Abstract
First Review Under the Extended Credit Facility Arrangement
Relations with the Fund
(As of April 30, 2014)
Membership Status: Joined 9/10/62; Article VIII
| General Resources Account: | SDR Million | % Quota |
|---|---|---|
| Quota | 103.70 | 100.00 |
| Fund holdings of currency | 103.69 | 99.99 |
| Reserve position | 0.02 | 0.02 |
| General Resources Account: | SDR Million | % Quota |
|---|---|---|
| Quota | 103.70 | 100.00 |
| Fund holdings of currency | 103.69 | 99.99 |
| Reserve position | 0.02 | 0.02 |
| SDR Department: | SDR Million | % Allocation |
|---|---|---|
| Net cumulative allocation | 99.51 | 100.00 |
| Holdings | 106.75 | 107.28 |
| SDR Department: | SDR Million | % Allocation |
|---|---|---|
| Net cumulative allocation | 99.51 | 100.00 |
| Holdings | 106.75 | 107.28 |
| Outstanding Purchases and Loans: | SDR Million | % Quota |
|---|---|---|
| ECF Arrangements | 82.62 | 79.67 |
| Outstanding Purchases and Loans: | SDR Million | % Quota |
|---|---|---|
| ECF Arrangements | 82.62 | 79.67 |
Latest Financial Arrangements:
Projected Payments to Fund2
(SDR million; based on current use of resources and present holdings of SDRs):
| Forthcoming | ||||||
| 2014 | 2015 | 2016 | 2017 | 2018 | ||
| Principal | 7.68 | 9.86 | 11.68 | 12.11 | 12.99 | |
| Charges/Interest | 0.00 | 0.18 | 0.15 | 0.12 | 0.09 | |
| Total | 7.68 | 10.04 | 11.83 | 12.23 | 13.08 | |
| Forthcoming | ||||||
| 2014 | 2015 | 2016 | 2017 | 2018 | ||
| Principal | 7.68 | 9.86 | 11.68 | 12.11 | 12.99 | |
| Charges/Interest | 0.00 | 0.18 | 0.15 | 0.12 | 0.09 | |
| Total | 7.68 | 10.04 | 11.83 | 12.23 | 13.08 | |
Implementation of HIPC Initiative:
| Enhanced Framework | |||||||||
| Commitment of HIPC Initiative assistance | |||||||||
| Decision point date | March 2002 | ||||||||
| Assistance committed (NPV terms) | |||||||||
| By all creditors (US$ million)3 | 675.20 | ||||||||
| Of which: IMF assistance (US$ million) | 125.21 | ||||||||
| (SDR equivalent in millions) | 100.00 | ||||||||
| Completion point date | December 2006 | ||||||||
| Disbursement of IMF assistance (SDR million) | |||||||||
| Amount disbursed | 100.00 | ||||||||
| Interim assistance | 66.03 | ||||||||
| Completion point balance | 33.97 | ||||||||
| Additional disbursement of interest income4 | 6.58 | ||||||||
| Total disbursements | 106.58 | ||||||||
| Implementation of Multilateral Debt Relief Initiative (MDRI): | ||||||
| I. MDRI-eligible debt (SDR Million)5 | 117.34 | |||||
| Financed by: MDRI Trust | 76.75 | |||||
| Remaining HIPC resources | 40.59 | |||||
| II. Debt Relief by facility (SDR Million) | ||||||
| Eligible Debt | ||||||
| Delivery Date | GRA | PRGT | Total | |||
| December 2006 | N/A | 117.34 | 117.34 | |||
| Enhanced Framework | |||||||||
| Commitment of HIPC Initiative assistance | |||||||||
| Decision point date | March 2002 | ||||||||
| Assistance committed (NPV terms) | |||||||||
| By all creditors (US$ million)3 | 675.20 | ||||||||
| Of which: IMF assistance (US$ million) | 125.21 | ||||||||
| (SDR equivalent in millions) | 100.00 | ||||||||
| Completion point date | December 2006 | ||||||||
| Disbursement of IMF assistance (SDR million) | |||||||||
| Amount disbursed | 100.00 | ||||||||
| Interim assistance | 66.03 | ||||||||
| Completion point balance | 33.97 | ||||||||
| Additional disbursement of interest income4 | 6.58 | ||||||||
| Total disbursements | 106.58 | ||||||||
| Implementation of Multilateral Debt Relief Initiative (MDRI): | ||||||
| I. MDRI-eligible debt (SDR Million)5 | 117.34 | |||||
| Financed by: MDRI Trust | 76.75 | |||||
| Remaining HIPC resources | 40.59 | |||||
| II. Debt Relief by facility (SDR Million) | ||||||
| Eligible Debt | ||||||
| Delivery Date | GRA | PRGT | Total | |||
| December 2006 | N/A | 117.34 | 117.34 | |||
Safeguards Assessment:
The 2014 safeguards assessment of the Bank of Sierra Leone found that it continues to improve certain elements of the safeguards framework, namely the legal framework and the internal audit function, and financial statements continue to be prepared and audited in accordance with international standards and were published in a timely manner on the BSL website. Continuance in oversight was a concern however, with the Deputy Governor position remaining vacant for an extended period and the expiration of a majority of Board members non-renewable terms in 2014. External audit oversight also needed strengthening and there were delays in the expected recapitalization of the BSL.
