By Emma Black
A delegation from the United Nations Development Programme (UNDP) National Assessment for credit Rating, preparations, consultations, and Capacity-Building Mission paid a courtesy call to Financial Secretary Matthew Dingie at his George Street office in Freetown on Monday, June 16, 2025, the visit marks a pivotal moment in Sierra Leone’s efforts to enhance its economic credibility.
Welcoming the team, Dingie, on behalf of the Ministry of Finance leadership, expressed enthusiasm for the mission’s goal of preparing the government for a national credit rating, he outlined the current extended credit facility programme with the International Monetary Fund (IMF), noting the government’s policy to limit borrowing to concessional levels due to the country’s debt situation, ensuring sustainability within acceptable thresholds, we are keen to understand our credit rating status, Dingie said, as it will shape our roadmap for public financial Management reforms, particularly debt management.
Mathew Sandy, Director of the Public Debt Division, revealed that Sierra Leone initiated the credit rating process five years ago, but it was paused due to economic disruptions from the COVID-19 pandemic. With recent improvements in key indicators like inflation and exchange rates, he expressed optimism about resuming this critical assessment.
UNDP Africa Chief Economist Raymond Gilpin introduced an innovative capacity-building approach, focusing on mentorship rather than workshops, to guide African nations through the process and enhance data understanding. UNDP Concilium Adviser Relvin Dalrymple detailed the rating’s scope, covering the economy, governance, debt, revenue, and expenditures.
The mission includes experts from the Ministry of Finance’s Public Debt Management Division, Budget Bureau, Fiscal Risk, Accountant General’s Department, Micro-Fiscal and Research, Bank of Sierra Leone, Statistics Sierra Leone, and the National Minerals Agency, signaling a collaborative push toward economic stability.
Copyright –Published in Expo Times News on Wednesday, 18th June, 2025 (ExpoTimes News – Expo Media Group (expomediasl.com)
