-APC MP tells President Bio
The main opposition, All People’s Congress (APC) Member of Parliament, Hon. Sorie Koroma, has urged President Julius Maada Bio to declare austerity, as the country is currently gripped in financial difficulties.
During a TV interview with AYV, Hon. Sorie Koroma said that President Bio’s administration needs to act responsibly in spending taxpayers’ resources, considering the current state of the economy.
“Government has to be responsible with the people’s monies,” he said. “All of these loans that government takes is the money of the people, and when this government exits, the loans will still be there and they will be borne by the next government.”
Hon. Koroma affirmed that Bio’s administration is scared to declare austerity, due to the negative connotation they have attributed to it.
“Austerity cannot be a bad word,” he said, adding that the term signifies government cutting down on unnecessary expenditures in a bid to cushion the economy.
The concept of austerity gained prominence in Sierra Leone following the Ebola outbreak, which had a significant impact on the nation’s economy. Coupled with the decline in iron ore prices, these challenges prompted the Ernest Bai Koroma administration to implement austerity measures aimed at stabilizing the economy and fostering recovery.
The country has faced challenges in restoring its GDP growth trajectory since 2016, primarily due to the rising cost of living. However, these challenges present opportunities for innovative solutions that can improve the economic landscape and support the local population.
Despite the government’s efforts to implement various strategies aimed at alleviating hunger, the West African nation continues to face challenges. Independent international organizations such as the World Hunger Index have highlighted the ongoing struggle with food insecurity. However, these obstacles present an opportunity for further collaboration and innovative solutions to improve the situation and enhance food security in the region.