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Page added on July 9, 2012
A request is pending for the sum of US$7,872,373.43 by the contractor, Angelique International Limited. Upon a reply sent in by the Bank of Sierra Leone on November 18, 2011 that cash flow was not enough to credit the requested sum and the entire project for the supply and installation of a solar street light system in the capital Freetown and 13 Districts across Sierra Leone has been in limbo.
The Director of Finance and Markets Departments Mr. I. K. Lamin wrote on November 18, 2011 informing the Contractor that payment for the solar project was included in the list of unprocessed pending payments, awaiting improvement in the fiscal position.
The letter states that the project was a new project that was not initially programmed in 2011’s foreign exchange cash flow and that the unprocessed pending payments of over Le 125 billions prevented the amount to be credited.
Inside sources within the Ministry of Finance have it that lot of development projects were in the list of unprocessed pending payments awaiting improvement in fiscal positions, which is testament to the fact that the government is flowing on with excessive expenditure over aboard.
The same sources maintain that because the Government is guilty of excessive spending they are now experiencing slippages with a high note of inflation and interest rates. Find out from this letter below.
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