On Friday, the International Monetary Fund (IMF) announced that Sierra Leone has requested a new 38-month Extended Credit Facility (ECF) worth about $253 million.
The IMF indicated that its staff and Sierra Leonean authorities have reached a preliminary agreement on the economic policies and reforms that the facility could support, pending approval from the IMF’s Executive Board.
“The new ECF arrangement aims to restore stability by enhancing debt sustainability, addressing fiscal imbalances, reducing inflation, and rebuilding reserves,” the IMF stated.
Furthermore, the program is designed to promote inclusive growth through reforms and contribute to anti-corruption efforts, according to the announcement.
