Sheku Sambadeen Sesay: Issues relating to Africa in the context of the
global financial and economic crisis
Statement by Mr Sheku Sambadeen Sesay, Governor of the Bank of Sierra Leone, at the
dinner in honour of the delegates for the African Caucus Meeting, hosted by the Bank of
Sierra Leone, Freetown, 16 August 2010.
* * *
Ministers of Finance
Governors of central banks
Head of delegations
Distinguished Ladies and Gentlemen
On behalf of the President of the Republic of Sierra Leone, Dr. Ernest Bai Koroma and the
Board and Directors of the Bank of Sierra Leone, it is my profound pleasure to extend a
warm welcome to all distinguished personalities assembled here this evening. I believe that
since your arrival here in Freetown you have had a taste of the typical African hospitality
which is very true of the people of Freetown.
As you are aware this is my first meeting since my appointment as Governor of the Bank of
Sierra Leone in June this year.
Our meeting is taking place at a critical period. Our countries are experiencing the effects of
the slow down in the world economy triggered by the global financial crisis. As we are all
aware this recent challenge far exceeds the capabilities of any single country. These
challenges require international coordinations and inter-governmental collaboration which
makes it imperative for us to work together.
As we meet today we welcome the various measures taken by the Bretton Woods institutions
to reduce the impact of the devastating effects of the turbulences in the international
monetary and financial markets and look forward to future reforms to help ease the burden
on our economies. Another issue I will like to mention is the aspect of voice and
representation which is critical for us to be fully represented in these institutions and we are
happy that these issues are being addressed.
For the next two days we will discuss issues relating to Africa in the context of global
financial and economic crisis, lessons learnt and the way forward at the Miatta Conference
Hall. This Dinner gives the opportunity to set the scene and get familiar with each other as
there are a host of Bank Governors and Finance Ministers here coming from all over the
continent, some, if not most, of us are meeting for the first time. I am certain it will not be
hard for us to get to know each other because we share a lot in common, in terms of
language, culture and socio-economic conditions. It is my belief that it is this common history
and economic experience that brings us together and gives us a unique advantage in
understanding our collective situations to help us reach consensus on all of the issues on the
table for discussion. We have a long history of working together and reaching remarkable
useful consensus on critical issues when it matters most, this time will be no different.
Honourable Ministers and Governors
I am sure we have all had a very hectic day on discussing all these issues and look forward
to a very relaxed evening.
For those that have not had time to look around this beautiful and historic city I implore you to
find time to explore our beautiful beaches and various historic sites.
I wish you fruitful deliberations and hope that Freetown would forever be remembered as the
venue where key decisions affecting the African continent would be made.
I thank you.