Sierra Leone’s Foreign Debt Rises to $1.1Billion
Sierra Leone`s external debts now stands for at $1.1billion, according to the Ministry of Finance and Economic Development. Mr Sahr Jusu, Director of Public Debts Management, said Wednesday this figures was accrued over the last 30 years, and owed to major agencies such as the World Bank, IMF and AfDB.
He did not say specifically which institution is owed, what amount and whether the amount was part of the loans forgiven or written off against Sierra Leone.
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Mr Jusu said Sierra Leone was in moderate risk, as per the categorization of risk level in debts sustainability.
We have come together to look at the outlook of the public debt situation in the next three to four years and see how it can be sustainable, he told a radio breakfast programme.
A Debt Sustainability Review of 2014 also showed that Sierra Leone debts represented 45 percent of Gross Domestic Product (GDP), with a threshold of 15 percent.