Adam Smith in his work ‘An Inquiry into the Nature and Causes of the Wealth of Nations’ wrote:
When it becomes necessary for a state to declare itself bankrupt, in the same manner as when it becomes necessary for an individual to do so, a fair, open and avowed bankruptcy is always the measure which is both least dishonourable to the debtor and least hurtful to the debtor.
1 PAPER TITLE: ENHANCING ECONOMIC INTEGRATION, THE RULE OF LAW AND DEMOCRATIC GOVERNANCE IN WEST AFRICA. PRESENTED BY: AUGUSTINE S. MARRAH ESQ. (REPRESENTATIVE FROM THE SIERRA LEONE BAR ASSOCIATION) Good morning colleague officers of the law, I bring you all warm greetings from the President and members of the Sierra Leone Bar Association on the other side of the Mano River basin. I am deputising the President of the Sierra Leone Bar Association who unavoidably cannot be present at this august occasion.