Concord Times (Freetown)
Pel Koroma
22 February 2008
Freetown — The Communication and Public Affairs Division (CPAD) of the Commonwealth Secretariat in collaboration with a local NGO, the Center for Policy and Development, has been training journalists, civil society, academics and government officials on budget and finance reporting for the past three days.
The workshop which has been taking place at the Kimbima Hotel would end today.
Commenting on the workshop, the Minister of Information, Ibrahim Ben Kargbo expressed his satisfaction with the seminar saying it was timely as the country is about to introduce the stock exchange market.
"Now is the appropriate time so that the media would be knowledgeable on global finance market. The media disseminate the expenditure of the government and should know the functions of the Finance Minister and the Central Bank," he said.
He added that the media should play an important role in the privatization sector.
Commonwealth resource person and coordinator of the workshop, Orin Gordon emphasized the importance of understanding the budget and finance of a state on participants. "The people should know how revenues come to a state and how government spends it," he said.
The workshop will enhance the understanding of the media on matters relating to the national budget and the skills and knowledge of the media on budget reporting, monitoring and evaluation of government performance. They will also be able to understand the Millennium Development Goals (MGDs) as they unfold in national development.
Director of Finance at the finance ministry, Mathew Dingie said even though journalists are not part of the budget formulation process, they play a crucial role in the effective and independent monitoring of ministerial and agencies' budget plans as estimated in the national budget.
"There are legal and administrative mechanisms through which resources are raised and the finance ministry adheres to principal instruments for resource management. The budget starts with the budget frame work, budget call circle, manpower hearing, policy hearing, participating in discussions with the IMF and other development partners after which there'll be a compilation of the budget before it goes before Parliament," Dingie said.
Professor Anya Schiffrin from Columbia University, USA intimated participants that now that the country is about to introduce the stock exchange market, companies will now have more money to invest.
"Companies list shares on the stock market in order to raise funds for acquisition or to have more money at hand. Once the markets are opened, journalists will write many stories about trading on the market. The stories will describe where the shares moved and why make a prediction for the future," she said.
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