By Mackie M. Jalloh
The International Monetary Fund (IMF) has concluded its latest review mission on Sierra Leone’s Extended Credit Facility (ECF) program, following a week of high-level consultations with government officials, financial institutions, and key stakeholders.
The mission, led by IMF Mission Chief Christian Saborowski, evaluated Sierra Leone’s progress on critical structural benchmarks under the ECF program. These include the implementation of the Memorandum of Economic and Financial Policies (MEFP), reforms in governance and anti-corruption, public financial management improvements, domestic revenue mobilization, and debt management strategies.
During the review, Saborowski highlighted the IMF’s focus on strengthening expenditure controls, improving budget transparency, broadening the tax base, and enhancing debt recording and monitoring systems. The mission team assessed ongoing initiatives aimed at ensuring fiscal discipline, macroeconomic stability, and sustainable economic growth.
Finance Minister Sheku Ahmed Fantamadi Bangura welcomed the IMF’s support, noting that coordinated monetary policy with the Bank of Sierra Leone had helped reduce inflationary pressures. He further emphasized improvements in governance, transparency, and institutional accountability, including enhanced frameworks for asset declarations and public sector oversight.
Minister Bangura stressed Sierra Leone’s commitment to meeting the remaining benchmarks under the program, underscoring the importance of continued technical support and policy coordination to maintain macroeconomic stability. Financial Secretary Matthew Dingie commended the IMF team and called for collective effort across all sectors of government to implement the required reforms.
The findings of the mission will inform the IMF’s formal review report, expected to be presented at the Spring Meetings in April 2026. This follows the approval of Sierra Leone’s first and second ECF reviews in December 2025, which facilitated an immediate disbursement of US$79.8 million to support the country’s economic reform agenda. The latest IMF review highlights Sierra Leone’s ongoing efforts to stabilize the economy, enhance fiscal discipline, strengthen governance, and build resilience against external shocks, while maintaining transparency and accountability in public financial management. The government reaffirmed its determination to sustain reform momentum and ensure the effective utilization of resources to achieve long-term economic stability