Exchange Rate Arrangement:
For customs valuation purposes and for official transactions, the Bank of Sierra Leone (BSL) calculates an official exchange rate every Friday morning as the weighted average of the auction rate, the commercial bank mid-rate, and the bureau mid-rate in the previous week. Commercial banks may buy foreign exchange from and sell it to individual customers and may trade among themselves or with the BSL on a freely negotiable basis. As of May 29, 2014, the BSL mid rate was Le 4,366.87=US$1.
Sierra Leone’s de jure exchange rate regime is classified as floating, with the value of the leone determined by the market. Furthermore, effective November 1, 2008, the de facto exchange rate arrangement has been reclassified to ‘floating’ from a ‘stabilized arrangement’.
With effect December 14, 1995, Sierra Leone has accepted the obligations of Article VIII, Sections 2, 3, and 4, and maintains an exchange system free of restrictions on the making of payments and transfers for current international transactions. Sierra Leone maintains one multiple currency practice subject to Fund jurisdiction arising from the applied multiple-price Dutch auction system, as there is no formal mechanism in place to prevent spreads of effective rates between winning bids from exceeding 2 percent.
Article IV Consultation:
The Executive Board concluded the 2013 Article IV consultation on October 21, 2013. The next Article IV consultation will be held in accordance with the 2010 decision on consultation cycles.
Technical Assistance:
| Department | Purpose | Date |
|---|---|---|
| FAD | Tax Policy under Module 1 of the Managing Natural Resource Wealth (MNRW) project | June, October 2013; January 2014 |
| EI Revenue Administration | December 2013 | |
| EI Macro-Fiscal, PFM, and Expenditure Policy | April 2013 | |
| EI Revenue Administration | August 2012 | |
| EI Macro-Fiscal, PFM, and Expenditure Policy | Feb, September 2012 | |
| EI Fiscal Regimes Follow-Up | Feb, August 2012 | |
| Post-GST Implementation Review | February 2012 | |
| Terms of Draft EI Revenue Act (EIRA) | January, July 2012 | |
| MCM | Monetary and Forex Operations | February 2014 |
| Financial Stability Analysis | October 2013 | |
| Medium-term Debt management Strategy | January 2013 | |
| Liquidity Forecasting and Development of Interbank Foreign Exchange Market | July 2012; January 2013 | |
| TA Needs Assessment Mission | February 2012 | |
| STA | Price Statistics | April 2014 |
| Annual National Accounts Statistics Module Mission within the Enhanced Data Dissemination Initiative Project for Africa | July, August 2013 | |
| National Accounts under Module 5 within the Managing Natural Resource Wealth (MNRW) project, | April, May 2013 | |
| Consumer Price Index | August 2012 | |
| SRF Data Development | August 2012 | |
| Monetary and Financial Statistics Mission under the Enhanced Data Dissemination Initiative (EDDI) Project for Africa. | August 2012 |
| Department | Purpose | Date |
|---|---|---|
| FAD | Tax Policy under Module 1 of the Managing Natural Resource Wealth (MNRW) project | June, October 2013; January 2014 |
| EI Revenue Administration | December 2013 | |
| EI Macro-Fiscal, PFM, and Expenditure Policy | April 2013 | |
| EI Revenue Administration | August 2012 | |
| EI Macro-Fiscal, PFM, and Expenditure Policy | Feb, September 2012 | |
| EI Fiscal Regimes Follow-Up | Feb, August 2012 | |
| Post-GST Implementation Review | February 2012 | |
| Terms of Draft EI Revenue Act (EIRA) | January, July 2012 | |
| MCM | Monetary and Forex Operations | February 2014 |
| Financial Stability Analysis | October 2013 | |
| Medium-term Debt management Strategy | January 2013 | |
| Liquidity Forecasting and Development of Interbank Foreign Exchange Market | July 2012; January 2013 | |
| TA Needs Assessment Mission | February 2012 | |
| STA | Price Statistics | April 2014 |
| Annual National Accounts Statistics Module Mission within the Enhanced Data Dissemination Initiative Project for Africa | July, August 2013 | |
| National Accounts under Module 5 within the Managing Natural Resource Wealth (MNRW) project, | April, May 2013 | |
| Consumer Price Index | August 2012 | |
| SRF Data Development | August 2012 | |
| Monetary and Financial Statistics Mission under the Enhanced Data Dissemination Initiative (EDDI) Project for Africa. | August 2012 |
Resident Representative:
Mr. Francis Kumah assumed responsibility for the Fund office in Freetown in November 2010.
Joint World Bank-IMF Work Program, 2014–15
