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Economic Resilience: IMF Announces $20 Million for Sierra Leone

08/06/2022
Categories: Economy/Forex

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Sierra Leone will receive $20.8 million from the International Monetary Fund (IMF) after the fifth review of its economic reform program.

The country has initiated since 2018, an IMF supervised program aimed at improving its economic resilience. After the completion of the fifth review of this reform program, the Fund announces via a statement a new financial envelope.

In practice, this program, known as the Extended Credit Facility (ECF), is based on "increased domestic revenue mobilization, obtainingIn practice, this program, known as the Extended Credit Facility (ECF), is based on "increased domestic revenue mobilization, obtaining more budget support grants, and strengthening expenditure management and commitment controls. The FEC is expected to help build the country's economic resilience and improve public finances. The goal is to stimulate growth and protect the most vulnerable.

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