In a fiery critique during the FY2025 National Budget debate, Sierra Leone’s Leader of the Opposition, Hon. Abdul Kargbo, delivered a blistering indictment of the ruling Sierra Leone People’s Party (SLPP) government’s financial mismanagement. Accusing the SLPP of reckless borrowing and fiscal irresponsibility, Hon. Kargbo warned of dire consequences for Sierra Leone’s economic future.
“When the SLPP took office in 2018, they wailed about inheriting a broken system and unsustainable debt from the APC. But the numbers tell a different story,” Hon. Kargbo charged. “Over ten years, the APC accumulated 15 trillion Old Leones. In just six years, the SLPP has racked up 34 trillion Old Leones—more than double the debt in half the time.”
The staggering pace of borrowing under the SLPP has alarmed many, with Hon. Kargbo predicting a catastrophic financial trajectory if the trend continues. “At this rate, the SLPP risks crippling Sierra Leone for generations,” he cautioned.
Hon. Kargbo also condemned the SLPP’s haphazard budgetary practices, citing significant disparities in the allocation and disbursement of funds to Ministries, Departments, and Agencies (MDAs). While some MDAs receive over 150% of their allocated funds, others languish with just 70%.
“This gross inconsistency breeds inefficiency and opens the floodgates to corruption,” he said. “How can we ensure accountability when the government itself undermines fiscal discipline?”
Adding to his criticism, the Opposition Leader highlighted the sharp depreciation of the Leone, which he labeled an economic disaster. He noted that Sierra Leone’s currency, once on par with neighboring nations, has sunk to unprecedented lows.
“In 2018, 100 Leones could fetch 150 Guinean Francs. Today, that same 100 Leones is worth less than 30 Francs,” Hon. Kargbo said. “This is the first time in our history that Guinea’s currency has overtaken ours. This collapse is strangling businesses and crushing the purchasing power of ordinary Sierra Leoneans.
”Hon. Kargbo urged the SLPP to halt its unsustainable borrowing practices, address inflation, and stabilize the economy. He called for bipartisan efforts to rescue Sierra Leone from the brink of economic disaster.
“The blame game won’t save this nation. What Sierra Leone needs is responsible governance, fiscal discipline, and a commitment to real solutions,” he said.
Hon. Kargbo’s scathing analysis lays bare the economic challenges facing Sierra Leone under the SLPP. As the budget debate continues, his warnings echo a growing demand for accountability and leadership that prioritizes the nation’s future over political expediency.
The question now is whether the SLPP will heed the warnings or continue down a path that, according to Hon. Kargbo, threatens to plunge Sierra Leone into financial ruin.
