A recent survey carried out by the Institute for Governance Reforms (IGR) has found out that 87 percent of Sierra Leoneans are worried over the state of their country’s economy.
The survey proved that the local population is worried over the rising cost of living and inflation in the country.
Politico reported that the Executive Director of IGR, Andrew Lavali said 9 out of 10 Sierra Leoneans are concerned about the country’s economy.
IGR’s Executive Director said respondents in the survey amount to 1,200 and that they also made use of trend analysis used by Afrobarometer.
The survey also revealed that 72 percent of the local population believing that the country is heading for the wrong direction. This new figure negates with an earlier one (40 percent) which disapproved the manner in which the Bio Administration was running the country with regards the economy.
This perception is said to be among the worst. However, most Sierra Leoneans also held similar perceptions about the Koroma Administration in 2015 when Ebola struck. IGR said 80 percent of respondents at the time believed that the country was heading for the wrong direction.
Sierra Leone’s economy is currently performing poorly with authorities blaming the protracted effect of the war in Ukraine.
The West African nation continues to record inflation despite efforts by the Central Bank to cushion the effects.
In 2022, the Central Bank announced that the local currency will be re-denominated. The country slashed off three zeros but the value remained the same.
Critics said that the effects of removing the ‘zeros of shame’ has little effect on the economy.
Forbes Magazine said the Leones is the “fourth weakest currency in the world”.
Meanwhile, the old currency is still in circulation and a legal tender with authorities pushing the deadline twice with the more recent being 31st March, 2023.