Sierra Leone: Sixth Review Under the Extended Credit Facility Arrangement, Financing Assurances Review and Request for Waiver for Nonobservance of Performance Criteria-Press Release; and Staff Report

December 22, 2016

Preview Citation

Format: Chicago

Sierra Leone: Sixth Review Under the Extended Credit Facility Arrangement, Financing Assurances Review and Request for Waiver for Nonobservance of Performance Criteria-Press Release; and Staff Report, (USA: International Monetary Fund, 2016) accessed November 21, 2024

Summary

This paper discusses Sierra Leone’s Sixth Review Under the Extended Credit Facility (ECF) Arrangement, Financing Assurances Review, and Request for Waiver for Nonobservance of Performance Criteria. Growth is expected to reach 6.5 percent in the medium term. However, risks to the outlook are firmly to the downside. Revenues are too low to finance key infrastructure projects. Iron ore production has become moderately profitable, but there is downside risk to iron ore prices. The IMF staff supports the authorities’ request for completion of the sixth (last) review of the ECF arrangement, as well as the request for a waiver for nonobservance of the continuous performance criteria on nonintroduction of multiple currency practices.

Subject: Budget planning and preparation, Expenditure, External debt, Foreign exchange, Imports, International trade, Public financial management (PFM)

Keywords: Budget planning and preparation, CR, Debt policy, Economic reform program, Fuel, Fund, Global, Imports, ISCR, Leone, Priority infrastructure project, Retail price, Sierra Leone's ECF arrangement

Publication Details

Pages:

60
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/378
Stock No:

1SLEEA2016003
ISBN:

9781475559798
ISSN:

1934-7685

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