Sierra Leone: Financial Position in the Fund
as of January 31, 2014 |
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Summary of IMF members' quota, reserve tranche position, SDR holdings, outstanding credit, recent lending arrangements, projected payments due to the IMF, and historical transactions with the IMF.
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| I. Membership Status: Joined: September 10, 1962; | Article VIII |
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| V. Latest Financial Commitments: |
Arrangements:
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| Date of | Expiration | Amount Approved | Amount Drawn | | Type | Arrangement | Date | (SDR Million) | (SDR Million) | | ECF | Oct 21, 2013 | Oct 20, 2016 | 62.22 | 8.89 | | ECF | Jul 01, 2010 | Jun 30, 2013 | 31.11 | 22.20 | | ECF 1/ | May 10, 2006 | Jun 22, 2010 | 51.88 | 51.88 |
1/ Formerly PRGF. |
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| VI. Overdue Obligations and Projected Payments to Fund 2/ | | (SDR Million; based on existing use of resources and present holdings of SDRs): | | | Forthcoming | | | | 2014 | 2015 | 2016 | 2017 | 2018 | | Principal |
| 7.68 | 9.86 | 11.68 | 12.11 | 12.99 | | Charges/Interest |
| 0.00 | 0.18 | 0.15 | 0.12 | 0.09 | | Total |
| 7.68 | 10.04 | 11.83 | 12.23 | 13.08 |
| | 2/ When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section. |
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| VII. Implementation of HIPC Initiative: |
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| Enhanced | | I. Commitment of HIPC assistance |
| Framework | | Decision point date |
| Mar 2002 | | Assistance committed | | by all creditors (US$ Million) 1/ |
| 675.20 | | Of which: IMF assistance (US$ million) |
| 125.21 | | (SDR equivalent in millions) |
| 100.00 | | Completion point date |
| Dec 2006 |
| | II. Disbursement of IMF assistance (SDR Million) | | Assistance disbursed to the member |
| 100.00 | | Interim assistance |
| 66.03 | | Completion point balance |
| 33.97 | | Additional disbursement of interest income 2/ |
| 6.58 | | Total disbursements |
| 106.58 | | 1/ Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts can not be added. | | 2/ Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period. |
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| VIII. Implementation of Multilateral Debt Relief Initiative (MDRI): |
| | I. MDRI-eligible debt (SDR Million)1/ | 117.34 | | Financed by: MDRI Trust | 76.75 | | Remaining HIPC resources | 40.59 |
| | II. Debt Relief by Facility (SDR Million) | | | Eligible Debt | Delivery
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GRA |
PRGT |
Total | | December 2006 | N/A | 117.34 | 117.34 |
| | 1/ The MDRI provides 100 percent debt relief to eligible member countries that qualified for the assistance. Grant assistance from the MDRI Trust and HIPC resources provide debt relief to cover the full stock of debt owed to the Fund as of end-2004 that remains outstanding at the time the member qualifies for such debt relief. |
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| IX. Implementation of Post-Catastrophe Debt Relief (PCDR): Not Applicable |
As of February 4, 2015, the Post-Catastrophe Debt Relief Trust has been transformed to the Catastrophe Containment and Relief (CCR) Trust. | | _________________ | | Decision point - point at which the IMF and the World Bank determine whether a country qualifies for assistance under the HIPC Initiative and decide on the amount of assistance to be committed. | | Interim assistance - amount disbursed to a country during the period between decision and completion points, up to 20 percent annually and 60 percent in total of the assistance committed at the decision point (or 25 percent and 75 percent, respectively, in exceptional circumstances). | | Completion point - point at which a country receives the remaining balance of its assistance committed at the decision point, together with an additional disbursement of interest income as defined in footnote 2 above. The timing of the completion point is linked to the implementation of pre-agreed key structural reforms (i.e., floating completion point). |
| | Prepared by Finance Department |
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