37.9 C
Sierra Leone
Friday, April 19, 2024

IMF Says Bio’s Steps Are Good

HomeAYV NewsIMF Says Bio’s Steps Are Good

IMF Says Bio’s Steps Are Good

Date:

Related stories

Africell presents NLe300 Cash Prize to Win Kopo Winner

Africell Sierra Leone continues to demonstrate its commitment to...

Minister Tim Kabba hosts Regional Conference on Autonomous Weapons

ECOWAS Foreign Ministers, Security Experts and Artificial Intelligence Specialists...

Amb. Navo to serve as Guest Speaker at POW School Thanksgiving

The renowned Chief Executive Officer (CEO) of Africa Young...

AYV Holds 2-Day ‘Strategic Planning Staff’ Seminar

Chief Executive Officer (CEO) of the Africa Young Voices...

The Freetown Street Art & Music Festival

The Freetown Street Art & Music Festival Freetown, Sierra Leone...

 

Summarizing its Sierra Leone Economy Review Report, this is what the IMF says:

“Since emerging from a decade-long civil war in 2001, the country has made notable economic progress but has also suffered occasional setbacks, such as the Ebola Virus Disease epidemic of 2014.

“A three-year ECF arrangement was approved June 2017 to help address Sierra Leone’s macroeconomic weaknesses—in particular, low revenue, elevated inflation, high public debt, and inadequate foreign exchange reserve buffers—which had been exacerbated by the Ebola crisis and a collapse in iron ore prices (Country Report No. 17/154).

However, the programme went off track shortly after approval as lackluster revenue revenue performance and expenditure overruns led to a budget cash shortfall and a growing stock of budget arrears.”

It adds that “this government has taken a number of corrective actions over the last six months with the aim of reviving the program engagement with the IMF.”

Latest stories

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once