Sierra Leone Bank Governor Blunders Again Gives Field Day to USD Black Marketers
Some people in and out of Sierra Leone say the financial woes the country is currently going through can be salvaged if and only when President Bio shows Prof. Kallon the exit door for someone more qualified and experienced to try a hand at correcting Prof. Kallon’s miserable and unfortunate blunders especially when he is accused of conniving with foreign currency black marketers by shoving tens of thousands of US Dollars to commercial banks which are complicit with US Dollar black marketers to resell the US Dollars and make the situation worse. They argue that such act or decision simply points to the suspicion that the Bank Governor could be conniving or aiding and abetting black marketers.
The Governor, Bank of Sierra Leone, Prof. Kallon is reportedly printing billions of more Leone currency notes, to flood the country, despite the rising hike in the price of basic food and commodities. In other words, he seems to enjoy implementing all the wrong policies which determine a country’s economy whether it be for good or bad.
The Bank Governor of Sierra Leone, Prof. Kallon knows full well that a country running an Austerity Budget cannot afford to; or be able to survive when he keeps on auctioning US dollars. He should also know that imposing cash withdrawal restrictions informs that the country’s economy is falling apart.
Since the economy and the rate of inflation started getting worse in Sierra Leone, there has been a hue and cry in the country and in the Diaspora, for President Bio to save the country’s economy from further deterioration or destruction by getting rid of the current Governor of the Bank of Sierra Leone, Prof. Kallon, who they describe as a “classroom economist and a classroom banker who has never tried working or doing practical things as concern financial institutions.”
Some people who arrived recently from the USA and who know Professor Kallon, confirmed that ever since they have known him in the USA, he has never once in his life gained any practical experience at any financial institutions but has spent his whole life lecturing in second rate community colleges in that country.
They added that it is therefore very unfortunate and detrimental for the country to have a Bank Governor who is so complacent and ignorant about what is expected of him as the Central Bank Governor, to the point that, he recently and shamelessly admitted failure at his job when he announced to the nation over Radio Democracy 98.1FM that “there is no money in the banks,” without giving any serious explanation as to how and why it came to a point that there is no money in the bank to service the people who had placed their money in the banks in the first place.
“There are a lot of professional and very well experienced Sierra Leoneans who if only they are given the opportunity can bring back this country’s economy and economic calamity it has been experience since Prof. Kallon was appointed Bank Governor back to normality and sanity to the expectation of President Bio and the people of Sierra Leone.
According to them, the financial woes the country is currently going through can be salvaged if and only when President Bio shows Prof. Kallon the exit door for someone more qualified and experienced to try a hand at correcting Prof. Kallon’s miserable and unfortunate blunders especially when he was at a time, just shoving tens of thousands of US Dollars to the commercial which were simply conniving with US Dollar black marketers to resell the US Dollars and make the situation worse.
“Such a man who makes such financial and economical blunders does not deserve to be on the seat he is occupying and we consider his continuous occupation of that seat a slap and an insult to Sierra Leoneans who know better,” said an angry Sierra Leonean who has lived in the US for two decades but was here on holiday.
The Bank Governor knows full well that a country running an Austerity Budget cannot afford to; or be able to survive when he keeps on auctioning US dollars. He should also know that imposing cash withdrawal restrictions informs that the country’s economy is falling apart.
Yet, Prof. Kallon keeps on printing more currency notes despite the rising hike in the price of basic food and commodities. In other words, he seems to enjoy implementing all the wrong policies which determine a country’s economy whether it be for good or bad.
Meanwhile, there is still shortage of Leones in the currently while the Bank Governor continues to keep sealed lips over the issue.
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