Sierra Leone: Selected Issues

July 29, 2022

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Sierra Leone: Selected Issues, (USA: International Monetary Fund, 2022) accessed November 13, 2024

Summary

This Selected Issues paper focuses on mainstreaming adaptation in Sierra Leone. The strong linkage between climate vulnerability and development calls for mainstreaming adaptation into national development agenda, while macro vulnerability requires fiscal policies to balance the needs of climate actions and debt sustainability. Enhancing the capacity to tap into external grants will be critical to fulfil the climate commitments while maintaining debt sustainability. Meanwhile, gradually adapting the existing Personal Financial Management (PFM) practices to integrate climate targets within and beyond the budget cycle will help mainstream adaptation and prioritize climate projects. Climate-related shocks have caused heavy casualties and economic losses, underlining the importance of investing in adaptation for infrastructure to reduce vulnerability. Macro-fiscal policies would benefit from being supported by frameworks that link climate risks to debt sustainability analysis. The authorities should calibrate climate costs and adaptation benefits and integrate adaptation into fiscal policies. Green PFM should gradually adapt the existing PFM practices to integrate climate targets within and beyond the budget cycle and help prioritize climate spending.

Subject: Asset and liability management, Education, Environment, International organization, Labor, Monetary policy, Prices

Keywords: Africa, Baseline debt anchor, Central Africa, Climate change, Climate commitment, Debt anchor, Debt limits, Education policy, Financing mix, Global, Human capital, Inflation, Inflation driver, Model description, Panel data regression, Sub-Saharan Africa, West Africa

Publication Details

Pages:

98
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2022/260
Stock No:

1SLEEA2022002
ISBN:

9798400216176
ISSN:

1934-7685

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