Washington DC, April 14, 2026: Sierra Leone’s Minister of Finance, Sheku Ahmed Fantamadi Bangura, has reaffirmed the country’s commitment to sound economic management during the ongoing IMF/World Bank Spring Meetings in Washington DC.
Representing President Julius Maada Bio as head of Sierra Leone’s delegation, Minister Bangura briefed global economists, development partners, and financial institutions on reforms undertaken to strengthen public financial management. These include revisions to the Public Financial Management Act (2016), the Public Procurement Act (2016), and the Cash Management Forecasting and Government Financial Statistics Act (2014).
He highlighted progress made under President Bio’s leadership, citing improved macroeconomic fundamentals such as low inflation, a stable exchange rate, positive primary balance, and sustainable interest rates on government securities.
Minister Bangura commended the IMF’s Fiscal Affairs Department (FAD) for its technical support and appealed for continued assistance in strengthening Sierra Leone’s mining sector, particularly in areas of transfer pricing, advance pricing agreements, and tax reforms. He also called for support in reviewing the Income Tax Act (2000), the Excise Act (1998), and the mid-term review of the Medium-Term Revenue Strategy (2023–2027).
In response, IMF Fiscal Affairs Director Rodrigo Valdes praised Sierra Leone’s progress and assured continued collaboration. The Minister also held discussions with the IMF Country Team, led by Mission Chief Christian Saborowski, on the potential impact of the Middle East crisis on Sierra Leone’s economy and adjustments to the Extended Credit Facility (ECF) framework.
Mr. Saborowski acknowledged the challenges facing developing countries, noting the risks to food security and poverty reduction.
Additionally, Minister Bangura met with Dr. Zarau W. Kibwe, Executive Director of the Africa West 1 Constituency at the World Bank Group, to present Sierra Leone’s position on support mechanisms for developing countries amid global crises. He revealed that discussions are underway to utilize the Rapid Response Option (PRO) to cushion Sierra Leone against external shocks.
The Spring Meetings, running from April 13–18, bring together finance ministers, central bank governors, investors, civil society, and academics to deliberate on global economic stability, growth outlook, and poverty reduction strategies.