A mission from the International Monetary Fund (IMF) has commenced the first and second reviews of Sierra Leone’s $248.5 million Extended Credit Facility (ECF), approved in October 2024 with an initial disbursement of $46.6 million.
The review, which spans two weeks, will assess both technical and policy issues, including revenue performance, expenditure management, domestic interest rates, financing needs and tax reforms. Discussions will also extend to the Resilience and Sustainability Facility (RSF), an IMF instrument focused on climate-related structural reforms.
Speaking during a courtesy meeting with the Financial Secretary and senior Ministry of Finance officials on Monday, 29th September 2025, Head of Mission Garth Peron Nicholls reaffirmed the programme’s objectives of restoring debt sustainability, keeping inflation low, building reserves and strengthening governance through institutional reforms.
Financial Secretary Matthew Dingie welcomed the delegation, expressing confidence in the government’s preparedness for the process.
He highlighted recent gains, including inflation at 5.85%, exchange rate stability, reduced interest rates and rationalised expenditure despite revenue shortfalls.
The reviews will determine Sierra Leone’s eligibility for a second disbursement under the ECF and advance preparations for an RSF request estimated at USD 210 million, equivalent to 75% of the country’s IMF quota.
Dingie stressed that with ongoing revenue measures, the National Revenue Authority is expected to catch up by the end of the third quarter. Both programmes, he said, are critical to sustaining economic recovery and ensuring the successful implementation of agreed structural benchmarks by November 2025.