| Title | Activities | Provisional Timing of Mission | Expected Delivery Date |
|---|---|---|---|
| A. Mutual Information on Relevant Work Programs | |||
| World Bank work program | IPFMRP (PFM Project) Supervision | Feb, Jun 2014 | Aug 2014 |
| PFMICP (New PFM Project) Preparation | Aug, Nov 2014; Mar, Jun, Sep 2015 | Aug 2019 | |
| Financial Sector TA Project | Aug, Nov 2014; Mar, Sep 2015 | N/A | |
| Mining Sector TA Project | Jun, Oct 2014; Feb, Sep 2015 | N/A | |
| Sixth Governance Reform and Growth Credit (GRGC-6) | Feb 2014 | Apr 2014 | |
| Pay and Performance Project | Feb, Sep, Dec 2014; Mar, Jun, Oct 2015 | Jul 2016 | |
| Technical Assistance: | |||
| Anti Corruption Commission | Feb 2014 | N/A | |
| Household Survey | Apr, Sep 2014 Feb, May 2015 | N/A | |
| AML/CFT, Law, Transnational Organized Crime Unit, Nuclear Non-Proliferation Framework | Feb, May, Sep 2014; Mar 2015 | N/A | |
| Anti-Corruption, asset disclosure system | Feb, Sep 2014 | N/A | |
| Public Investment Management | May, Sep 2014; Feb 2015 | N/A | |
| Revenue Administration | Oct 2014; Apr 2015 | N/A | |
| IMF work program | First Review of the ECF Arrangement | May 2014 | May 2014 |
| Technical Assistance: | |||
| FAD | |||
| Customs compliance enforcement and risk management | May, August 2014 | N/A | |
| TSA | May, September 2014; March 2015 | ||
| EI Revenue Administration | June, Nov 2014; February 2015 | N/A | |
| Fiscal reporting | July 2014 | ||
| PFM: Legal framework | May, August 2014; April 2015 | ||
| Tax policy | October 2014 | ||
| PFM: Medium-term expenditure framework | June, October 2014; January 2015 | ||
| Program-based budgeting | November 2014 | ||
| TA in Fiscal Law: Natural Resource Taxation | December 2014 | N/A | |
| MCM | |||
| Assessment of FX measures | July 2014 | N/A | |
| Accounting and Auditing | July 2014 | ||
| Medium-term Debt Management Strategy Formulation | July 2014 | ||
| Finalizing the Foreign Exchange Act | July 2014 | ||
| Debt Market Development | September 2014 | ||
| Financial Stability | October 2013 | ||
| Foreign Exchange Market Development | July, December 2014 | ||
| Monetary Operations | July, December 2014; February 2015 | ||
| STA | |||
| Open Data Initiative | May 2014 | ||
| Accounts for Natural Resources | June 2014 | ||
| National Accounts | November 2014; April 2015 | N/A | |
| Monetary Data Reported in Staff Reports | January 2015 | ||
| B. Agreement on Joint Products and Missions | |||
| Joint products in 2014 | Assisting the authorities with the implementation of their financial sector reform strategy | Continuous | |
| Title | Activities | Provisional Timing of Mission | Expected Delivery Date |
|---|---|---|---|
| A. Mutual Information on Relevant Work Programs | |||
| World Bank work program | IPFMRP (PFM Project) Supervision | Feb, Jun 2014 | Aug 2014 |
| PFMICP (New PFM Project) Preparation | Aug, Nov 2014; Mar, Jun, Sep 2015 | Aug 2019 | |
| Financial Sector TA Project | Aug, Nov 2014; Mar, Sep 2015 | N/A | |
| Mining Sector TA Project | Jun, Oct 2014; Feb, Sep 2015 | N/A | |
| Sixth Governance Reform and Growth Credit (GRGC-6) | Feb 2014 | Apr 2014 | |
| Pay and Performance Project | Feb, Sep, Dec 2014; Mar, Jun, Oct 2015 | Jul 2016 | |
| Technical Assistance: | |||
| Anti Corruption Commission | Feb 2014 | N/A | |
| Household Survey | Apr, Sep 2014 Feb, May 2015 | N/A | |
| AML/CFT, Law, Transnational Organized Crime Unit, Nuclear Non-Proliferation Framework | Feb, May, Sep 2014; Mar 2015 | N/A | |
| Anti-Corruption, asset disclosure system | Feb, Sep 2014 | N/A | |
| Public Investment Management | May, Sep 2014; Feb 2015 | N/A | |
| Revenue Administration | Oct 2014; Apr 2015 | N/A | |
| IMF work program | First Review of the ECF Arrangement | May 2014 | May 2014 |
| Technical Assistance: | |||
| FAD | |||
| Customs compliance enforcement and risk management | May, August 2014 | N/A | |
| TSA | May, September 2014; March 2015 | ||
| EI Revenue Administration | June, Nov 2014; February 2015 | N/A | |
| Fiscal reporting | July 2014 | ||
| PFM: Legal framework | May, August 2014; April 2015 | ||
| Tax policy | October 2014 | ||
| PFM: Medium-term expenditure framework | June, October 2014; January 2015 | ||
| Program-based budgeting | November 2014 | ||
| TA in Fiscal Law: Natural Resource Taxation | December 2014 | N/A | |
| MCM | |||
| Assessment of FX measures | July 2014 | N/A | |
| Accounting and Auditing | July 2014 | ||
| Medium-term Debt Management Strategy Formulation | July 2014 | ||
| Finalizing the Foreign Exchange Act | July 2014 | ||
| Debt Market Development | September 2014 | ||
