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Sierra Leone: Sixth Review Under the Extended Credit Facility Arrangement, Financing Assurances Review and Request for Waiver for Nonobservance of Performance Criteria-Press Release; and Staff Report
Author:
International Monetary Fund. African Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2016: Issue 378
Language:
English
Publication Date:
22 Dec 2016
DOI:
https://doi.org/10.5089/9781475559798.002
ISBN:
9781475559798
ISSN:
1934-7685
Pages:
60
Keywords:
ISCR; CR; priority infrastructure project; leone; fuel; Sierra Leone's ECF arrangement; fund; debt policy; economic reform program; retail price; Budget planning and preparation; Imports; Global
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This paper discusses Sierra Leone’s Sixth Review Under the Extended Credit Facility (ECF) Arrangement, Financing Assurances Review, and Request for Waiver for Nonobservance of Performance Criteria. Growth is expected to reach 6.5 percent in the medium term. However, risks to the outlook are firmly to the downside. Revenues are too low to finance key infrastructure projects. Iron ore production has become moderately profitable, but there is downside risk to iron ore prices. The IMF staff supports the authorities’ request for completion of the sixth (last) review of the ECF arrangement, as well as the request for a waiver for nonobservance of the continuous performance criteria on nonintroduction of multiple currency practices.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund