By Mabinty M. Kamara
The Ministry of Finance has signed a cooperation agreement with the Economic Department of Fourah Bay College (FBC), University of Sierra Leone, for the establishment of a resource center for the use of students.
The signing ceremony took place at the Ministry’s Conference room in Freetown on December 6.
According to Finance Minister, Jacob Jusu Saffa, the collaboration is aimed at building the capacity of students and improve on the research capacity of the department and the ministry.
“I have come to the realisation that we cannot do it alone and to have an objective look at some of the issues, we have to engage, to do joint work. We have to build in-house capacity. That is why we have gone back to the place that manufactures economists, which is the department of Economics and Commerce at Fourah Bay College,” Saffa said.
He added: “Almost all of us here studied economics at Fourah Bay College, but instead of addressing the problem when we are here, we keep moving back. That is why we are going to constantly be getting back to them and so as part of the process, we are going to sign an MOU on how we are going to collaborate.”
The agreement entails conducting research on contemporary issues in the Sierra Leone economy, supporting economic policy objectives of the government, establishing an econometrics laboratory in the Economics and Commerce Department, building the capacity of students and lecturers to undertake empirical research work, acquire modern tools to aid teaching at international standard, provide internship programmes at the Ministry to top grade students to enable them acquire practical experience, and collaborate in all areas based on the ministry’s policy objectives.
In addition to constructing the centre, the Finance Ministry will also equip the facility with computers and set it into some sort of Econometrics laboratory. They will also support dissertation writing for master’s student.
Abdulai Brima, head of the Economics and Commerce Department at FBC, said they had always looked forwards having a collaboration with the Ministry of Finance.
“In all our engagements, we have always thought of changing our style of training economists. Over the years, if you go to the economics department, our students are mainly engaged in learning either micro or macroeconomic theories. With this collaboration, and with the establishment of the economics lab, it will give our students the opportunity to actually look at the macroeconomics theories and see how they can establish relationships that involve social economic and political variables and use statistical data to meet the demands of those relationships,” he said.
He added that having practical economists with a clear understanding of the economic structures of Sierra Leone would help the Ministry of Finance and all relevant MDAs to either make some adjustment or change the economic trajectory into research based economic policies.
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