| Financial Stability | October 2013 | ||
| Foreign Exchange Market Development | July, December 2014 | ||
| Monetary Operations | July, December 2014; February 2015 | ||
| STA | |||
| Open Data Initiative | May 2014 | ||
| Accounts for Natural Resources | June 2014 | ||
| National Accounts | November 2014; April 2015 | N/A | |
| Monetary Data Reported in Staff Reports | January 2015 | ||
| B. Agreement on Joint Products and Missions | |||
| Joint products in 2014 | Assisting the authorities with the implementation of their financial sector reform strategy | Continuous | |
Statistical Issues
As of May 1, 2014
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data provision is broadly adequate for surveillance with some key data shortcomings in national accounts, fiscal, monetary, and external sector statistics. A major and sustained improvement in the coverage and timeliness of economic data will require greater interagency coordination and restructuring of the institutional framework. | |
| National Accounts: Statistics Sierra Leone (SSL) produces and disseminates GDP estimates by activity in value and constant prices of 2006, according to the 1993 SNA. Under the DFID-funded project annual GDP estimates have been improved, especially regarding the compilation of construction, estimation of informal sector activity, measurement of government services, agricultural production, household final consumption, and constant price gross domestic product (GDP). Remaining issues concern developing better data sources for agricultural and mineral production, and generally continuing the improvement of informal sector measurement. However, shortages of resources and staff continue to pose major constraints to the statistical development undertaken by SSL. | |
| Price Statistics: The SSL compiles the CPI monthly and publishes it with a lag of about three weeks. It has been rebased to 2007 using the 2007 Sierra Leone integrated household survey and continues to cover the capital city and three main districts. While a national CPI is being compiled, the authorities continue to publish the old CPI (1992=100). They have requested technical assistance for the preparation and adoption of a single index. Technical assistance missions last visited Freetown in April 2014 to review the CPI and to advice on the development of a producer price index (PPI). The authorities are working to improve the calculation methods for the CPI and procedures to aggregate regional CPIs to obtain the national index. Regarding the new PPI, the Authorities have developed the index weights, selected a representative sample of establishments, and selected representative products and transactions for price collection. A work plan, in the form of Project Framework Summary, was drafted and agreed with the authorities for the preparation of this new PPI. |
|
| Government Finance Statistics: The budget reporting system was established with assistance from the Fund/UNDP technical assistance project. Monthly cash flow data on central government budgetary revenue, current expenditure, and financing are provided. The transaction coverage of the central government budgetary cash flow is incomplete. There is an urgent need for more timely and accurate data on foreign-financed development projects. Reports on implementation of the development budget and its financing are currently not produced in a format that is suitable for budget analysis because the necessary data are not available. The authorities are currently considering the introduction of a flash reporting system for government expenditure in general and for foreign aid-financed projects, in particular. As part of the GDDS regional project for Anglophone African countries, work has been undertaken to reconcile fiscal and monetary data and to improve the coverage and classification of the two data sets. With the current drive towards decentralization and the growing role of local government, there is an urgent need to compile and monitor the operations (and financial balance sheet data) for the consolidated general government. |
|
| Financial sector surveillance: Sierra Leone does not participate in the IMF’s Coordinated Direct Investment Survey (CDIS), Coordinated Portfolio Investment Survey (CPIS) and Financial Soundness Indicators (FSIs) databases. | |
