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From ‘Vuvuzelers to Vampires’ – APC Depletes Salone Economy by 51%

From ‘Vuvuzelers to Vampires’ – APC Depletes Salone Economy by 51%

The recent report of the World Economic Watch Body – the International Monitory Fund (IMF) indicates that the Government of Sierra Leone is basking in vain glories. According to the IMF analysis, Sierra Leone’s economy actually depleted by 51% in 2009 due the poor economic performance as explained by the drop of the country’s Gross Domestic Product from 6.5% in 2007 to 3.2% in 2009. So underneath what we see as vuvuzela noises eulogising Ernest Koroma’s 36 months rule is a rule of vampires’ sucking the blood of the Sierra Leone economy

Economic development experts have attributed the dramatic economic decline to fiscal indiscipline and reckless spending by the Ministry of Finance on contracts such as purchase of US$5.0m arms and ammunition for SDD, payment of US$25m to Wanza, Income Electrix, printing of GST receipts and other bogus contracts. Experts argue that only uncontrolled spending by the central bank can drown an economy that was as hefty as having Le 550 billion of HIPC money and over US$400 for various development projects in 2007.

APC officials view the IMF press statement with grudge disapproval arguing that in the last three years the country has ‘turned-around’ for the best and that IMF figures are merely meant to support opposition propaganda.  They however blame Sierra Leone’s poor economic performance on the world financial crisis that is affecting all economies. But opposition leaders have dismissed Government claims as “all lies and a vain and self glorification of APC’s own work”. According to one SLPP aspirant Dr. Kadi Sesay, “although the world financial crisis hit all economies in 2008, prudent leaders in Africa, including Liberia that grew by 7.1%, Ghana 7.3% and even the Gambia 5.9% managed to maintain better growth patterns and did not barter their economies”.

It could be noted that the IMF press statement expressed grave concern over the extra budgetary expenditures carried out by Government. Sources close to the Mission said that Sierra Leone is under serious economic threat as the Government plan huge expenditure for the 50th Anniversary celebrations and 2012 elections. The mission observed that the authorities have been working under the mask of infrastructure to award contracts when there are no funds in the national kitty. Article IV of the economic consultation states that the mission was unable to see evidence of the much advertised $300 million received from the donors meeting in London in 2009.

James Baker

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  • The Economy was growing under SLPP and so on and so forth ,pipeline party .why did the people of SL voted you out ?because there is more growth in your pockets than the state coffers.

    We are concern but not carried away with economic growth figures.When SLPP was in power as you claim there was economics figure growth but they did not reflect in anyways in the social aspect of it citizens.Absolutely the infrastructure were tatered and dilapidated, the country was dark and people go to bed hungry . So we are not fools the international communitee knows that development don’t just come by . It involve a lot of expenses. Unlike SLPp the people of SL will tell why they are suffering because they are not blind they see the development drive EBK is taking . Right now SL is travelling with movement. When SLPP was in power we were travelling without moving at all. You will surely remain in the wilderness . preaching what you never practiced in the first place . Fool your people because they are the only ones that need’s reminding about your 11 years failure rule . Now you have reduce your party to sabotage party . Losing credibility as an opposition party. This is what am always talking about your arrogance which you show during your failed reign in power . Even now that you are busy spinning international institution information for the benefit of your followers the present government of EBK (God bless him)is busy receiving admiration and praises from all corners of the world for the gaint challenges he is taking for his country right now . SLPP looted SL donors money modern any government combined in the history of that country . Shame on you that instead of accepting the deliberate mistake or prejudice practices you implement in the country , you lot are busy fooling your people. Truly I believe not all of them will be fooled anymore . We need something to show for our devlopment not figure that you lot manupilated. Because they have eyes to tell the different between a spade and a shovel . If SLPP think they can manupilate EBK like they did to Tejan kabba then think again because EBK is a different BREED an our loyalty to his practical development thinking is not negiatable. How many cockroaches did SLPP catch during there campaign for corruption in Sierra Leone ? We are sensing the frustration and the reason for sabotaging the EBK regime because there are no new policies in the SLPP agenda. For SLPP 2012 is sacred because they want to unleash the dragon,kamajor and sobels . Well we are not troubled at all. We will contain them and business will be normall believe it or not it will be . Yes SL like all other African country we have the right to celebrate our 50th year of independence in grand style so if you want to use that as another set of sabotage we are not detered. Cheap opposition politics.

    26th September 2010
  • James Baker, You are nothing but a lier. Your figures about economic development in Siera Leone was a mere fogery by the hatred you have gotr against the ruling Government. Stop this propaganda campaign. Do you think you are the only individual that can forge such pecentages? Man go to hell.

    26th September 2010
  • Hi My Brother, you left the unnecessary travelling of the Ministers and their families behind. Parties from the Embassies abroad. This People are not sober at all. God save Salone.

    26th September 2010

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