By Fatima Kpaka
Washington, DC—In a significant step towards promoting debt transparency, Hon. Ibrahim Tawa Conteh, Deputy Speaker of Sierra Leone’s Parliament and Chairman of the Public Accounts Committee, met with the International Monetary Fund (IMF) Legal Department on Tuesday, April 22, 2025, at the IMF headquarters in Washington, DC. The meeting was part of a high-level gathering organized by the IMF and The Parliamentary Network on The World Bank and International Monetary Fund.
The discussions centered on the growing importance of debt transparency, especially in light of rising public debt and increasingly complex financing mechanisms such as collateralized borrowing and state-owned enterprise debt. Lack of transparency in these areas has exacerbated challenges in public financial management, creating a cycle of limited accountability and the diversion of public funds. Participants emphasized the urgency of enhancing public debt transparency as a means to improve debt management, guide sound economic policy, facilitate access to global capital, foster macroeconomic growth, and expedite debt resolution.
Legislative oversight bodies, such as the Public Accounts Committee, were highlighted as critical to promoting accountability and transparency throughout the budget cycle. Attendees shared insights on how legislatures can improve oversight of debt by accessing confidential information, approving borrowing operations, and strengthening coordination with debt management offices to ensure an effective flow of information.
Hon. Ibrahim Tawa Conteh’s leadership has bolstered public confidence in the Public Accounts Committee. Under his guidance, the Committee has recovered over 30 billion Old Leone owed to the Government and People of Sierra Leone, contributing to policy initiatives and national development programs championed by President Dr. Julius Maada Bio.
The meeting underscored the need for global collaboration in addressing public debt challenges and the role of legislatures in ensuring fiscal responsibility. Hon. Ibrahim Tawa Conteh’s participation not only showcases Sierra Leone’s commitment to enhancing transparency but also cements its active role in fostering international economic accountability.