A mission team from the International Monetary Fund (IMF) has concluded a visit to Sierra Leone, which took place from April 1 to 11, 2025.
The delegation, which engaged both virtually and in person with government officials, reviewed the country’s progress under its newly launched economic programme.
This visit comes months after the IMF approved a new three-year economic support programme for Sierra Leone in November 2024. Backed by the Extended Credit Facility (ECF), the programme is set to disburse approximately US$253 million between 2025 and 2027 to support the government’s ongoing reform agenda and efforts to stabilize the economy.
According to the IMF, Sierra Leone’s economy is showing signs of resilience. Economic growth reached 4.0% in 2024 and is forecast to rise to 4.5% this year. Inflation, which soared to 54.5% in October 2023, has dropped sharply to 13.1% as of February 2025. Meanwhile, the exchange rate has remained largely stable since mid-2023.
The government has made notable progress in reducing the budget deficit, cutting it from 6.1% of GDP in 2022 to 4.8% in 2024 through disciplined fiscal policies. However, increased capital investments in infrastructure and energy projects in late 2024 caused the government to miss targets in three key financial indicators: Net Credit to Government, Net Domestic Assets, and Net International Reserves.
In response, the IMF and Sierra Leonean authorities have agreed on a series of corrective measures. These include improving revenue collection and tightening public spending to meet performance benchmarks by June 2025—conditions necessary for the disbursement of this year’s IMF financial support.
Meeting these targets could also pave the way for further financial assistance from the World Bank and the European Union. In addition, it would enable Sierra Leone to advance discussions on accessing the IMF’s Resilience and Sustainability Facility, which could unlock an additional US$207 million to US$415 million for climate resilience and long-term development.
Government officials have reaffirmed their commitment to the economic programme and pledged to continue with the reforms needed to sustain stability, promote inclusive growth, and enhance the well-being of Sierra Leoneans.
