IMF Concludes Extended Credit Facility (ECF) Review Mission in Sierra Leone
The International Monetary Fund (IMF) has concluded a review mission assessing progress under Sierra Leone’s Extended Credit Facility (ECF) Programme. The mission ended on Thursday, 26th February 2026, at the Ministry of Finance Conference Hall on George Street, Freetown.
The meeting brought together IMF staff and senior government officials from the Ministry of Finance, the Bank of Sierra Leone (BSL), the National Revenue Authority (NRA), and other key government stakeholders.
The IMF Mission Chief for Sierra Leone, Christian Saborowski, stated that the primary objective of the mission was to assess progress on structural benchmarks and the implementation of commitments outlined in the Memorandum of Economic and Financial Policies (MEFP). The review also examined follow-up actions on the Governance and Corruption Diagnostics (GCD), Public Financial Management (PFM) reforms—including improvements in expenditure controls and budget transparency—domestic revenue mobilization measures to broaden the tax base and enhance compliance, public debt management, and steps taken to strengthen debt recording systems.
The Minister of Finance, Sheku Ahmed Fantamadi Bangura, expressed appreciation to the Fund for its continued support in strengthening Sierra Leone’s economy. He highlighted progress made in reducing inflationary pressures through prudent monetary policy coordination with the Bank of Sierra Leone, as well as improvements in governance and transparency within public financial management systems.
He further noted that the government is actively implementing recommendations from the Governance and Corruption Diagnostics (GCD) report, including progress in strengthening asset declaration and publication compliance frameworks, and enhancing legal and institutional mechanisms to promote accountability and mitigate fiscal risks.
Mr. Bangura reaffirmed the government’s commitment to meeting the remaining programme benchmarks in order to sustain macroeconomic stability. He also underscored the importance of continued technical support and policy coordination to maintain reform momentum.
The Financial Secretary, Matthew Dingie, commended the IMF team for its engagement and urged all sectors of government to work collaboratively in implementing the programme’s reforms.
The findings of the mission will inform the preparation of a formal review report ahead of the IMF/World Bank Spring Meetings scheduled for April this year.
It can be recalled that in December 2025, the Executive Board of the International Monetary Fund completed the first and second reviews of Sierra Leone’s arrangement under the Extended Credit Facility Programme, approving an immediate disbursement of US$79.8 million.
