The International Monetary Fund (IMF) concluded a review mission on the progress of its Extended Credit Facility (ECF) Program in Sierra Leone on Thursday, 26th February 2026. The meeting took place at the Ministry of Finance Conference Hall on George Street, Freetown, and brought together IMF staff, senior government officials from the Ministry of Finance, Bank of Sierra Leone, National Revenue Authority, and other key stakeholders.
The Mission Chief for Sierra Leone, Christian Saborowski, explained that the mission focused on assessing progress on structural benchmarks and implementation of commitments under the Memorandum of Economic and Financial Policies (MEFP). Key areas of review included follow-up on Governance and Corruption Diagnostics (GCD) recommendations. Public Financial Management (PFM) reforms, including expenditure controls and budget transparency. Domestic revenue mobilization, with measures to broaden the tax base and enhance compliance
Public debt management, including steps to strengthen debt recording and monitoring
The Minister of Finance, Sheku Ahmed Fantamadi Bangura, expressed gratitude to the IMF for its continuous support in strengthening Sierra Leone’s economy. He highlighted progress in reducing inflationary pressures through prudent monetary policy coordination with the Bank of Sierra Leone, as well as efforts to enhance governance and transparency in public financial management.
Minister Bangura also noted that the government is implementing recommendations from the GCD report, including improvements in asset declaration and publication compliance frameworks, and strengthening legal and institutional frameworks to promote accountability and reduce fiscal risks. He reaffirmed the government’s commitment to meeting the remaining benchmarks to sustain macroeconomic stability and to continue technical support and policy coordination for ongoing reforms.
The Financial Secretary, Matthew Dingie, commended the IMF team and urged all sectors of government to collaborate in implementing the program’s reforms. The mission’s findings will inform the preparation of the formal review report for the IMF’s Spring Meeting scheduled for April 2026.
The IMF Executive Board previously completed the first and second reviews of Sierra Leone’s arrangement under the Extended Credit Facility Programme, leading to the immediate disbursement of US$79.8 million in December 2025.
This review mission underscores Sierra Leone’s ongoing commitment to macroeconomic stability, improved public financial management, and governance reforms under the IMF-supported program.
