Agenda for Prosperity Collapses... APC GOVT OWES 111 BILLION IN ARREARS

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Citizen Budget Watch Sierra Leone, a reputable civil society organization in Sierra Leone has slammed the government of Sierra Leone for what it's described as the abysmal failure of the Agenda For Prosperity.
"In the first three month of FY 2017, arrears payment has increased significantly to Le111.788 billion this continues to diminish domestic supplier confidence and further ruining the working capital of these businesses as much needed working capital is locked idle."
They furthered that as such, corruption and cut-throat lobbying amongst domestic suppliers is necessitated thereby conflicting with the purpose of the 29th May 2017 Development Finance Forum organised by World Bank Group in order to unlock finance for private sectors and SMEs and crowd-in investment in the country. 
The report also stated that the current inflation rate stands at 19.80% which is one of the worst in the Sub-Region and may increase 23.34% by the end of June and 25.75% in July if the Government implements the toll on the Wellington-Miasaka Road.
Giving detailed analyses of the inflation rate, Citizen Budget Watch Sierra Leone said that the high inflation rate for the month of April and May means that prices of commodities that have already gone up, will be doubled, thereby inflicting more suffering on the ordinary people of Sierra Leone.
"As the exchange rate pressure remains unabated, the Leone continues to depreciate against foreign currencies especially the USD (depreciated by 28.73% December, 2016), so also the inflation rate continues to sky rocket with its devastating effects on the lives of the ordinary Sierra Leonean," Citizen Budget Watch emphasized.
 Director of Citizens Budget Watch, LaminVanna reaffirmed that the linchpin of the economy is out of order, and fixing this economy now under the present spending pattern of government is like "having a cold day in hell"
MDAs across the country are grumbling over the fact they have not received any money from the government to run their different offices just because the government is currently cash-strapped.
However, just last week, the International Monetary Fund (IMF) announced a credit facility agreement $224. 4 Million as support to important policies targeted at reducing inflation and significantly increasing domestic revenue.
The Government of Sierra Leone, according Financial Experts at the Ministry of Finance and Economic Development is expected to receive $54, 4 Million by the end of June to ensure that it reduced inflation to 12%.        

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