{"id":20217,"date":"2023-07-18T13:34:51","date_gmt":"2023-07-18T13:34:51","guid":{"rendered":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/bank-of-sierra-leone-takes-strong-measures-to-prevent-inflation-reoccurrence"},"modified":"2023-07-18T13:56:58","modified_gmt":"2023-07-18T13:56:58","slug":"bank-of-sierra-leone-takes-strong-measures-to-prevent-inflation-reoccurrence","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/bank-of-sierra-leone-takes-strong-measures-to-prevent-inflation-reoccurrence","title":{"rendered":"Bank of Sierra Leone Takes Strong Measures to Prevent Inflation Reoccurrence"},"content":{"rendered":"

Mohamed Foday Conteh<\/b><\/p>\n

Africa-Press – Sierra-Leone. <\/strong><\/span>The Bank of Sierra Leone have indicated their intention to institute strict measures against recurrence of inflation. <\/a>Sierra Leone recorded rising inflation and dwindling in value of its local currency in 2022. Authorities attributed the shocks to the protracted effect of the war in Ukraine and an after effect of the COVID-19 pandemic.<\/p>\n

But the West African nation has been performing well than the last three months of 2022 with the Leones performing better.The Acting Bank Governor, Ibrahim Stevens promised to implement measures that will contain inflation while upgrading government reserve safeguards.<\/p>\n

\u201cWe are committed to implementing macroeconomic policies that will help contain inflation and depreciation pressures, prevent crowding out of private credit, and strengthen debt sustainability,\u201d Stevens said.<\/p>\n

Sierra Leone\u2019s Central Bank have plans to restrict foreign exchange (FX) intervention according to limits set by the gross international reserves (GIR) directives. The plan, if instituted well, could see the country manage their foreign exchange reserve better.<\/p>\n

The local population was hopeful when the Central Bank embarked on the redenomination of the Leones about a year ago. They believe slashing the \u201czeros of shame\u201d will discourage hoarding which they suspected and further help the ailing economy at the time.<\/p>\n

Acting Bank Governor Stevens directed the Bank to prepare an internal audit. The audit will report on the status and assessment of the redenomination to Parliament.<\/p>\n

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

Mohamed Foday Conteh Africa-Press – Sierra-Leone. The Bank of Sierra Leone have indicated their intention to institute strict measures against recurrence of inflation. Sierra Leone recorded rising inflation and dwindling in value of its local currency in 2022. Authorities attributed the shocks to the protracted effect of the war in Ukraine and an after effect […]<\/p>\n","protected":false},"author":84,"featured_media":20215,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[291,293,292],"class_list":["post-20217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-sierra-leone","tag-sierra-leone"],"yoast_head":"\nBank of Sierra Leone Takes Strong Measures to Prevent Inflation Reoccurrence - Sierra Leone<\/title>\n<meta name=\"description\" content=\"The Bank of Sierra Leone have indicated their intention to institute strict measures against recurrence of inflation. <a ...\" \/>\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\/bank-of-sierra-leone-takes-strong-measures-to-prevent-inflation-reoccurrence\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank of Sierra Leone Takes Strong Measures to Prevent Inflation Reoccurrence\" \/>\n<meta property=\"og:description\" content=\"The Bank of Sierra Leone have indicated their intention to institute strict measures against recurrence of inflation. <a ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/bank-of-sierra-leone-takes-strong-measures-to-prevent-inflation-reoccurrence\" \/>\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=\"2023-07-18T13:34:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-18T13:56:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2023\/07\/sm_1689675959.246556.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\/bank-of-sierra-leone-takes-strong-measures-to-prevent-inflation-reoccurrence#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/bank-of-sierra-leone-takes-strong-measures-to-prevent-inflation-reoccurrence\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Bank of Sierra Leone Takes Strong Measures to Prevent Inflation Reoccurrence\",\"datePublished\":\"2023-07-18T13:34:51+00:00\",\"dateModified\":\"2023-07-18T13:56:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/bank-of-sierra-leone-takes-strong-measures-to-prevent-inflation-reoccurrence\"},\"wordCount\":251,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/bank-of-sierra-leone-takes-strong-measures-to-prevent-inflation-reoccurrence#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2023\/07\/sm_1689675959.246556.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Sierra-Leone\",\"Sierra-Leone\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/bank-of-sierra-leone-takes-strong-measures-to-prevent-inflation-reoccurrence#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/bank-of-sierra-leone-takes-strong-measures-to-prevent-inflation-reoccurrence\",\"url\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/bank-of-sierra-leone-takes-strong-measures-to-prevent-inflation-reoccurrence\",\"name\":\"Bank of Sierra Leone Takes Strong Measures to Prevent Inflation Reoccurrence - 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