Sierra Leone: Third and Fourth Reviews Under the Extended Credit Facility Arrangement, Requests for Extension and Rephasing of the Arrangement, Waivers of Nonobservance of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Sierra Leone
IMF Staff Country Reports, August 13, 2021
Source details
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- Sierra Leone: Third and Fourth Reviews Under the Extended Credit Facility Arrangement, Requests for Extension and Rephasing of the Arrangement, Waivers of Nonobservance of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Sierra Leone
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Bibliographic details
- Published: August 13, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513590783.002
Summary and program status
- Following two emergency Rapid Credit Facility disbursements in June 2020 and March 2021 to assist in addressing the impact of the COVID-19 pandemic, the Sierra Leonean authorities are committed to resuming the program supported by the Extended Credit Facility arrangement.
- The program is an important policy anchor for the authorities.
- The program’s main objectives—revenue mobilization, safeguarding financial stability, and addressing external vulnerabilities—remain valid.
Economic outlook and risks
- An economic recovery is underway, driven by the mining sector.
- Risks to the outlook are considerable.
- The risk of debt distress is high but remains sustainable.
- External vulnerabilities are expected to persist over the medium term.
Financing and sustainability
- Sustainability of debt and program prospects are predicated on the authorities’ ambitious fiscal adjustment and continued reliance on concessional financing and grants.
- The report includes a financing assurances review and addresses financing pressures and the financing situation facing Sierra Leone.
Subjects and keywords (as listed in the source)
- Subjects: Arrears, Budget planning and preparation, Credit, External debt, International organization, Monetary policy, Money, Public debt, Public financial management (PFM)
- Keywords: Arrears, Budget planning and preparation, Credit, ECF disbursement, Extended Credit Facility arrangement, financing assurances review, financing pressure, financing situation, Global, priority expenditure, Sierra Leonean authorities
Content in this bundle
- 1sleea2021003