IMF Staff Country Reports

Sierra Leone’s economic activity is expanding, and the medium-term outlook is favorable. Real GDP growth picked up to about 5 percent in 2010–11, while the commencement of an iron ore megaproject in 2012 is expected to boost GDP and exports substantially. Fiscal tightening, through strengthening of revenue collection and containing domestically financed capital spending, along with reduced central bank direct credit to government, ensured that program ceilings for net credit to government and net domestic assets were met by substantial margins in June 2011.