L
LequteMan
Guest
According to its Deputy Managing Director, Mr. Min Zhu, the International Monetary Fund (IMF) has approved 95.9 million dollars three-year Extended Credit Facility (ECF) arrangement for Sierra Leone.
He stated this in a report released on Tuesday at the end of the Fund’s Article 4 consultation in Sierra-Leone.
ECF supported-programmes seek to facilitate high quality public investment and growth enhancing reforms in the context of macro-economic stability.
“The overall amount for the ECF programme represents 60 per cent of Sierra Leone’s quota in the IMF and enables the immediate disbursement of 13.7 million dollars,’’ he said.
He said that Sierra Leone had achieved strong macro-economic gains in recent years due to iron ore production, and added that continued effort was needed to strengthen policy implementation, especially in the fiscal area.
According to him, the authorities’ plan to strengthen public financial management remains appropriate, to enhance revenue mobilisation, improve spending controls, and reduce domestic debt. (NAN)
