{"id":924,"date":"2024-10-02T18:24:25","date_gmt":"2024-10-02T18:24:25","guid":{"rendered":"https:\/\/vindicatorslnews.com\/?p=924"},"modified":"2024-10-02T18:24:27","modified_gmt":"2024-10-02T18:24:27","slug":"ministry-of-finance-engages-banks-on-medium-term-debt-strategy","status":"publish","type":"post","link":"https:\/\/vindicatorslnews.com\/?p=924","title":{"rendered":"Ministry of Finance Engages Banks on Medium-Term Debt Strategy"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/vindicatorslnews.com\/wp-content\/uploads\/2024\/10\/a81f7b1e-e10d-453c-b2b1-03a57cc9bd07-1024x768.jpg\" alt=\"\" class=\"wp-image-925\" style=\"width:454px;height:auto\" srcset=\"https:\/\/vindicatorslnews.com\/wp-content\/uploads\/2024\/10\/a81f7b1e-e10d-453c-b2b1-03a57cc9bd07-1024x768.jpg 1024w, https:\/\/vindicatorslnews.com\/wp-content\/uploads\/2024\/10\/a81f7b1e-e10d-453c-b2b1-03a57cc9bd07-300x225.jpg 300w, https:\/\/vindicatorslnews.com\/wp-content\/uploads\/2024\/10\/a81f7b1e-e10d-453c-b2b1-03a57cc9bd07-768x576.jpg 768w, https:\/\/vindicatorslnews.com\/wp-content\/uploads\/2024\/10\/a81f7b1e-e10d-453c-b2b1-03a57cc9bd07.jpg 1040w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>On Tuesday, October 1, 2024, the Ministry of Finance, through the Public Debt Management Division, engaged representatives from various commercial banks and the Bank of Sierra Leone to discuss the implementation of the Medium-Term Debt Strategy (MTDS) 2023-2027. The meeting took place at the Ministry of Finance conference hall on George Street, Freetown.<\/p>\n\n\n\n<p>In her statement, Acting Minister of Finance Madam Kadiatu Allie emphasized the government\u2019s commitment to collaborating with partners to address the country\u2019s debt situation and enhance economic stability. She highlighted the crucial role of banks in tackling domestic debt, which poses challenges for both the government and the private sector. Madam Allie encouraged banks to work alongside the government in executing the MTDS.<\/p>\n\n\n\n<p>Director of the Public Debt Management Division, Mathew Sandy, noted that this marks Sierra Leone&#8217;s fourth MTDS, developed through a participatory national workshop held from August 21 to 25, 2023. He described the updated MTDS 2023-2027 as a vital policy document outlining strategies and actions necessary to minimize the cost and risk associated with Sierra Leone\u2019s debt portfolio.<\/p>\n\n\n\n<p>Sandy emphasized that the Cabinet&#8217;s approval and the publication of the MTDS reflect the government\u2019s commitment to transparency in debt management. He stated that the MTDS would assist market participants\u2014such as commercial banks, discount houses, insurance companies, and mobile operators\u2014by informing them of the government\u2019s medium-term debt management objectives, which would guide their investment decisions and asset pricing.<\/p>\n\n\n\n<p>He further noted that the government is committed to transparent debt management by engaging relevant stakeholders in consultations about market development and debt management strategies.<\/p>\n\n\n\n<p>Sandy shared key statistics regarding the public debt: treasury bills make up approximately 22.56% of the total public debt stock, accounting for 72.64% of domestic debt. Domestic suppliers&#8217; arrears represent 2.04% of total debt, while multilateral debt constitutes 54.3% of the total public debt and 78.7% of the external debt portfolio. Bilateral debt accounts for 8.75% of total public debt and 12.7% of the external debt portfolio.<\/p>\n\n\n\n<p>He also highlighted significant improvements in macroeconomic fundamentals since 2022, including a decline in inflation from 52.16% in 2023 to 25.49% in August 2024, GDP growth reaching 3.4% in 2023, and projected real GDP growth of 4.0% in 2024.<\/p>\n\n\n\n<p>Following the discussion, bank representatives expressed their gratitude to the Ministry for the engagement, noting that it enhanced their understanding of the MTDS.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Tuesday, October 1, 2024, the Ministry of Finance, through the Public Debt Management Division,&#8230;<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-924","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/vindicatorslnews.com\/index.php?rest_route=\/wp\/v2\/posts\/924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vindicatorslnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vindicatorslnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vindicatorslnews.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/vindicatorslnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=924"}],"version-history":[{"count":1,"href":"https:\/\/vindicatorslnews.com\/index.php?rest_route=\/wp\/v2\/posts\/924\/revisions"}],"predecessor-version":[{"id":926,"href":"https:\/\/vindicatorslnews.com\/index.php?rest_route=\/wp\/v2\/posts\/924\/revisions\/926"}],"wp:attachment":[{"href":"https:\/\/vindicatorslnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vindicatorslnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vindicatorslnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}