Finance Minister Reassures Public: IMF Program Remains Active and Under Review

By Kadijatu Bangura, Reporter D.S.

Finance Minister Sheku Ahmed Fantamadi Bangura has dismissed rumors regarding the suspension of the International Monetary Fund (IMF) program with Sierra Leone, affirming that the program is active and currently undergoing its regular review process.

“There is no program suspension,” Minister Bangura stated. “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 elaborated that the first and second evaluations are being integrated, with discussions expected to continue during the IMF’s 2025 Spring Meetings, scheduled 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 approximately US$248.5 million. The program aims to restore economic stability by enhancing debt sustainability, correcting fiscal imbalances, lowering inflation, and rebuilding international reserves. It also seeks to promote inclusive growth through structural improvements and targeted social spending.

Minister Bangura emphasized that the IMF has not ceased its activities in Sierra Leone. “The IMF has not suspended its operations in Sierra Leone,” he reiterated. “We will continue to negotiate and fine-tune the actions that the administration will take to ensure that we remain on track.”

The ongoing review process is a critical component of IMF-supported programs, ensuring that agreed-upon changes and targets are met.

For more information, contact Daily Scope Newspaper at dailyscopemedia@gmail.com.

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