Freetown, 30th September 2025- A mission from the International Monetary Fund (IMF) has begun the first and second reviews of Sierra Leone’s $248.5 million Extended Credit Facility (ECF) programme, approved in October 2024. The programme’s initial disbursement of $46.6 million was released immediately following approval, with further disbursements contingent on performance reviews and structural benchmarks.
The two-week review, which commenced on Monday, 29th September 2025, will assess both technical and policy aspects of the ECF. According to IMF Head of Mission Garth Peron Nicholls, discussions will cover key macroeconomic indicators including revenue generation, expenditure controls, domestic interest rates, financing needs, and tax reform strategies. The review will also extend to the Resilience and Sustainability Facility (RSF), a complementary IMF instrument focused on climate-related structural reforms.
Financial Secretary Matthew Dingie welcomed the IMF delegation, affirming the government’s readiness to support the review process with all necessary data. He reported that inflation has moderated to 5.85%, domestic interest rates have declined, and the exchange rate remains stable. Despite shortfalls in revenue targets, the Ministry of Finance has implemented expenditure rationalization measures to maintain fiscal discipline.
Dingie expressed confidence that recent revenue-enhancing measures will enable the National Revenue Authority to meet its targets by the end of Q3. He emphasized that the outcome of these reviews is critical to unlocking the next tranche of ECF funding and advancing the RSF programme.
Sierra Leone is currently preparing a formal request for RSF access. If approved at 75% of the country’s IMF quota, the RSF could provide approximately $210 million in additional financing. The technical mission will finalize reform details, including implementation timelines, responsible agencies, and coordination mechanisms.
The combined reviews will also evaluate progress on corrective actions and structural benchmarks agreed with the IMF, all of which must be met by the end of November 2025 to qualify for the next disbursement.
