Ministry of Finance Engages Commercial Banks on Medium-Term Debt Strategy Implementation

The Ministry of Finance, through its Public Debt Management Division, held a key engagement with commercial banks and the Bank of Sierra Leone on October 1, 2024, to discuss the implementation of the Medium-Term Debt Strategy (MTDS) 2023-2027.

Acting Minister of Finance, Madam Kadiatu Allie, emphasized the importance of collaboration between the government and financial institutions in addressing domestic debt challenges.

Matthew Sandy, Director of Public Debt Management, highlighted that this is Sierra Leone’s fourth MTDS and the first locally developed version.

The strategy aims to reduce the cost and risks of the country’s debt portfolio, improve market transparency, and provide clear guidance for financial institutions.

He also noted improved macroeconomic conditions, with inflation dropping to 25.49% and projected GDP growth of 4.0% in 2024.

The banks welcomed the engagement, expressing gratitude for the insights provided, which will guide their strategic investments and strengthen partnerships with the government.

The session marked a significant step in ensuring successful MTDS implementation.