By Joe Turay and Jane Kanu
Sierra Leone’s budget continues to suffer from weak credibility despite recent improvements in public financial management, the International Monetary Fund’s (IMF) resident representative has said, highlighting persistent weaknesses in government planning and fiscal discipline.
Speaking at a public forum organised by the Budget Advocacy Network (BAN), IMF Resident Representative Wayne Mitchell acknowledged reforms undertaken by President Julius Maada Bio’s administration but said unrealistic budget forecasts and frequent policy changes continue to undermine confidence in the country’s fiscal planning.
“Budget credibility is still weak. It’s driven by unrealistic forecasts reflecting inadequate costings, reprioritisation of policies, or the introduction of new policies that were not included in the budget,” Mitchell said.
His remarks come as Sierra Leone continues to grapple with high inflation, rising public debt, elevated living costs and growing public concern over the country’s economic outlook.
Mitchell noted that the government has made progress under its 2023–2027 Public Financial Management Reform Strategy. Among the improvements, he cited the expansion of the Integrated Financial Management Information System (IFMIS), stronger payroll controls and reforms aimed at improving transparency and accountability in the management of public finances.
However, he said those reforms must be accompanied by more realistic budget planning and stronger adherence to approved fiscal priorities if they are to restore public confidence.
The IMF has repeatedly urged Sierra Leone to strengthen domestic revenue mobilisation, improve expenditure management and enhance fiscal discipline as part of broader efforts to stabilise the economy.
The Bio administration has defended its economic policies, arguing that global shocks, including the COVID-19 pandemic, the war in Ukraine and wider international economic pressures, have significantly affected Sierra Leone’s economy while maintaining that reforms are beginning to produce results.
Mitchell’s assessment nevertheless underscores the continuing challenges facing the government as it seeks to restore confidence in public finances while responding to mounting economic pressures confronting households and businesses across the country.
