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New Economic Think Tank (EASL) launched

oiA new Economic Research think tank the “Economic Association of Sierra Leone” (EASL) was yesterday launched at the British Council Auditorium in Freetown with the theme “Economic Governance, Macroeconomic Stability and Inclusive Growth.”
The aim of the EASL is to actively engage in economic and social research with a view to provoking informed judgment on the policy front.
Giving a brief background of the Association a member said they plan to bring together economists from the public and the private sector to critically look at economic issues and fiscal policies.
He said members could also undertake peer review mechanism on policy issues regarding the economy and that the Association is legally registered with the government of Sierra Leone.
He also said that plans are underway to organise a national conference on economics and disclosed that a resource center has also been established for students and researchers.
Chairman of the ceremony Dr. Michael Kargbo said Economic growth should be transformative in the alleviation of poverty for sustainable development and said the association should also publish economic materials.
Former Bank of Sierra Leone Governor,Dr. James D Rogers said good economic governance is the process whereby the goals and objectives of the economy is realised and can only be achieved when all structures work independently and benefits of growth is distributed among the population.
He said increased productivity will generate growth and the basic needs of the majority of the people are met.
Dr. VIP Kargbo head of the Research Department at the National Social Security and Insurance Trust (NASSIT) spoke about the current fiscal regimes in the country additionally stating that the inclusive growth can be determined by the Gross Development Product (GDP) figures. He also spoke about market failures and natural resource funds towards economic growth and sustainable development
Samuel Brima Head of the Economics Department at Fourah Bay College University of Sierra Leone said 71% of the unemployed in the country are the youths and calls for the improvement of the human resource capacity of youths through middle level man power development.
He added that economic governance and policy coherence is critical towards inclusive growth and sustainable development through empowerment of vulnerable groups. He also said social spending is necessary to reduce inequality.
AlieuSesay former Commissioner General of the National Revenue Authority said fiscal policies are not implemented as documented and said some companies come into this country demanding concession for a possible employment of locals but in actual fact, they employ lesser than what they promised during the signing of the agreement.
He said the association should serve as a think tank to guide state actors in the formulation of economic policies in the country and formally launched the Economic Association of Sierra Leone.

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