IMF staff and the Sierra Leonean authorities have reached a staff-level agreement on economic policies to conclude the eighth and final review of the 60-month ECF financed program, releasing
about US$20.4 million in financing once the review is formally completed by the IMF Executive Board.
External shocks and policy slippages in recent years contributed to macroeconomic imbalances, including high inflation, a build-up in debt, and low international reserves. A cost-of-living crisis
continues to take a severe toll. The authorities have taken steps to tighten the macroeconomic policy stance, but further efforts are needed .
The program has laid the foundations for an economic recovery by taking steps to restore macroeconomic stability, address debt
vulnerabilities, and protect the most vulnerable.
Reforms supported by the ECF have strengthened tax administration, public financial management, and financial sector oversight, among others.
