Public Debt Management Act, 2011
An Act providing for the management of the public debt of Sierra Leone and the control of government borrowing and guarantees.
Summary
The Public Debt Management Act, 2011 provides a framework for the management of Sierra Leone's public debt and for the control of government borrowing and the issue of guarantees. It aims to keep public debt sustainable and borrowing transparent and well managed.
The Act provides for the authority to borrow and to issue government securities and guarantees, the purposes for which borrowing may be undertaken, limits and approvals, and the arrangements for recording, servicing and reporting on the public debt. It provides for a debt-management function within the Ministry of Finance and for accountability to Parliament, supporting sound fiscal and debt management.
Main provisions
- Provides the authority and framework for government borrowing.
- Provides for the issue of government securities and guarantees.
- Sets purposes, limits and approvals for borrowing.
- Provides for recording, servicing and reporting of public debt.
- Provides for a debt-management function and accountability to Parliament.
- Aims to keep public debt sustainable.