Posted by FBC GUY on October 26, 2007 at 22:24:49:
I hope you have all heard of the widely rumored plans to appoint another square political peg into a national economic round hole. I know that most of you are true patriots eager to see the development of our dear Sierra Leone. Now let’s turn to the point of Mr. Foday Mansaray’s speculative appointment. I hope and pray that rumors of Foday’s appointment are a mere joke and not a serious idea. As you rightly said, EBK should not trivialize the position of the Deputy Governor of the Central Bank. The Central Bank is charged with directing the economic nervous system of the nation. It does this with the understanding and tact implementation of sound monetary policies. To a large extent, the Bank of Sierra Leone directs economic growth, inflation, foreign exchange rate, interest rates, foreign trade, seignorage , IMF and World Bank transactions; without pressure, and with much independence, from the politicians.
I don’t think Foday Mansaray understands a clue about the serious and prime significance of the operation of the Central Bank. It is pathetic that an all-important institution such as the Bank of Sierra Leone is about to be cast into the pit of dishonor and disgrace for political compensation. Real Estate coursework which Mr. Foday Mansaray is claimed to have completed usually lasts for three months. Yes! National Association of Realtors’ coursework takes just three month to complete, and in many cases, a High School Diploma (GED or GCE O’levels) is not a prerequisite. Besides, even a bachelor’s degree in economics does not necessarily qualify someone to assume the position of a deputy Bank Governor. I join all forumites here who believe in sanity of Central Banking to oppose Mr. Foday Mansaray’s rumored appointment. I also join all compatriots to ask EBK not to bastardize the critical and all important tasks of the Central Bank by appointing Foday Mansaray. There could be some other positions Foday can occupy with his self-acclaimed mortgage expertise. NASSIT is one such place where Foday can contribute immensely in the development of commercial housing in both the capital and provincial areas of Sierra Leone.
Finally, please allow me to make some recommendations for this vital position of Governor and the Deputy;
1) Mr. Edmund Koroma----Head of NASSIT, former lecturer in economics at Fourah Bay College
Edmond has a master’s degree from the London School of Economics. Edmund is a sound and much disciplined guy. He was my former lecturer at Aureol.
2) Dr. Sanpha Koroma----Former Governor of the Bank, holds a PhD in Economics and very enterprising guy, who pioneered our monetary policies on the right footing during the turbulent periods of the rebel war.
3) Dr. Raymond Gilpin: PhD in economics from Great Britain?, former Director of Research at the Bank of Sierra Leone,. He has also worked for the African Development Bank. A honest and hard-working guy, who supervised my undergraduate dissertation at FBC. See below some updates on Dr. Gilpin.
http://209.85.165.104/search?q=cache:aY-D1qlJJnoJ:https://www.mccdc.usmc.mil/FeatureTopics/Africa/files/Products/keynote.pps+Raymond,+Gilpin,+Sierra+Leone,&hl=en&ct=clnk&cd=5&gl=us
4) Dr. Victor A.B. Davies (VAB) —PhD Economics; Oxford University, VAB also possesses a double masters in economics; He is former lecturer and acting head of economics department, Fourah Bay College. VAB is hard-working, multilingual, has consulted for the IMF, World Bank, UNDP, DFID, AERC. I have the greatest respect for this guy for his academic discipline and honesty. VAB has written many articles on topics related to central banking in Sierra Leone. Such topics include seigniorage, capital flight, direct foreign investment, balance of payments, exchange rate evolution in Sierra Leone, etc. See his profile below;
http://users.ox.ac.uk/~scro0562/cv-acad%20jo%20market%20march%2007.pdf
5) Dr. Kelfala Kallon; PhD Economics, Professor of Economics, United States; Dr KK has undertaken ground-breaking and rigorous research that relates to the historical trend in inflation in Sierra Leone. Dr. K is also the first Sierra Leonean who undertook a thorough analytical study of the political economy of Sierra Leone. His paper on inflation is currently out of print because of the global demand and the first-class econometric- savvyness of his methodology. Dr. K’s paper can only be obtained from Oxford University by subscription or purchase. Dr. K understands the rigors of monetary policy, exchange rate issues, Central Banking, Open Market Operations, inflation, interest rate and exchange rate targeting, seigniorage, balance of payments, international trade, foreign direct investment etc etc. HOWEVER, KNOWING DR KALLON AS A VERY PRINCIPLED GUY, HE MIGHT OUT RIGHT REJECT ANY OFFER FROM THE APC. DR KALLON IS A GENETIC-SLPP MEMBER AND WILL NOT BE COMFORTABLE WORKING WITH APC. BUT AGAIN FOR THE SAKE OF NATIONAL UNITY, ANYTING IS POSSIBLE.