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IMF Country Report No. 24/322

SIERRA LEONE

SELECTED ISSUES

November 2024

This paper on Sierra Leone was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on October 16, 2024.

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Title page

SIERRA LEONE

SELECTED ISSUES

October 16, 2024

Approved By

The African Department

Contents

• MOBILIZING MINING REVENUE IN SIERRA LEONE

• A. Mining in Sierra Leone: An Overview

• B. Mining Revenues and the Fiscal Regime

• C. Current Issues in Mining Resource Revenue Mobilization

• D. Conclusion and Policy Discussion

• References

• SOCIAL SPENDING IN SIERRA LEONE

• A. Introduction and Overview

• B. Trends in Social Indicators

• C. Existing Social Spending Programs in Sierra Leone

• D. Adequacy and Efficiency of Existing Social Spending

• E. Medium-Term Financing of Developmental Goals

• F. Conclusion and Policy Recommendations

• ANNEXES

• I. Indicators of Socio-Economic Well-Being

• II. Main Social Spending Programs

• III. School Feeding Program

• IV. Coverage and Adequacy of SSN Program

• V. Efficiency of SSN Programs

• VI. Efficiency of Health and Education Spending

• VII. Execution of Education Expenditure Relative to Budget Allocation

• VIII. Execution of Health Expenditure Relative to Budget Allocation

• IX. SDG Financing Scenarios

• References

• CLIMATE CHANGE AND FOOD INSECURITY: OPTIONS FOR BUILDING RESILIENCE IN SIERRA LEONE

• A. Introduction

• B. Climate Risks in Sierra Leone

• C. Assessing the Potential Impact of Climate Shocks on Food Security

• D. Policy Options

• E. Conclusion and Policy Recommendations

• ANNEXES

• I. Building Resilient Infrastructure

• II. The Frequency and Impact of Mudslides in Freetown

• III. A summary of Spatial Model of Food Insecurity

• IV. Model Calibration

• V. Impulse Response Functions

• References

• INFLATION AND MACROECONOMIC POLICY IN SIERRA LEONE

• A. Introduction

• B. The Consumer Price Index and the Recent Surge in Inflation

• C. Estimating the Effect of Macroeconomic Policy on Inflation

• D. Conclusion and Policy Recommendations

• BOX

• 1. Summary of Selected Empirical Studies of Inflation

• References

• TRADE COSTS AND FACILITATION IN SIERRA LEONE

• A. Introduction

• B. Background

• C. Potential Gains from Reducing Costs and Facilitating Trade

• D. Framework for Reform

• E. Key Areas for Reforms

• F. Conclusions

• APPENDICES

• I. The Trade Model

• II. Results of a Seven Percent Reduction in NTM

• References

• GENDER EQUALITY: TAKING STOCK AND IDENTIFYING FUTURE OPPORTUNITIES

• A. Introduction

• B. Gender Equality in Outcomes and Representation

• C. Gender Gaps in Opportunities

• D. Gender-Based Violence and Harmful Practices

• E. Conclusions and Policy Recommendations

• ANNEX

• I. Key Targets Under the MTNDP

• References

• COMBATTING GENDER-BASED VIOLENCE AND FOSTERING DEVELOPMENT

• A. Motivation

• B. Stylized Facts: Incidence of Gender-Based Violence in Sierra Leone

• C. The Economic Case for Reducing Violence against Women

• D. Drivers of Intimate Partner Violence

• E. Conclusion: Remaining Constraints and Policy Recommendations

• ANNEXES

• I. Gender-based Violence, by Factor Category within the Ecological Model of Health

• II. Legislative Framework

• References