| Monetary and Financial Statistics: The main components of the central bank balance sheet are available daily and weekly under the early warning system on key financial targets. The full monetary survey is compiled by the Bank of Sierra Leone (BSL) with a lag of about six weeks; it has comprehensive coverage of commercial banks. Significant progress has been made by the BSL in the compilation of monetary data. The BSL, with assistance from STA, has completed the migration to standardized report forms (SRFs) for the central bank and other depository corporations (ODCs). However, there is a need to expand the coverage of monetary and financial statistics by including data on other financial institutions. |
|
| External sector statistics: The BSL is responsible for compiling BOP and IIP statistics, which are currently prepared on an annual basis. Primary data sources are administrative-based data (BSL own records, line ministries, and Customs and Excise Department (Customs) records), partner-country and international organizations data, and the annual survey of major companies for estimates on services, income, and financial flows relating to direct, portfolio, and other investments. External transactions are characterized by a large volume of activities in the informal sector. Trade data include some estimates for unrecorded diamond exports—by deducting official diamonds export figures from trading partners’ official diamonds imports from Sierra Leone. Coverage issues also exist for services, primary and secondary income, and capital and financial accounts. Information on official grant and loan receipts is of generally good quality and is prepared by the IMF African Department (AFR) staff on the basis of contacts with the authorities and donor agencies. Data on private financial flows should be improved; Information on financial transactions of banks are obtained directly from commercial bank records; entries are estimated as differences in amounts of outstanding foreign assets and liabilities of commercial banks and may thus include valuation and other changes. While the authorities are producing data on the IIP, the coverage as well as the consistency with BOP data should be improved. |
|
| II. Data Standards and Quality | |
| Sierra Leone is participant in the General Data Dissemination System (GDDS) since 2003. | No data ROSC is available. |
| III. Reporting to STA | |
| Data are reported for publication in the Government Finance Statistics Yearbook, with the most recent data referring to 2012, but no sub-annual data are reported for inclusion in the International Financial Statistics. The BSL started reporting monetary data in the SRF-format to the IMF in April 2010. |
|
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data provision is broadly adequate for surveillance with some key data shortcomings in national accounts, fiscal, monetary, and external sector statistics. A major and sustained improvement in the coverage and timeliness of economic data will require greater interagency coordination and restructuring of the institutional framework. | |
| National Accounts: Statistics Sierra Leone (SSL) produces and disseminates GDP estimates by activity in value and constant prices of 2006, according to the 1993 SNA. Under the DFID-funded project annual GDP estimates have been improved, especially regarding the compilation of construction, estimation of informal sector activity, measurement of government services, agricultural production, household final consumption, and constant price gross domestic product (GDP). Remaining issues concern developing better data sources for agricultural and mineral production, and generally continuing the improvement of informal sector measurement. However, shortages of resources and staff continue to pose major constraints to the statistical development undertaken by SSL. | |
| Price Statistics: The SSL compiles the CPI monthly and publishes it with a lag of about three weeks. It has been rebased to 2007 using the 2007 Sierra Leone integrated household survey and continues to cover the capital city and three main districts. While a national CPI is being compiled, the authorities continue to publish the old CPI (1992=100). They have requested technical assistance for the preparation and adoption of a single index. Technical assistance missions last visited Freetown in April 2014 to review the CPI and to advice on the development of a producer price index (PPI). The authorities are working to improve the calculation methods for the CPI and procedures to aggregate regional CPIs to obtain the national index. Regarding the new PPI, the Authorities have developed the index weights, selected a representative sample of establishments, and selected representative products and transactions for price collection. A work plan, in the form of Project Framework Summary, was drafted and agreed with the authorities for the preparation of this new PPI. |
