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After all, if every economic issue is framed as a struggle between a hard-working white middle class and undeserving minorities, then workers of all shades will be left fighting for scraps while the wealthy withdraw further into their private enclaves - Barack Obama

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KL
Reply with quote  #1 
You can't talk the talk but can't walk the walk. 

https://www.thesierraleonetelegraph.com/sierra-leones-finance-minister-fights-for-his-job-amid-serious-economic-malaise/
From Facebook
Reply with quote  #2 

John Leigh I have been telling Slppers the same thing since 2001 and the rest of the country about the evils of mendecracy since March 2012.

Since 2008, I have repeatedly told the public about Bio’s evil despotic attitudes and record.


Fortunately, the rest of the world eventually believed my analysis of the AFRC/RUF/NPFL/CHARLES TAYLOR war against the people of Sierra Leone as a fake civil war staged by unemployed politician types to undemocratically usurp unelected power; aided by criminals to loot SL’s natural resources; and which war degenerated into general looting against property and unspeakable violence against females and everyday innocent people and bystanders.




I correctly explained the secret role of Bio and the public role of Dr. Abass Bundu in aiding those dastardly efforts against our people and country for their own personal benefits.

But in-country, the combination of evil tribal loyalty blood; the wanton craving for power & illicit wealth plus our horrible macho attitudes towards females have so far proved to be more powerful forces than the simple truth. Unfortunately, we now have no choice but to learn the hard, slow way. Hope the lessons learned will be put to the beneficial use for our people and country.
kamara
Reply with quote  #3 
KL, It takes years before a nation sees the benefits of macro economic policies. A sound economy cannot be achieved overnight. Sierra Leone had to put an end to the looting of the criminal APC government.

The first step was to end the blatant corruption. After that, the government has to attract meaningful investment to the country. I assume Bio is trying to do that in  his multiple trips abroad.

Finally , the Government needs  seasoned and experienced financial experts in the ministries affecting the economy. I do not know saffa Jusu's experience.

What ideas do you and the opposition have in mind to improve the economy?

I hope that you do not want to back to the corrupt policies of APC. 


Sore Loser
Reply with quote  #4 
"I have been telling Slppers the same thing since 2001 and the rest of the country about the evils of mendecracy since March 2012. 

Since 2008, I have repeatedly told the public about Bio’s evil despotic attitudes and record."  John Leigh


At the late age of 80 all hope seems to be lost.  So, John Ernest Leigh must continue to hold on to the rope of tribalism until he slips into his final resting place.   This fellow can be the grand parent of many in power today but foolishness and childishness continue to be the main traits of a wasted life.  Didn't he brag a few years ago that he will haunt the SLPP and ensure that the party remained in opposition forever?  How come the SLPP won?  So, how come the APC never treated him seriously?   Bo leh di boggedor go sidom nar corner ya. 
Tunde Alamo
Reply with quote  #5 
Loggy,

Your headline is captioned "time is running out".  What time is running out?  Running out of what?
Newsman
Reply with quote  #6 
Quote:
Originally Posted by Sore Loser
"I have been telling Slppers the same thing since 2001 and the rest of the country about the evils of mendecracy since March 2012. 

Since 2008, I have repeatedly told the public about Bio’s evil despotic attitudes and record."  John Leigh


At the late age of 80 all hope seems to be lost.  So, John Ernest Leigh must continue to hold on to the rope of tribalism until he slips into his final resting place.   This fellow can be the grand parent of many in power today but foolishness and childishness continue to be the main traits of a wasted life.  Didn't he brag a few years ago that he will haunt the SLPP and ensure that the party remained in opposition forever?  How come the SLPP won?  So, how come the APC never treated him seriously?   Bo leh di boggedor go sidom nar corner ya. 

