{
  "title": "Sierra Leone: First and Second Reviews Under the Extended Credit Facility Arrangement, Request for Waivers of Nonobservance of Performance Criteria-Press Release; and Statement by the Executive Director for Sierra Leone",
  "publication": "IMF Staff Country Reports, February 13, 2026",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2026/02/12/sierra-leone-first-and-second-reviews-under-the-extended-credit-facility-arrangement-573929",
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  "summary": "The first review of the ECF was delayed amid program slippages last year. The authorities exceeded the 2024 budget deficit by a sizable margin, and the BSL helped finance the overruns.",
  "sections": [
    {
      "heading": "Key findings and program slippages",
      "content": "- The first review of the ECF was delayed amid program slippages in the prior year.\n- The authorities exceeded the 2024 budget deficit by a sizable margin.\n- The Bank of Sierra Leone (BSL) helped finance the 2024 budget overruns.\n- Higher-than-expected government spending on imports and energy subsidies substantially depleted the BSL’s foreign exchange reserves.\n- Pressures on reserves remain unabated."
    },
    {
      "heading": "Macroeconomic developments and policy impact",
      "content": "- Authorities have tightened policies following the slippages.\n- These policy adjustments contributed to a sustained decline in inflation.\n- There has been a welcome fall in borrowing costs following the policy tightening."
    },
    {
      "heading": "Subject focus and keywords (as stated)",
      "content": "- Subject: Debt service, Expenditure, External debt, Public debt\n- Keywords: authorities commitment, central bank, Debt service, Global, government support, Net International Reserves, Policy discussion, Sierra Leonean authorities"
    },
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      "content": "- Date: February 13, 2026\n- Series: Country Report No. 2026/040\n- Volume: 2026\n- Issue: 040\n- Pages: 115\n- DOI: https://doi.org/10.5089/9798229039345.002\n- ISBN: 9798229039345\n- ISSN: 1934-7685\n\nInternational Monetary Fund. Sierra Leone: First and Second Reviews Under the Extended Credit Facility Arrangement, Request for Waivers of Nonobservance of Performance Criteria-Press Release; and Statement by the Executive Director for Sierra Leone (IMF Staff Country Report No. 2026/040), February 13, 2026.\n\n---\n\n Content in this bundle\n\n- 1sleea2026001 Source Pdf\n  - 1sleea2026001 Source Pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1sleea2026001 Source Pdf (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: February 13, 2026",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798229039345.002",
    "The first review of the ECF was delayed amid program slippages in the prior year.",
    "The authorities exceeded the 2024 budget deficit by a sizable margin.",
    "The Bank of Sierra Leone (BSL) helped finance the 2024 budget overruns.",
    "Higher-than-expected government spending on imports and energy subsidies substantially depleted the BSL’s foreign exchange reserves.",
    "Pressures on reserves remain unabated.",
    "Authorities have tightened policies following the slippages.",
    "These policy adjustments contributed to a sustained decline in inflation.",
    "There has been a welcome fall in borrowing costs following the policy tightening.",
    "Subject: Debt service, Expenditure, External debt, Public debt",
    "Keywords: authorities commitment, central bank, Debt service, Global, government support, Net International Reserves, Policy discussion, Sierra Leonean authorities",
    "Date: February 13, 2026",
    "Series: Country Report No. 2026/040",
    "Volume: 2026",
    "Issue: 040",
    "Pages: 115",
    "DOI: https://doi.org/10.5089/9798229039345.002",
    "ISBN: 9798229039345",
    "ISSN: 1934-7685",
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