IMF Completes ECF Review Mission in Freetown

On Thursday, 26 February 2026, the International Monetary Fund (IMF) concluded a review mission to assess progress under Sierra Leone’s Extended Credit Facility (ECF) programme. The closing event was held at the Ministry of Finance Conference Hall on George Street in Freetown, and it was attended by IMF staff as well as senior government officials from the Ministry of Finance, the Bank of Sierra Leone, the National Revenue Authority, and other key public-sector stakeholders.
Christian Saborowski, IMF Mission Chief for Sierra Leone, described the mission’s mandate, which includes assessing the implementation of the Memorandum of Economic and Financial Policies (MEFP) and reviewing progress against agreed-upon structural benchmarks. The mission evaluated follow-up actions on Governance and Corruption Diagnostics (GCD) recommendations, progress in public financial management (PFM) reforms, such as tighter expenditure controls and increased budget transparency, and measures to increase domestic revenue mobilisation by broadening the tax base and improving compliance. The review also highlighted public debt management, including measures to improve debt recording and monitoring.
Finance Minister Sheku Ahmed Fantamadi Bangura thanked the IMF for its ongoing technical and financial assistance and emphasised the government’s efforts to stabilise the macroeconomy. He cited a reduction in inflationary pressures as a result of close policy coordination with the Bank of Sierra Leone, as well as ongoing reforms aimed at improving governance and transparency in public finance. The minister stated that the government is actively implementing GCD recommendations, reporting progress in strengthening asset declaration and publication frameworks, as well as improving legal and institutional arrangements to increase accountability and reduce fiscal risks.
Minister Bangura reaffirmed the government’s commitment to meeting the remaining programme benchmarks in order to maintain macroeconomic stability and maintain open policy dialogue with the IMF and other partners.
Financial Secretary Matthew Dingie praised the IMF team’s participation and called for broad collaboration among government institutions to fully implement the ECF reform agenda.
The mission’s findings will be used to prepare a formal review report for the IMF’s Spring Meetings in April 2026. Separately, the IMF Executive Board completed the first and second reviews of Sierra Leone’s ECF arrangement and approved an immediate disbursement of US$79.8 million in December 2025 to help the country’s ongoing reform efforts.