What  has John Leigh done to most of you that week in and week out he gets to be bashed by some sycophants on this Forum? 
Leave the man alone as the obsession is becoming abnormal like some of you.
Plain Simple
Reply with quote  #7 
Newsman,

Are you John Leigh's spokesman or lawyer?   Sore Loser was responding to something that John Leigh wrote.  What is wrong with that?  If John Leigh puts himself out there especially by using tribalism to criticize the present government in Sierra Leone, then his RED APC LAIMPAY deserves to be battered beyond repairs.  It is that plain simple.
kamara
Reply with quote  #8 
John Leigh is is irrelevant in this discussion. Let him enjoy his retirement. He had his chances; he was not voted President. SLPP gave him the opportunity; he turned against SLPP towards APC. APC was smart enough to know that he was trouble, a wannabe krio tribalist; they gave him nothing.

Yes, Bio has to be deliver on the economy or at least to explain his economic plans and his short term successes to the desperate masses. Leave the foreign travel to your ministers.  
KL
Reply with quote  #9 
As stated by OrKama:
"Yes, Bio has to be deliver on the economy or at least to explain
his economic plans and his short term successes to the desperate
masses."

OrKama you are getting there, bro! It probably going to take some time but you really are getting closer by the day.[rolleyes][rolleyes][rolleyes][rolleyes]

Indeed it takes years to benefit from macro economic policies. Successful leaders, however, usually employs ways in fragmenting their policies. They do so by mixing up short-term, mid-term and long-term plans. The bridge to nowhere and the not-so-free education could have been executed with a short-term plan like to immediately bring food to the table. You and I may care less about the BIG kahuna, Ernest Koroma, but a short-term plan of improving road conditions was a good one. Foreign exchange was not as bad as it is now. When people can see and touch things, they can be easily convinced to give you their support. Show me one thing that Bio have done, to this point, that you or the Salone people can give him credit for. May be spending more time outside of the country just to return with nothing, at least, for the short-term progress of the country. Wonder why the loud mouth and incompetent finance minister is in trouble and may soon become a free agent?

Political Scientist
Reply with quote  #10 

"Show me one thing that Bio have done, to this point, that you or the Salone people can give him credit for."  KL



1.  President Bio successfully negotiated the return to Salone of our development partners - the IMF and the World Bank.  They had left because of overt corruption under EBK and the APC.

2.  President Bio instituted the Commissions of Inquiry to investigate overt corruption and impunity in Sierra Leone under Ernest Koroma.

3. President Bio revamped a moribund Anti-Corruption Commission.  The Commission has since recovered billions of Leones from folks associated with Ernest Koroma and the APC.

4.  With the economy hanging on a cliff, Bio got the IMF to approve $172.1 million arrangement under the extended credit facility.  The IMF had earlier refused to extend this credit to the APC government due to corruption.

5.  President Bio launched the free and quality education program in August 2018.  This program benefits over 1 million students.  Also, students studying the sciences and mathematics at the public universities now do so tuition free.

6.  On November 6, 2018 during president Bio's visit to Brussels, Belgium, the European Commission and the Government of Sierra Leone launched new projects worth 108 million Euros aimed at supporting macroeconomic stability, government reforms, decentralization and regional competitiveness in Siera Leone. 

7.  Under president Bio, Sierra Leone has joined the Regional Off-Grid Electrification Project (ROGEP).  ROGEP is funded by the World Bank and the African Development Bank.  Its objective  is to increase electricity access of households, businesses and public institutions in West Africa using modern stand-alone solar systems through a harmonized regional approach.

8.  President Bio has approved funding for the construction of an ultra-modern campus for the Institute of Public Administration and Management (IPAM) of the University of Sierra Leone along the Freetown Peninsula. The Milton Margai College of Education and Technology is to be transformed into a University and so is the Eastern Polytechnic in Kenema.  Also, construction of the University of Science and Technology in Koidu is to be launched on August 16.

9.  President Bio has approved funding in the tune of $40 million for the renovation of four public secondary schools – the Prince of Wales Secondary School in Freetown, the Government Secondary School, Bo (Bo School), the Government Secondary School, Kenema, and the Government School, Magburaka.

