• Agreement follows tighter fiscal policy, reform progress after earlier delays
  
• IMF warns of reform fatigue, global risks despite improving economic outlook 

Sierra Leone could receive $78.8 million from the International Monetary Fund as part of ongoing reform programs, the institution's mission chief Christian Saborowski said.

In a statement published on Wednesday, the IMF announced that a staff-level agreement was reached with Sierra Leonean authorities following the first and second reviews of the program supported by the Extended Credit Facility.

"The first review of the ECF-supported program was delayed amid spending overruns, reserve depletion, and structural reform delays. Performance has since improved as the authorities tightened fiscal policy, maintained a prudent monetary policy stance, and completed structural reforms," the statement said.

Following the discussions, the IMF urged the authorities to accelerate the rebuilding of external reserves, strengthen fiscal discipline and continue structural reforms to stabilize the economy.

The country's economy continues to show good performance. In the medium term, growth is expected to reach 4.6%, while inflation would remain below 10%. However, the IMF warned of several risks that could cloud these prospects. Reform fatigue remains a concerning factor, even as adjustment needs remain significant.

Furthermore, a global economic slowdown, tighter international financial conditions and geopolitical uncertainty could weaken external demand and increase pressures on fiscal and external accounts.

For 2025, growth is expected at 4.4%, while inflation fell to 4.4% in October.

Ingrid Haffiny