowest ebb. Do you know the functions of the Central Bank? Have we any bank closure in recent times? The Central Bank in nine years has been under the control of experts with very sound policies. Every employee of government has been receiving pay promptly at the end of every month – Governors of Central Bank of recent past are Dr. Sheku Samba Deen, with immense experience from African Development Bank (ADB) a major contributor to West Africa Single Currency, Dr. M.W Samurah Kamara, Foreign Affairs Minister who has worked at the World Bank, IMF, ADB and at our Finance Ministry at different levels before becoming a Governor. Mr. Momodu Kargbo the Present Minister of Finance who not only worked as a business executive for established institutions, but also worked at the cooperative bank in Sierra Leone and now Dr. Kaifala Marah who was in charge of the Macro Economics as Finance Minister. It is important to note that Dr. Kaifala Marah the present Central Bank Governor was the chairman of the under developed Countries (g7+) and he was in charge of the finances and economy of our Country during the Ebola crises. He served as Chief of Staff to the President and worked at the Commonwealth secretariat.
So Mahmoud Tim Kargbo, please be specific and pin-point where the central bank has gone wrong, to help right the wrongs and stop playing on issues like a “ping – pong – ball”. Very small percent of Diamonds, gold, and rutile exports are also contributing their fair share to the economy.
Mahmoud Tim kargbo, your projections of the economy are very ingenuous because you failed to make mention of the parameters used to make your assessment and you also failed to give examples of similar measures by any Country that has led to a failure. I can give you the name of a Country, where such measures have improved the living conditions of People Zambia.
Mahmoud Tim Kargbo you are wrong in comparing the late President Ahmad Tejan Kabbah and President Ernest Bai Koroma. The two governments did not operate with the same dynamics. A grade eight (8) teacher used to earn Two hundred and seventy-Eight Thousand Leones (Le278.000.00) in 2008: now the teacher earns about Seven Hundred Thousand or more Leones (Le700,000,00), please compare the past and present wages of a Nurse, but unfortunately, perhaps you have not worked for any government institution, so you could hardly measure: but even if you do, please do more reading —
Again, your take on loan conditions from the IMF/World bank exposes your bigotry about issues and in particular LOAN. A Junior Secondary School(JSS3) student can tell you that loans come with conditions. You can figure it out. It’s a matter of choice. A local money lender can loan one Pound for One Pound Five (#1.00 for #1:50). Come on bro—
Every loan comes with trust, credibility, integrity and interest: even at the commercial bank level, an applicant must go through due process, tested and proven as a prerequisite to any amount of money to be given as a loan. The Ernest Bai Koroma government has what it takes to qualify for grant and loans. In the case of the World Bank/IMF, the loan is released in tranches- that is: after the fulfilment of specific benchmarks. For example, if a loan is applied for Twenty Million Dollars to construct a College, the first set of money that will be released will go for designing and initial civil works: after inspection and certification, another process will follow to release the second tranche etc. until the final stage. So it’s not like the way you think.
The men and women who represents Sierra Leone in these august bodies are highly educated and are professionals. Stop doing disservice to them. If you intend taking up issues bring the issues and stop perambulating over them.