{
  "title": "Sierra Leone: Second and Third Reviews Under the Three-Year Arrangement Under the Extended Credit Facility, Request for Waivers of Nonobservance of Performance Criteria, Request for Modification of Performance Criteria, and Financing Assurances Review: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Sierra Leone.",
  "publication": "IMF Staff Country Reports, December 20, 2011",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/sierra-leone-second-and-third-reviews-under-the-three-year-arrangement-under-the-extended-25446",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2016/12/31/sierra-leone-second-and-third-reviews-under-the-three-year-arrangement-under-the-extended-25446",
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  "summary": "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.",
  "sections": [
    {
      "heading": "Key findings and near-term outlook",
      "content": "- Real GDP growth picked up to about 5 percent in 2010–11.\n- The commencement of an iron ore megaproject in 2012 is expected to boost GDP and exports substantially.\n- Sierra Leone’s economic activity is expanding, and the medium-term outlook is favorable."
    },
    {
      "heading": "Fiscal policy, program performance, and monetary interactions",
      "content": "- Fiscal tightening was implemented through strengthening of revenue collection and containing domestically financed capital spending.\n- Reduced central bank direct credit to government contributed to meeting program targets.\n- Program ceilings for net credit to government and net domestic assets were met by substantial margins in June 2011."
    },
    {
      "heading": "Policy implications and priorities (implied by program actions)",
      "content": "- Continue strengthening revenue collection to support fiscal tightening.\n- Contain domestically financed capital spending to preserve program targets.\n- Maintain reduced central bank direct credit to government to support macroeconomic stability ahead of large resource-related shocks (e.g., the iron ore megaproject in 2012)."
    },
    {
      "heading": "Thematic coverage (as listed)",
      "content": "- Budget planning and preparation\n- Fuel prices\n- National accounts\n- Prices\n- Producer price indexes\n- Public debt\n- Public financial management (PFM)\n\nSierra Leone: Second and Third Reviews Under the Three-Year Arrangement Under the Extended Credit Facility...; December 20, 2011.\n\n---\n\n Content in this bundle\n\n- Cr11361\n  - Cr11361 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Cr11361 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: December 20, 2011",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781463929152.002",
    "Real GDP growth picked up to about 5 percent in 2010–11.",
    "The commencement of an iron ore megaproject in 2012 is expected to boost GDP and exports substantially.",
    "Sierra Leone’s economic activity is expanding, and the medium-term outlook is favorable.",
    "Fiscal tightening was implemented through strengthening of revenue collection and containing domestically financed capital spending.",
    "Reduced central bank direct credit to government contributed to meeting program targets.",
    "Program ceilings for net credit to government and net domestic assets were met by substantial margins in June 2011.",
    "Continue strengthening revenue collection to support fiscal tightening.",
    "Contain domestically financed capital spending to preserve program targets.",
    "Maintain reduced central bank direct credit to government to support macroeconomic stability ahead of large resource-related shocks (e.g., the iron ore megaproject in 2012).",
    "**Cr11361**"
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