|
| Government Finance Statistics: The budget reporting system was established with assistance from the Fund/UNDP technical assistance project. Monthly cash flow data on central government budgetary revenue, current expenditure, and financing are provided. The transaction coverage of the central government budgetary cash flow is incomplete. There is an urgent need for more timely and accurate data on foreign-financed development projects. Reports on implementation of the development budget and its financing are currently not produced in a format that is suitable for budget analysis because the necessary data are not available. The authorities are currently considering the introduction of a flash reporting system for government expenditure in general and for foreign aid-financed projects, in particular. As part of the GDDS regional project for Anglophone African countries, work has been undertaken to reconcile fiscal and monetary data and to improve the coverage and classification of the two data sets. With the current drive towards decentralization and the growing role of local government, there is an urgent need to compile and monitor the operations (and financial balance sheet data) for the consolidated general government. |
|
| Financial sector surveillance: Sierra Leone does not participate in the IMF’s Coordinated Direct Investment Survey (CDIS), Coordinated Portfolio Investment Survey (CPIS) and Financial Soundness Indicators (FSIs) databases. | |
| Monetary and Financial Statistics: The main components of the central bank balance sheet are available daily and weekly under the early warning system on key financial targets. The full monetary survey is compiled by the Bank of Sierra Leone (BSL) with a lag of about six weeks; it has comprehensive coverage of commercial banks. Significant progress has been made by the BSL in the compilation of monetary data. The BSL, with assistance from STA, has completed the migration to standardized report forms (SRFs) for the central bank and other depository corporations (ODCs). However, there is a need to expand the coverage of monetary and financial statistics by including data on other financial institutions. |
|
| External sector statistics: The BSL is responsible for compiling BOP and IIP statistics, which are currently prepared on an annual basis. Primary data sources are administrative-based data (BSL own records, line ministries, and Customs and Excise Department (Customs) records), partner-country and international organizations data, and the annual survey of major companies for estimates on services, income, and financial flows relating to direct, portfolio, and other investments. External transactions are characterized by a large volume of activities in the informal sector. Trade data include some estimates for unrecorded diamond exports—by deducting official diamonds export figures from trading partners’ official diamonds imports from Sierra Leone. Coverage issues also exist for services, primary and secondary income, and capital and financial accounts. Information on official grant and loan receipts is of generally good quality and is prepared by the IMF African Department (AFR) staff on the basis of contacts with the authorities and donor agencies. Data on private financial flows should be improved; Information on financial transactions of banks are obtained directly from commercial bank records; entries are estimated as differences in amounts of outstanding foreign assets and liabilities of commercial banks and may thus include valuation and other changes. While the authorities are producing data on the IIP, the coverage as well as the consistency with BOP data should be improved. |
|
| II. Data Standards and Quality | |
| Sierra Leone is participant in the General Data Dissemination System (GDDS) since 2003. | No data ROSC is available. |
| III. Reporting to STA | |
| Data are reported for publication in the Government Finance Statistics Yearbook, with the most recent data referring to 2012, but no sub-annual data are reported for inclusion in the International Financial Statistics. The BSL started reporting monetary data in the SRF-format to the IMF in April 2010. |
|
Sierra Leone: Table of Common Indicators Required for Surveillance May 2014
Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A); Irregular (I); Not Available (NA).
