Sierra Leone has been acknowledged for its significant progress in fiscal transparency, although it did not fully meet the minimum requirements set by the Department of State.

The Department’s Fiscal Transparency Report, mandated by Congress, evaluates countries based on their adherence to fiscal transparency standards and their efforts to make budget documents and government contracts publicly available.

Out of the 140 countries and the Palestinian Authority assessed in the report, Sierra Leone was among the 69 nations that did not meet the minimum fiscal transparency requirements. However, it is worth noting that Sierra Leone was recognized for its notable advancements in this area.

A total of 25 countries, including Sierra Leone, demonstrated significant progress toward meeting the minimum requirements of fiscal transparency during the review period of January 1 to December 31, 2022.

Fiscal transparency plays a crucial role in effective public financial management as it informs citizens about how government revenues are utilized. It fosters accountability, empowers citizens, and promotes market confidence and sustainability. The Fiscal Transparency Report serves as a tool to identify deficiencies in fiscal transparency and support necessary changes to enhance accountability and good governance.

The Office of Macroeconomic Affairs (OMA) within the Bureau of Economic and Business Affairs (EB) at the Department of State, in collaboration with the Bureau of Energy Resources (ENR) and the U.S. Agency for International Development (USAID), prepares the annual Fiscal Transparency Report.

This report evaluates the fiscal transparency data collected by U.S. diplomatic posts in 141 countries eligible to receive U.S. foreign assistance.

The governments of 72 countries were deemed to have met the minimum requirements of fiscal transparency for the year 2023. Notable among these countries are Argentina, Brazil, Colombia, India, Israel, Mexico, Nigeria, Peru, the Philippines, Thailand, Turkey, and Uruguay, among others. These governments have demonstrated a commitment to transparency by making key budget documents available to the public in a timely manner and adhering to transparent processes for awarding government contracts, particularly in the natural resource extraction sector.

While Sierra Leone may not have met the minimum requirements, its progress in fiscal transparency is commendable.