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Finance Minister Sheku Ahmed Fantamadi Bangura has denied rumors that the International Monetary Fund has suspended its program with Sierra Leone, saying that the program is still alive and is now completing its regular review.
“There is no program suspension,” Minister Bangura said. “We have a program with the IMF running from November 2024 to November 2027. It is not suspended. The program is administered via reviews.”
He said that the first and second evaluations are being integrated, with conversations likely to continue during the IMF’s 2025 Spring Meetings, which run from April 21 to April 26.
“We’re going to the meetings right now. It will begin next week, on April 21. We will continue to negotiate and fine-tune the actions that the government will take to ensure that we stay on track,” he said.
In November 2024, the IMF approved Sierra Leone’s 38-month Extended Credit Facility arrangement, totaling roughly US$248.5 million. The program seeks to restore economic stability by improving debt sustainability, correcting fiscal imbalances, lowering inflation, and restoring international reserves. It also promotes inclusive growth by implementing structural improvements and targeted social spending.
Minister Bangura explained that the IMF has not ceased activities in Sierra Leone. “The IMF has not suspended its operations in Sierra Leone,” he said. “We will continue to negotiate and fine-tune the actions that the administration will take to ensure that we remain on track.”
The continuing review process is a part of IMF-supported programs, to make sure agreed-upon changes and targets are met.
