Freetown, 25th August 2025 – Sierra Leone’s external financial position weakened in early 2025, as new data from the Central Bank reveals a 5.3% drop in remittances, a 2.45% decline in foreign reserves and a dramatic collapse in foreign exchange inflows, all pointing to mounting pressure on the country’s ability to meet international obligations.
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FY2024: Cash Deficit Triples
Read MoreFreetown 25th August 2025- Sierra Leone’s public debt surged to NLE 61.1 billion by the end of December 2024, representing 37% of the country’s GDP, according to fiscal data from the country’s Ministry of Finance.
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Freetown 25th August 2025- Sierra Leone’s fiscal position took a sharp downturn in FY2024, with the government recording a staggering cash deficit of NLE 4.2 billion, culminating in a negative cash balance of NLE 5.9 billion by year-end. This marks a troubling shift in the country’s financial trajectory, raising urgent questions about budget discipline, debt sustainability, and the future of public service delivery.
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A total of 755 VSLA groups operated nationwide under SEND’s umbrella, collectively mobilizing a remarkable NLe 3,552,780 in 2024. This sum includes NLe 3,048,791 in direct savings, NLe 117,629 under the social fund, NLe 36,982 in fines, and NLe 349,378 accrued from interest payments a strong indicator of a maturing informal financial ecosystem at the community level.
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