Section 3, The Public Debt Management Act, 2011.

(1) The Government may borrow– (a) to finance Government budget deficits; (b) to maintain a credit balance on the treasury main account at a level determined by the Minister; 2 3 Interpretation. Act No. 6 of 1991. Act No. 1 of 2004. Minister to borrow on behalf of Government. Borrowing purposes. (c) to provide such Government loans or credits to local councils, public enterprises and any other entity as may be approved by Parliament; (d) to honour obligations under outstanding Government guarantees; (e) to refinance outstanding debt or repay a loan prior to its date of repayment; (f) to immediately protect, mitigate or eliminate effects caused by a natural or environmental disaster or any other national emergency; (g) to replenish the international reserves; (h) to meet requests by the Bank of Sierra Leone to issue Government securities for the sole purpose of supporting monetary policy objectives; and (i) any other purpose as Parliament may by resolution, approve. (2) Where Government borrowing is for any of the purposes stated in paragraph (f) of subsection (1), the Minister shall as soon as is practicable but in any event not later than ten working days after the conclusion of the borrowing, inform Parliament about the terms and conditions of the loan.