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· The COVID -19 is taking a heavy toll on Sierra Leone’seconomy, coming after the Ebola health crisis, which had a massiveimpact on the fragile economy
· The IMF approved the disbursement of US$143 million under the Rapid Credit Facility to help the country come out of the fall out ofthe pandemic.
The COVID 19 is taking a heavy toll on Sierra Leone’s economy, coming after the Ebola health crisis, which had a massive impact on the fragile economy. The IMF approved the disbursement of US$143 million under the Rapid Credit Facility to help the country come out of the fall out of the pandemic.
The Executive Board of the International Monetary Fund (IMF) approved the disbursement of SDR 103.7 million (US$143 million or 50 percent of quota) under the Rapid Credit Facility (RCF) to Sierra Leone to help meet the urgent balance of payments and fiscal needs. The pandemic is disrupting the domestic activity and important mineral exports.
IMF staff are presently working closely with the authorities to provide technical and policy advice, as the number of COVID-19 cases
is increasing rapidly, threatening the fragile healthcare system. The IMF also advised the authorities to maintain macroeconomic
tability during the crisis and to continue strengthening governance by seeking IMF technical assistance to implement accountability and creating structures for emergency spending. The crisis also has led to a challenging balance of payments position. Exports from the country have come to a near halt, while imports have declined because of the severe foreign exchange crisis.
