Africa-Press – Sierra-Leone. Sierra Leone has recorded a major economic milestone following the announcement that the International Monetary Fund (IMF) has reached a staff-level agreement with the country on the First and Second Reviews of the Extended Credit Facility (ECF) programme.
The agreement clears the way for the disbursement of US$78.8 million in financial support to strengthen macroeconomic stability, advance reforms, and bolster economic resilience.
According to the Government of Sierra Leone, this achievement underscores the tangible progress made under the leadership of President Julius Maada Bio, whose administration has prioritized structural transformation, fiscal prudence, and long-term economic sustainability. The successful conclusion of the reviews reflects the IMF’s confidence in the direction of the government’s policies and its continued commitment to reforms aimed at strengthening public financial management, improving revenue mobilization, and enhancing monetary stability.
At the centre of this progress is Sierra Leone’s economic management team, comprising Minister of Finance Sheku Ahmed Fantamadi Bangura, Financial Secretary Mathew Dingie, Bank of Sierra Leone Governor Dr. Ibrahim L. Stevens, and Commissioner General of the National Revenue Authority (NRA) Madam Jeneba Bangura. Working collectively, they have championed reforms that promote financial discipline, streamline expenditure, curb inflationary pressures, and create a more predictable environment for investment.
The IMF’s approval is especially significant as it comes at a critical moment just one day before the presentation of the 2026 National Budget in Parliament on Friday, 28th November 2025. The Ministry of Finance has signalled that this year’s budget will prioritize stability, accountability, and growth, with a strong focus on improving service delivery, protecting vulnerable citizens, and accelerating economic diversification.
The ECF programme has served as an anchor for Sierra Leone’s economic reform agenda. Under this framework, the government has intensified efforts to broaden the tax base, modernize revenue collection systems, strengthen foreign exchange management, and reduce debt vulnerabilities. The IMF’s staff-level agreement acknowledges the progress made in meeting key benchmarks despite global economic shocks, domestic constraints, and lingering effects of inflation and currency depreciation.
With the incoming US$78.8 million disbursement, the government is expected to channel resources into priority sectors, build fiscal buffers, and continue implementing reforms that support long-term growth. The funding will contribute toward enhancing economic stability, supporting social programmes, improving public sector efficiency, and ensuring that the gains of reform are widely felt by citizens across the country.
The Ministry of Information and Civic Education has assured the public that it will continue to provide timely updates as the country approaches Budget Day and advances further engagements with the IMF. The government remains optimistic that the successful progression of the ECF reviews will help anchor confidence in Sierra Leone’s economic trajectory and attract additional international support.
As Sierra Leone continues on this path of reform and resilience, the IMF’s renewed backing represents both a validation of progress made and a catalyst for further economic strengthening.
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