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IMF approves $50 million for Sierra Leone to manage impact of the COVID-19 pandemic

Sierra Leone Telegraph: 16 March 2021:
The IMF Executive Board yesterday announced that is has approved a US$50.37 million disbursement under the Rapid Credit Facility “to help meet the authorities’ urgent financing needs and support their continued response to the pandemic”, and address “the urgent balance of payments and fiscal needs stemming from the deep and persistent impact of the pandemic”.
According to the IMF statement; “The Government’s quick and decisive actions to contain COVID-19 prevented a larger outbreak and saved lives, yet they also came at an economic cost. Containment measures disrupted the transport of goods within the country, with a heavy impact on the services sector. At the same time, exports weakened significantly in 2020 due to weaker mining production and lower global demand.” ....

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IMF Executive Board Approves US$50 million Disbursement to Sierra Leone to Address the Continuing Impact of the COVID 19 Pandemic - Sierra Leone

IMF Executive Board Approves US$50 million Disbursement to Sierra Leone to Address the Continuing Impact of the COVID 19 Pandemic
Format
The Sierra Leonean authorities’ quick and decisive actions mitigated the impact of the COVID-19 pandemic, helping prevent a larger loss of life and even deeper economic costs.
However, the pandemic will have long-lasting economic and social effects, and shrinking incomes, rising poverty, inequality, and food insecurity remain concerns.
To help meet the authorities’ urgent financing needs and support their continued response to the pandemic, the IMF has approved a US$50.37 million disbursement under the Rapid Credit Facility.
Washington, DC – March 15, 2021 The Executive Board of the International Monetary Fund (IMF) today approved the disbursement of SDR 35.26 million (US$50.37 million or 17 percent of quota) under the Rapid Credit Facility (RCF) to Sierra Leone to help meet the urgent balance of payments and fiscal need ....

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SLPP is providing bread and butter – says finance minister Saffa as households continue to struggle

Sierra Leone Telegraph: 02 March 2021:
As millions of people in Sierra Leone struggle to make ends meet, amid continuing economic decline, mass unemployment and rising inflation – caused by falling value of the Leone, poor export performance, and low private sector investments, Minister of Finance – Jacob Jusu Saffa, said in an article shared on social media yesterday that: “Reducing poverty or providing bread and butter remains the overarching objective of our economic management.”
Whilst his 5-page article – some say thesis, has once again stirred debate about the government’s ability to manage the economy and run the country, the finance minister is insisting that his policies and strategies are working, and continues to lay blame for the current economic woes on the previous government. ....

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SLPP is providing bread and butter

SLPP is providing bread and butter
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