{"id":12193,"date":"2022-12-13T17:56:19","date_gmt":"2022-12-13T17:56:19","guid":{"rendered":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/imf-staff-completes-mission-to-sierra-leone"},"modified":"2022-12-13T18:16:29","modified_gmt":"2022-12-13T18:16:29","slug":"imf-staff-completes-mission-to-sierra-leone","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/imf-staff-completes-mission-to-sierra-leone","title":{"rendered":"IMF Staff Completes Mission to Sierra Leone"},"content":{"rendered":"

Africa-Press – Sierra-Leone. <\/strong><\/span>A group of staff of the International Monetary Fund (IMF) mission, led by Christian Saborowski has completed their mission in Sierra Leone.<\/p>\n

<\/a>The mission visited Freetown from November 30 to December 9, 2022, for the sixth review of Sierra Leone\u2019s financial and economic program supported by the Extended Credit Facility (ECF). The ECF arrangement for Sierra Leone was approved on November 30, 2018.<\/p>\n

At the end of the mission, Mr. Saborowski issued the following statement:\u201cDuring this mission, the IMF team and the authorities discussed macroeconomic developments, against a challenging global backdrop. Sierra Leone\u2019s macroeconomic outlook has weakened since the completion of 5 th ECF review in July. Russia\u2019s war in Ukraine and related sanctions have contributed to exchange rate depreciation, rising inflation, and expenditure pressures. A larger-than-expected terms-of-trade decline and rising prices have weighed on demand. Food insecurity has intensified.<\/p>\n

\u201cThe authorities and the IMF team also discussed the authorities\u2019 progress on the structural reform agenda, as well as measures to contain budgetary pressures, maintain debt sustainability, mobilize domestic revenues, strengthen public financial management, address inflationary pressures, and foster financial stability. Discussions, including on overall progress in the context of the 6th review of the ECF arrangement, will continue over the coming weeks.<\/p>\n

\u201cThe mission met with Minister of Finance Dennis K. Vandi, Deputy Ministers Sheku A. F. Bangura and Bockarie Kalokoh, Deputy Governors Ibrahim L. Stevens and Sheikh A. Y. Sesay, senior government officials, members of the private sector, civil society organizations, and development partners.<\/p>\n

The mission wishes to thank the Sierra Leonean authorities for the warm welcome, constructive discussions, and the positive spirit of cooperation.\u201d<\/p>\n

The Extended Credit Facility (ECF) is the IMF\u2019s main tool for medium-term financial support to low-income countries. It provides for a higher level of access to financing, more concessional terms, enhanced flexibility in program design, and more focused, streamlined conditionality. Financing under ECF currently carries a zero-interest rate, with a grace period of 51\u20442 years, and a final maturity of 10 years.<\/p>\n

For More News And Analysis About Sierra-Leone<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Sierra-Leone. A group of staff of the International Monetary Fund (IMF) mission, led by Christian Saborowski has completed their mission in Sierra Leone. The mission visited Freetown from November 30 to December 9, 2022, for the sixth review of Sierra Leone\u2019s financial and economic program supported by the Extended Credit Facility (ECF). The […]<\/p>\n","protected":false},"author":84,"featured_media":12192,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[291,293,292],"class_list":["post-12193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-sierra-leone","tag-sierra-leone"],"yoast_head":"\nIMF Staff Completes Mission to Sierra Leone - Sierra Leone<\/title>\n<meta name=\"description\" content=\"A group of staff of the International Monetary Fund (IMF) mission, led by Christian Saborowski has completed their missi ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/imf-staff-completes-mission-to-sierra-leone\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF Staff Completes Mission to Sierra Leone\" \/>\n<meta property=\"og:description\" content=\"A group of staff of the International Monetary Fund (IMF) mission, led by Christian Saborowski has completed their missi ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/imf-staff-completes-mission-to-sierra-leone\" \/>\n<meta property=\"og:site_name\" content=\"Sierra Leone\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-13T17:56:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-13T18:16:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2022\/12\/postQueueImg_1670941655.11.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/imf-staff-completes-mission-to-sierra-leone#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/imf-staff-completes-mission-to-sierra-leone\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"IMF Staff Completes Mission to Sierra Leone\",\"datePublished\":\"2022-12-13T17:56:19+00:00\",\"dateModified\":\"2022-12-13T18:16:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/imf-staff-completes-mission-to-sierra-leone\"},\"wordCount\":345,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/imf-staff-completes-mission-to-sierra-leone#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2022\/12\/postQueueImg_1670941655.11.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Sierra-Leone\",\"Sierra-Leone\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/imf-staff-completes-mission-to-sierra-leone#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/imf-staff-completes-mission-to-sierra-leone\",\"url\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/imf-staff-completes-mission-to-sierra-leone\",\"name\":\"IMF Staff Completes Mission to Sierra Leone - 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