WASHINGTON/FREETOWN — The International Monetary Fund has approved Sierra Leone’s first and second reviews under its Extended Credit Facility programme, unlocking an immediate disbursement of about $79.8 million to support the country’s economic reforms and priority spending.
The IMF’s Executive Board said the approval reflected improved macroeconomic performance, including easing inflation, relative stability of the leone and a recovery in growth. The Fund projects Sierra Leone’s economy to expand by about 4.4% in 2025.
The financing is expected to help support key sectors of the economy and provide protection for vulnerable groups as the government continues fiscal and structural reforms.
Welcoming the decision, Finance Minister Sheku Ahmed Fantamadi Bangura said the government remained committed to disciplined economic management.
“This approval underscores our resolve to accelerate reforms and build a stable, resilient and inclusive economy,” Bangura said.
Sierra Leone entered the IMF-supported programme to stabilise its economy following years of shocks, including the COVID-19 pandemic, global inflationary pressures and domestic fiscal challenges.
The IMF said continued reform implementation, prudent fiscal policy and efforts to strengthen revenue collection would be critical to sustaining growth and macroeconomic stability going forward.
By Frank Kamara
