One year to elections in 2007, the international financing agencies had virtually shut down all forms of support to the national budget of Sierra Leone because they lacked confidence in the former SLPP led government. Ten years on as the Ruling APC led government finds itself winding up its second term, President Koroma has once again shown the reason why he is so endeared to the rank and file of his party.
The International Monetary Fund (IMF) which blocked all support to SLPP-led government as SLPP wound up its second term in 2007, has yesterday Monday June 5th 2017, announced it was going to pour in a whopping sum of over $224million ( $224,200,000.00) dollars to help the APC-led government of Sierra Leone. Furthermore, the IMF in their announcement last evening, described the success of the Koroma led government fiscal post-Ebola policies to be as a show of “remarkable resilience”.
According to the IMF release, the Executive Board’s decision will enable a first immediate disbursement of over US$54million (fifty four million dollars). The remaining amounts will be phased over the duration of the 3-year program, subject to semi-annual reviews.
The IMF statement annex further went on to say “recovery is in progress” as it hailed thus: “Sierra Leone has shown remarkable resilience in overcoming the twin shocks of the iron ore export collapse and the Ebola virus disease epidemic. Growth has recovered to 6.1 percent in 2016 with resumption of iron ore production. Non-iron ore growth also performed better at 4.3 percent.”
We will publish the full statement in a subsequent edition.
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Newspaper in Freetown, Sierra Leone.