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The Minister of Finance, Sheku Fantamadi Bangura, stated at the just-conluded Civic Day Series in the US, that Sierra Leone’s economy is performing well due to a dramatic drop in inflation and stable relations with development partners.
Minister Bangura reassured Sierra Leoneans in the diaspora that the economy is on a strong footing, citing specific data to underscore the turnaround.
He further highlighted the successful efforts implemented to control inflation, which has seen a remarkable decline from 5.4% in 2023 to 5.8% in August 2025. This figure is corroborated by Statistics Sierra Leone’s Monthly Consumer Price Index, which lists the inflation rate for August 2025 at 5.85%. This achievement is part of a broader trend, as the country’s inflation rate had already been reduced to 13.8% by December 2024, thanks to tighter monetary policy and a stable exchange rate.
“The drop in inflation has had a direct impact on the cost of living.’’ He said. The minister reported reduced prices for key commodities such as rice, fuel, and flour, attributing this progress to increased market competition. Furthermore, he emphasised that the country has maintained a stable exchange rate for over two years, providing predictability for businesses and consumers alike.
Assuring Sierra Leonean diasporans in the US, Minister Bangura reaffirmed the government’s cordial relations with major development partners, confirming that programs with the International Monetary Fund (IMF), the World Bank, the European Union, and other development partners remain on track.
