Sierra Leone: Is the New Finance Minister the Answer?

Last week, President Bio appointed Deputy Finance Minister, Sheku Ahmed Fantamadi Bangura to replace Denis Vandy who has been regarded as the most sacked public official in the current government.

From a battered post Ebola economy to COVID-19 disruption and the Russia-Ukrain conflict, it has been a rough journey for the President who in the last election campaigns projected himself the quick fixer of Sierra Leone's decades' old economic quagmire. He severally lashed at his predecessor for failing to handle the high cost of living. But his regime has seen a more rising inflation and more diminishing purchasing power of citizens.

This was a report coming out four months after Bank of Sierra Leone had stripped off the last three zeros of the currency with a bogus hope that things could turn around. But inflation keeps rising and the value of the redenominated currency has drained excessively against the US dollar. Local markets are reeling due to soaring prices of food and other basic commodities, triggering unprecedented cost of living.

But as Deputy Finance Minister, Sheku Ahmed Fantamadi Bangura has been a key member of the team handling Sierra Leone's economy while the value of the country's currency speedily drains.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

International Finance: Asian stocks fall as hawkish Fed halts S&P’s rally: markets wrapAsian stocks fell on Tuesday after a rally in US shares evaporated as Federal Reserve officials signalled the central bank will likely need to raise interest rates above 5% before pausing and holding for some time.
Source: dailymaverick - 🏆 3. / 84 Read more »

Namibia: Finance Warns Sanitary Pad Tax ViolatorsTHE Ministry of Finance has warned retailers and wholesalers who still charge value added tax (VAT) on sanitary pads that they will be forced to refund customers or pay a fine of N$8 000 by court order.
Source: allafrica - 🏆 1. / 99 Read more »

International Finance: Stocks extend gains in Asia amid inflation focus: markets wrapEquities climbed in Asia on Wednesday, extending an advance seen on Wall Street as traders bet that the upcoming US consumer price index will show further softening.
Source: dailymaverick - 🏆 3. / 84 Read more »

Namibia: Tampons Are Luxury Items, Says Finance MinistryTHE finance ministry said tampons are not exempt from sales tax because they are considered to be luxury items.
Source: allafrica - 🏆 1. / 99 Read more »