By Sallieu S. Kanu
Freetown, February 26, 2026: The International Monetary Fund (IMF) has wrapped up its latest review mission on Sierra Leone’s Extended Credit Facility (ECF) program, assessing the country’s progress on key economic reforms and governance commitments.
Christian Saborowski, IMF Mission Chief for Sierra Leone, outlined the areas under review, including:
- Implementation of structural benchmarks and the Memorandum of Economic and Financial Policies (MEFP).
- Follow-up on Governance and Corruption Diagnostics (GCD).
- Advancements in Public Financial Management (PFM) reforms, particularly expenditure controls and budget transparency.
- Efforts in domestic revenue mobilization, broadening the tax base, and improving compliance.
- Strengthening public debt management and debt recording systems.
Finance Minister Sheku Ahmed Fantamadi Bangura expressed gratitude for IMF’s continued support, highlighting:
- Progress in reducing inflationary pressures through coordinated monetary policy with the Bank of Sierra Leone.
- Strengthened governance and transparency in public financial management.
- Implementation of GCD recommendations, including improved asset declaration compliance and stronger legal frameworks to reduce fiscal risks.
Bangura reaffirmed the government’s commitment to meeting outstanding benchmarks to sustain macroeconomic stability.
Financial Secretary Matthew Dingie commended the IMF team and urged all governance sectors to collaborate in implementing reforms.
The mission’s findings will inform the IMF’s formal review report, expected at the Spring Meetings in April 2026. This follows the IMF Executive Board’s completion of the first and second reviews in December 2025, which unlocked an immediate disbursement of US$79.8 million under the ECF program.