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Sierra Leone: Table of Common Indicators Required for Surveillance May 2014
| Date of Latest Observation | Date Received | Frequency of Data1 | Frequency of Reporting1 | Frequency of Publication1 | |
|---|---|---|---|---|---|
| Exchange Rates | 5/30/2014 | 05/30/2014 | W | W | W |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities2 | 03/31/2014 | 04/24/2014 | M | M | M |
| Reserve/Base Money | 03/31/2014 | 04/24/2014 | M | M | M |
| Broad Money | 03/31/2014 | 04/24/2014 | M | M | M |
| Central Bank Balance Sheet | 03/31/2014 | 04/24/2014 | M | M | M |
| Consolidated Balance Sheet of the Banking System | 03/31/2014 | 04/24/2014 | M | M | M |
| Interest Rates3 | 10/04/2014 | 05/5/2014 | M | M | M |
| Consumer Price Index | 03/31/2013 | 04/30/2014 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing – General Government | 12/31/2013 | 3/31/2014 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing– Central Government | 12/31/2013 | 3/31/2014 | M | M | M |
| Stocks of Central Government and Central Government-Guaranteed Debt | 12/31/2013 | 3/31/2014 | Q | Q | Q |
| External Current Account Balance | 12/31/2013 | 3/31/2014 | A | A | A |
| Exports and Imports of Goods and Services | 12/31/2013 | 3/31/2014 | A | A | A |
| GDP/GNP | 12/31/2013 | 3/31/2014 | A | A | A |
| Gross External Debt | 12/31/2013 | 3/31/2014 | A | A | A |
| International Investment Position4 | 31/12/2012 | 05/08/2013 | A | A | A |
Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A); Irregular (I); Not Available (NA).
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Sierra Leone: Table of Common Indicators Required for Surveillance May 2014
| Date of Latest Observation | Date Received | Frequency of Data1 | Frequency of Reporting1 | Frequency of Publication1 | |
|---|---|---|---|---|---|
| Exchange Rates | 5/30/2014 | 05/30/2014 | W | W | W |
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities2 | 03/31/2014 | 04/24/2014 | M | M | M |
| Reserve/Base Money | 03/31/2014 | 04/24/2014 | M | M | M |
| Broad Money | 03/31/2014 | 04/24/2014 | M | M | M |
| Central Bank Balance Sheet | 03/31/2014 | 04/24/2014 | M | M | M |
| Consolidated Balance Sheet of the Banking System | 03/31/2014 | 04/24/2014 | M | M | M |
| Interest Rates3 | 10/04/2014 | 05/5/2014 | M | M | M |
| Consumer Price Index | 03/31/2013 | 04/30/2014 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing – General Government | 12/31/2013 | 3/31/2014 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing– Central Government | 12/31/2013 | 3/31/2014 | M | M | M |
| Stocks of Central Government and Central Government-Guaranteed Debt | 12/31/2013 | 3/31/2014 | Q | Q | Q |
| External Current Account Balance | 12/31/2013 | 3/31/2014 | A | A | A |
| Exports and Imports of Goods and Services | 12/31/2013 | 3/31/2014 | A | A | A |
| GDP/GNP | 12/31/2013 | 3/31/2014 | A | A | A |
| Gross External Debt | 12/31/2013 | 3/31/2014 | A | A | A |
| International Investment Position4 | 31/12/2012 | 05/08/2013 | A | A | A |
Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A); Irregular (I); Not Available (NA).
Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
1
Formerly PRGF.
2
When a member has overdue financial obligations outstanding for more than three months, the amount will be shown in this section.
3
Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts cannot be added.
4
Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim.
5
The MDRI provides 100 percent debt relief to eligible member countries that qualified for the assistance. Grant assistance from the MDRI Trust and HIPC resources provide debt relief to cover the full stock of debt owed to the Fund as of 2004 that remains outstanding at the time the member qualifies for debt relief.