10.  Construction of a hospital in Makeni and Kenema will soon commence.  And many of the roads and streets in Kenema have been rehabilitated under president Bio.

11.  Under president, the construction of the three-lane Sengbe Pieh bridge in Juba was completed in six months.  

12.  Renovation of Fourah Bay College is ongoing.

The foregoing is some of the achievements of Julius Maada Bio.  The man has done more in less than two years than Ernest Koroma in eleven years.

KL
Reply with quote  #11 
As stated by Political Scientist:

"The foregoing is some of the achievements of Julius Maada Bio. 
The man has done more in less than two years than Ernest Koroma
in eleven years."

Image result for the economy, stupid

When the thieving kahuna, in the name of Orbai Koroma, left office the exchange rate was Le.730 per $. Today, it is 1.5 million Le. per dollar. The loudmouth finance minister who once criticized the APC economy is in danger of losing his job. With all the so-called achievements of Julius Bio, ARE SIERRA LEONEANS BETTER OFF TODAY THAN THEY WERE TWO OR MORE YEARS AGO?
With all the god given water that showered Freetown, de gron still dry. Your response, polease!
Political Scientist
Reply with quote  #12 
KL,

Having a good debate requires certain responsibilities, paramount of which is honesty.  The spot exchange rate of the US dollar to the Leone is not $1 = Le 1.5 million as you stated.  Part of my day job involves dealing with currency exchanges.  So I know what I am talking about.  The exchange between the US dollar and the Leone as I write is $1 = Le 9,300.

Also, when the APC left office, the exchange rate was not $1 = Le 730 as you state.  It was $ 1 = Le 8,400.

While I agree that exchange rates are a critical determinant of economic performance, it can be argued that exchange rates can be influenced by exogenous factors to the economy like political change.  It is almost always the case that when there is political change especially in fragile nations, the exchange plummets.  But that does not necessarily mean that all other economic indicators will worsen.

I have always argued that we cannot all be partisan as that would not allow us to make observations of the objective reality of developments in our country.  Accordingly, personally, I have long determined that supporting any particular political party in Sierra Leone  makes little or no sense to me. 

The APC and SLPP have failed the country in various capacities and the NGC is full of egomaniacs who forced their way out of the APC and the SLPP simply because they could not have their way in those parties.

Thus, in my position of neutrality, I am more comfortable in ferreting out the truth from wherever it may be hiding.  You asked earlier about what president Bio has achieved and I gave you a list of some of the president's remarkable achievements in just 18 months in office.   It is important to note the significance of these achievements because they tell us what the young man is determined to do for his country.

Economists will tell you that major economic changes do not happen overnight.  It takes time for economic policies to have an impact on the economy because economic policies are constrained by time lags.  It follows that if we in Sierra Leone are complaining that di gron dry, then I wonder what Liberians would be saying with a rate of inflation at 29%  in Liberia versus Salone's 16%.

Look, all West Africa countries are in a current economic state of crisis.  The price level in Ghana is much higher than that in Salone and Ghana has a foreign debt of $29.1 billion.  Salone's foreign debt is below $2 billion.

Frankly, under the circumstances, the present government in Sierra Leone is doing well.  We have to give the government time to accomplish its objectives.  Firing the Minister of Finance or any other person in the administration, for that matter, is not going to be the solution to any problems facing the country at this time. 

KL
Reply with quote  #13 
First and foremost, I thank you for the seriousness you invested in this debate and I appreciate it.  After reviewing all the accomplishments you stated about this administration, I tied everything to burrowed monies and mostly from the IMF. It is not a secret that the IMF and it's loan conditions haven't been productive for Africa and Sierra Leone specifically. Yes it is true that previous administrations. including the SLPP, are equally responsible. But one good condition of the IMF loan conditions is to encourage private entities. So far, it appears that the government is more involved in spending loan monies on programs that may not bring enough returns which may end up in default of loan payments. Do you agree to this is where the government is heading?
Political Scientist
Reply with quote  #14 
"First and foremost, I thank you for the seriousness you invested in this debate and I appreciate it.  After reviewing all the accomplishments you stated about this administration, I tied everything to burrowed monies and mostly from the IMF."  KL


I am again appealing for fairness and honesty in this debate.  The Bio government launched the free and quality education program in August 2019.  It did not start holding serious talks with the IMF until October 2019.

