{ "title": "Sierra Leone: Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Sierra Leone", "publication": "IMF Staff Country Reports, June 10, 2020", "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2020/06/10/sierra-leone-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-49499", "canonical": "https://www.imf.org/en/publications/cr/issues/2020/06/10/sierra-leone-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-49499", "overlayPath": "/en/publications/cr/issues/2020/06/10/sierra-leone-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-49499/index.md", "summary": "This paper discusses Sierra Leone’s Request for Disbursement Under the Rapid Credit Facility (RCF). The coronavirus disease 2019 (COVID-19) pandemic puts Sierra Leone’s population at risk and is a serious blow to the economy, which has just started to recover.", "sections": [ { "heading": "Summary of the shock and economic impact", "content": "- The coronavirus disease 2019 (COVID-19) pandemic puts Sierra Leone’s population at risk and is a serious blow to the economy, which has just started to recover.\n- The number of COVID-19 cases is increasing rapidly, threatening the fragile health system.\n- The drop in external demand and essential measures to contain the spread of the virus are sharply curtailing economic activity.\n- The shock has generated a large balance of payments need." }, { "heading": "Authorities’ policy response", "content": "- Authorities are taking decisive actions to mitigate the health and socio-economic impact of the pandemic.\n- In collaboration with development partners, they are scaling up urgent health spending.\n- Measures introduced include boosting social safety nets and ensuring access to credit for affected businesses.\n- Emergency financing under the Rapid Credit Facility (RCF) will help meet the financing gap and create room for pandemic-related spending." }, { "heading": "Financing needs, instruments, and appeals", "content": "- Emergency financing under the RCF is presented as a tool to meet the identified financing gap and to create fiscal space for pandemic-related spending.\n- With significant downside risks and a tight financing situation threatening to reverse Sierra Leone’s progress toward the Sustainable Development Goals, additional grant support from the international community is urgently needed.\n- Keywords associated with the request: Budget planning and preparation, COVID-19, CR, Credit, emergency financing request, financing, financing gap, financing situation, Global, IMF lending tracker, ISCR, monetary policy implementation, pandemic." }, { "heading": "Policy implications and priorities", "content": "- Prioritize scaling up urgent health spending to support the fragile health system.\n- Strengthen social safety nets to protect vulnerable populations affected by containment measures.\n- Ensure access to credit for affected businesses to limit economic scarring.\n- Secure emergency external financing (RCF and additional grant support) to cover the large balance of payments need and preserve progress toward the Sustainable Development Goals." }, { "heading": "Publication and metadata", "content": "- Publication date: June 10, 2020\n- Pages: 44\n- Volume: 2020\n- Issue: 196\n- Series: Country Report No. 2020/196\n- DOI: https://doi.org/10.5089/9781513546964.002\n- Stock No: 1SLEEA2020003\n- ISBN: 9781513546964\n- ISSN: 1934-7685\n- Subject tags: Budget planning and preparation, COVID-19, Credit, External debt, Health, Money, Public debt, Public financial management (PFM)\n\nIMF Staff Country Reports. Sierra Leone: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Sierra Leone, June 10, 2020.\n\n---\n\n Content in this bundle\n\n- 1sleea2020003\n - 1sleea2020003 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - 1sleea2020003 (PDF){rel=\"external\" type=\"application/pdf\"}" } ], "bullets": [ "[Markdown version](/en/publications/cr/issues/2020/06/10/sierra-leone-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-49499/index.md)", "[Structured JSON version](/en/publications/cr/issues/2020/06/10/sierra-leone-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-49499/index.json)", "[Bundle manifest](/en/publications/cr/issues/2020/06/10/sierra-leone-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-49499/bundle-manifest.json)", "Published: June 10, 2020", "Series: IMF Staff Country Reports", "DOI: https://doi.org/10.5089/9781513546964.002", "The coronavirus disease 2019 (COVID-19) pandemic puts Sierra Leone’s population at risk and is a serious blow to the economy, which has just started to recover.", "The number of COVID-19 cases is increasing rapidly, threatening the fragile health system.", "The drop in external demand and essential measures to contain the spread of the virus are sharply curtailing economic activity.", "The shock has generated a large balance of payments need.", "Authorities are taking decisive actions to mitigate the health and socio-economic impact of the pandemic.", "In collaboration with development partners, they are scaling up urgent health spending.", "Measures introduced include boosting social safety nets and ensuring access to credit for affected businesses.", "Emergency financing under the Rapid Credit Facility (RCF) will help meet the financing gap and create room for pandemic-related spending.", "Emergency financing under the RCF is presented as a tool to meet the identified financing gap and to create fiscal space for pandemic-related spending.", "With significant downside risks and a tight financing situation threatening to reverse Sierra Leone’s progress toward the Sustainable Development Goals, additional grant support from the international community is urgently needed.", "Keywords associated with the request: Budget planning and preparation, COVID-19, CR, Credit, emergency financing request, financing, financing gap, financing situation, Global, IMF lending tracker, ISCR, monetary policy implementation, pandemic.", "Prioritize scaling up urgent health spending to support the fragile health system.", "Strengthen social safety nets to protect vulnerable populations affected by containment measures.", "Ensure access to credit for affected businesses to limit economic scarring.", "Secure emergency external financing (RCF and additional grant support) to cover the large balance of payments need and preserve progress toward the Sustainable Development Goals.", "Publication date: June 10, 2020", "Pages: 44", "Volume: 2020", "Issue: 196", "Series: Country Report No. 2020/196", "DOI: https://doi.org/10.5089/9781513546964.002", "Stock No: 1SLEEA2020003", "ISBN: 9781513546964", "ISSN: 1934-7685", "Subject tags: Budget planning and preparation, COVID-19, Credit, External debt, Health, Money, Public debt, Public financial management (PFM)", "**1sleea2020003**" ], "related": [ { "title": "1sleea2020003", "role": "document", "sourceUrl": "https://www.imf.org/-/media/files/publications/cr/2020/english/1sleea2020003.pdf", "summary": { "path": "/-/media/files/publications/cr/2020/english/1sleea2020003.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/-/media/files/publications/cr/2020/english/1sleea2020003.pdf", "mime": "application/pdf" } } ], "alternates": { "markdown": "/en/publications/cr/issues/2020/06/10/sierra-leone-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-49499/index.md", "json": "/en/publications/cr/issues/2020/06/10/sierra-leone-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-49499/index.json", "bundleManifest": "/en/publications/cr/issues/2020/06/10/sierra-leone-request-for-disbursement-under-the-rapid-credit-facility-press-release-staff-49499/bundle-manifest.json" }, "generatedAtUtc": "2026-09-12T18:54:29.537Z" }