June 12, 2024

Sierra Leone requests COVID-19 financial assistance from IMF

Sierra Leone has requested a loan from the International Monetary Fund (IMF) to respond to COVID-19 pandemic and its economic ramifications.

“The COVID-19 pandemic is severely impacting the Sierra Leonean economy, threatening to wipe out the hard-won gains since the Ebola health crisis just five years ago,” IMF said in announcing the loan request in a statement on Wednesday.

“The sharp contraction in external demand, and disruptions to mining production and exports are straining the external and fiscal accounts.

“Proactive measures vital to contain the spread of the crisis are dampening economic activity.

“The already tight financing situation and fragile health sector, and vast development needs, limit the authorities’ ability to reallocate resources within and across sectors.”

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