How did the government finance the free quality education program?  Through improved domestic revenue mobilization.  How did this happen?  By firing the incompetent APC Commissioner of NRA and replacing her with a competent taxation economist. Consequently, the NRA now collects approximately $15 million dollars in taxes every week.  It is this revenue that the government uses to run the state.

It is also noteworthy that when the IMF disburses loan funds to government, not only are these disbursements made in small amounts but they are made to follow stringent IMF conditionalities.  So, it is impossible for the government to rely solely on IMF loans for the running of its programs.
KL
Reply with quote  #15 

How did the government finance the free quality education program?  Through improved domestic revenue mobilization.  How did this happen?  By firing the incompetent APC Commissioner of NRA and replacing her with a competent taxation economist. Consequently, the NRA now collects approximately $15 million dollars in taxes every week.  It is this revenue that the government uses to run the state.."

 

I am having a very difficult time making sense out of the above. First off, it is my understanding that support from donor partners like UK Aid, World Bank, Irish Aid, World Food Program and UNICEF are responsible for this so-called “quality education program”. How, all of a sudden, the government ends up financing it, among others, through a $15 million domestic revenue mobilization it collects every week?

 And that includes approved financing for the following?   Am I missing something here?

8.  President Bio has approved funding for the construction of an ultra-modern campus for the Institute of Public Administration and Management (IPAM) of the University of Sierra Leone along the Freetown Peninsula. The Milton Margai College of Education and Technology is to be transformed into a University and so is the Eastern Polytechnic in Kenema.  Also, construction of the University of Science and Technology in Koidu is to be launched on August 16.

9.  President Bio has approved funding in the tune of $40 million for the renovation of four public secondary schools – the Prince of Wales Secondary School in Freetown, the Government Secondary School, Bo (Bo School), the Government Secondary School, Kenema, and the Government School, Magburaka.

10.  Construction of a hospital in Makeni and Kenema will soon commence.  And many of the roads and streets in Kenema have been rehabilitated under president Bio.

11.  Under president, the construction of the three-lane Sengbe Pieh bridge in Juba was completed in six months.  

 

 

Political Scientist
Reply with quote  #16 
"I am having a very difficult time making sense out of the above. First off, it is my understanding that support from donor partners like UK Aid, World Bank, Irish Aid, World Food Program and UNICEF are responsible for this so-called “quality education program”. How, all of a sudden, the government ends up financing it, among others, through a $15 million domestic revenue mobilization it collects every week?"  KL


No country in the world can sustain itself by relying exclusively on donor aid.  The misconception that folks often have is that when a donor says its aid to country X last year was $20 million, it means that $20 million in cash was given to Country X.  That is not how donor agencies or development partners work.  Only a tiny fraction of the aid package may constitute cash.  The others may be technical or other type of help.  In fact on many occasions when cash is given by a donor agency, it is given to Non - Governmental Organizations (NGOs) operating in Country X.

So, my friend, whereas those agencies and development partners that you listed are helping Sierra Leone, their aid constitutes a very small fraction of our country's gross domestic product (GDP).  The government of Sierra Leone does the heavy lifting through domestic revenue mobilization and revenues from exports.

When the free quality education program was launched, it took quite some months before any donor agency made a donation.  They all wanted to see how the government would efficiently allocate its resources to accomplish the initiative.  So, instead of heaping praise on donor agencies for the success of a brilliant initiative, please congratulate the people and government of Sierra Leone for a work well done.  



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