Sierra Leone: Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Financing Assurances Review, and Request for Waivers of Nonobservance of Performance Criterion, Extension of the Arrangement, and Rephasing of Disbursements-Staff Report; Staff Supplement and Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Sierra Leone

International Monetary Fund

No 2008/249, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the Second Review Under the Poverty Reduction and Growth Facility (PRGF) program for Sierra Leone. Performance under the IMF-supported program was mixed. Output growth was strong at 6.8 percent and broad-based, but key fiscal revenue and spending objectives were missed, and progress on the structural reform front was slow. The authorities’ program for 2008 aims to mobilize more domestic revenue; reorient public spending to infrastructure projects and poverty-reducing programs; prevent rapid accumulation of public debt; and accelerate implementation of structural reforms.

Keywords: ISCR; CR; staff appraisal; authority; PRGF arrangement; vote controller; National Anti-Corruption Strategy; year-on-year headline inflation; Capital spending; Structural reforms; Total expenditures; Global (search for similar items in EconPapers)
Pages: 82
Date: 2008-07-25
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