International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Sep 20, 2024

International Monetary Fund (IMF) Reaches Staff-Level Agreement on a New 38-Month Extended Credit Facility Arrangement with Sierra Leone and Completes 2024 Article IV Mission

The staff-level agreement is subject to approval by the IMF’s Management and Executive Board

IMF staff and the Sierra Leonean authorities have reached a staff-level agreement on economic policies and reforms that could be supported by a new 38-month Extended Credit Facility (ECF) arrangement, with requested access of SDR 187 million (about US$253 million); The ECF would support restoring stability through continued macroeconomic adjustment…

Source: International Monetary Fund (IMF) | Apr 22, 2024

International Monetary Fund (IMF) Staff Concludes Mission to Sierra Leone

The discussions continued during the Spring Meetings of the IMF and the World Bank Group in Washington, DC

An IMF team and the Sierra Leonean authorities held discussions on a new arrangement under the Extended Credit Facility; They made substantial progress towards understandings on the authorities’ development objectives and the reforms needed to achieve macroeconomic stability and maintain debt sustainability; Discussions will continue over the coming months. Continued…

Source: International Monetary Fund (IMF) | Nov 06, 2023

International Monetary Fund (IMF) Staff Reaches Staff-Level Agreement with Sierra Leone on the Eighth Review of the Extended Credit Facility

Multiple external shocks and loose macroeconomic policies in recent years contributed to macroeconomic imbalances, including high inflation, a build‑up of debt, and low reserves

IMF staff and the Sierra Leonean authorities have reached a staff-level agreement on economic policies to conclude the eighth and final review of the 60-month ECF financed program, releasing about US$20.4 million in financing once the review is formally completed by the IMF Executive Board; External shocks and policy slippages in…

Source: International Monetary Fund (IMF) | Jun 06, 2023

International Monetary Fund (IMF) Executive Board Completes the Sixth and Seventh Reviews Under the Extended Credit Facility Arrangement for Sierra Leone

The economic recovery from successive external shocks was interrupted last year amid high energy and food prices in the context of Russia’s war in Ukraine

The IMF Executive Board completed the sixth and seventh reviews under the Extended Credit Facility Arrangement for Sierra Leone which allows for an immediate disbursement of about US$20.7 million; Sierra Leone’s economic challenges have intensified. Inflation has continued to rise; the currency has depreciated sharply; and debt related risks have…

Source: International Monetary Fund (IMF) | May 04, 2023

International Monetary Fund (IMF) Staff Reaches Staff-Level Agreement with Sierra Leone on the Sixth and Seventh Reviews of the Extended Credit Facility

An International Monetary Fund (IMF) team, led by Mr. Christian Saborowski, visited Freetown from April 17 to 28, 2023, for the sixth and seventh reviews of Sierra Leone’s financial and economic program supported by the Extended Credit Facility (ECF)

IMF staff and the Sierra Leonean authorities reached a staff-level agreement on economic policies to conclude the sixth and seventh reviews of the ECF-supported program, which would allow releasing US$21 million in financing. The IMF Executive Board will consider the reviews in the coming weeks. Sierra Leones’s economic challenges have…

Source: International Monetary Fund (IMF) | Dec 13, 2022

International Monetary Fund (IMF) Staff Completes Mission to the Republic of Sierra Leone

The IMF team and the authorities discussed macroeconomic developments, against a challenging global backdrop

An International Monetary Fund (IMF) mission, led by Mr. Christian Saborowski, visited Freetown from November 30 to December 9, 2022, for the sixth review of Sierra Leone’s financial and economic program supported by the Extended Credit Facility (ECF). [1] The ECF arrangement for Sierra Leone was approved on November 30, 2018 (see Press…

Source: International Monetary Fund (IMF) | Jun 07, 2022

IMF Staff Completes Staff Level Agreement on the Fifth Review of the Extended Credit Facility for Sierra Leone and Conducts the 2022 Article IV consultation

The program aims to build resilience and lay the foundations for stronger growth through fiscal consolidation and addressing debt vulnerabilities, while protecting the most vulnerable from the shock

IMF staff and the Sierra Leonean authorities have reached a staff-level agreement on economic policies to conclude the fifth review of the 55-month ECF financed program, releasing US$20.8 million in financing once the review is formally completed by the IMF Executive Board; The economic recovery from the pandemic has been…

Source: International Monetary Fund (IMF) | Jun 03, 2020

Coronavirus - Sierra Leone: International Monetary Fund (IMF) Executive Board Approves US$143 Million Disbursement to Sierra Leone to Address the COVID-19 Pandemic

The COVID-19 pandemic is severely impacting Sierra Leone’s economy

The COVID 19 pandemic is taking a heavy toll on Sierra Leone’s economy, jeopardizing hard-won gains since the Ebola health crisis; The IMF approved the disbursement of US$143 million under the Rapid Credit Facility to support the authorities’ response to the pandemic; The Sierra Leonean authorities are taking decisive and…

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