## Sierra Leone: Request for Disbursement under the Rapid Credit Facility

_IMF Staff Country Reports, March 23, 2021_

## Source details

**Canonical URL:** [Sierra Leone: Request for Disbursement under the Rapid Credit Facility](https://www.imf.org/en/publications/cr/issues/2021/03/23/sierra-leone-request-for-disbursement-under-the-rapid-credit-facility-50298)

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## Bibliographic details
- Published: March 23, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513574578.002

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### Overview and key findings
- Sierra Leone continues to grapple with the serious and persistent economic and social effects of the pandemic.
- Containment measures and trade disruptions in 2020 weakened domestic demand and exports and caused domestic revenues to fall.
- Food insecurity has risen from its already-high pre-COVID-19 level.
- 2021 is set to be another challenging year, with the ‘second wave’ of infections and vaccine-related uncertainties posing further risks to the recovery.
- As import growth picks up and development partner support returns to pre-2020 levels, Sierra Leone faces urgent external and fiscal financing needs (both around about 2 percent of GDP).
- Uncertainty about the outlook and larger near-term financing gaps have impeded the immediate resumption of the program under the Extended Credit Facility (ECF).

### Financing request and amounts
- The authorities are requesting a disbursement under the Rapid Credit Facility (RCF) of 17 percent of quota (SDR 35.26 million).
- This request follows the June 2020 RCF disbursement of 50 percent of quota (SDR 103.7 million).
- The requested disbursement would bring total access for the past 12-month period to 82 percent of quota (or 5½ percent of GDP).
- Total access of 82 percent of quota is within the 150 percent of quota annual PRGT access limit.

### Participation in debt-relief and emergency initiatives
- The authorities received debt relief under the Catastrophe Containment and Response Trust (CCRT).
- The authorities are participating in the Debt Service Suspension Initiative (DSSI).

### Subjects and keywords (as listed)
- Subjects: Arrears, Budget planning and preparation, COVID-19, External debt, Public debt
- Keywords: CR, emergency financing from the IMF, financing gap, financing situation, ISCR, priority spending, Sierra Leonean authorities

### Publication metadata (selected)
- Pages: 66
- Volume: 2021
- Issue: 058
- Series: Country Report No. 2021/058
- DOI: https://doi.org/10.5089/9781513574578.002
- Stock No: 1SLEEA2021001
- ISBN: 9781513574578
- ISSN: 1934-7685

*International Monetary Fund. Sierra Leone: Request for Disbursement under the Rapid Credit Facility. March 23, 2021.*

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_Source: https://www.imf.org/en/publications/cr/issues/2021/03/23/sierra-leone-request-for-disbursement-under-the-rapid-credit-facility-50298_