Following a high-level meeting with an IMF mission in Sierra Leone, President Dr Julius Maada Bio reaffirmed his administration’s commitment to continuing fiscal and structural reforms and meeting the targets of the International Monetary Fund-supported Extended Credit Facility (ECF). The delegation, led by Christian Saborowski, commended the government for making significant progress in stabilising the economy and implementing key policy measures despite adverse global conditions.
Mr Saborowski informed the President that the IMF was impressed by Sierra Leone’s recent macroeconomic performance, pointing out that only a few countries had achieved comparable gains regionally and globally. He cited several tangible results from the government’s reform agenda, including lower inflation, lower borrowing costs for government debt, improved exchange rate stability, stronger fiscal balances, and easier access to credit for the private sector.
These developments, he said, show that policy changes are beginning to produce measurable results.
In response, President Bio welcomed the IMF team and thanked the Fund for its ongoing support for Sierra Leone’s economic recovery. He thanked the IMF for facilitating the successful completion of the ECF’s first and second reviews by the IMF Executive Board, which resulted in a disbursement of US$89.8 million to help implement the 2025 budget. The President described this assistance as critical to the country’s fiscal strategy and policy credibility.
President Bio highlighted concrete program milestones, noting that Sierra Leone had met two of the three Quantitative Performance Criteria as of the end of December 2025 and all of the indicative targets for the end of March 2026. He attributed these results to ongoing fiscal discipline, prudent macroeconomic management, and the continued implementation of structural reforms aimed at strengthening public finances and promoting private-sector-led growth.
The President emphasised that maintaining a healthy and credible economy is critical for maintaining trust among international development partners such as the World Bank, the European Union, and the African Development Bank. He emphasised that continued IMF engagement and successful program reviews will be critical in unlocking additional concessional financing, restoring investor confidence, and accelerating Sierra Leone’s overall development agenda.
Looking ahead, President Bio expressed confidence in completing the ECF’s third review and receiving approval for the IMF’s Resilience and Sustainability Facility (RSF). He stated that the RSF would provide additional funding for climate resilience initiatives and long-term economic sustainability goals.
The meeting reaffirmed Sierra Leone’s strong partnership with the IMF, as the government works to consolidate macroeconomic gains, protect vulnerable citizens, and build a more resilient, inclusive economy. Both sides expressed a desire to maintain reform momentum to ensure that recent gains translate into long-term growth and higher living standards for Sierra Leoneans.
