FREETOWN, Nov. 27 (Xinhua) -- The government of Sierra Leone has expressed optimism following a recent announcement of the International Monetary Fund (IMF) over a staff-level agreement on the first and second reviews of the Extended Credit Facility program.
This agreement is expected to pave the way for the release of 78.8 million U.S. dollars in financial support to bolster the nation's economic recovery.
"This agreement is a clear recognition of our consistent efforts to strengthen our economy and manage our resources effectively," Finance Minister Sheku Ahmed Fantamadi Bangura said during an official statement.
He emphasized that the funding will be directed towards essential social services, infrastructure development, and initiatives aimed at protecting vulnerable populations across the country.
The IMF's announcement precedes the presentation of the 2026 national budget by the Minister of Finance, scheduled for Friday.
The budget is anticipated to reflect the government's commitment to stability-driven policies and reforms that not only prioritize social welfare but also promote sustainable economic growth.
The ministry acknowledged that while this achievement represents significant progress, ongoing challenges remain, particularly in the wake of global economic uncertainties and domestic recovery needs stemming from the COVID-19 pandemic.
Nevertheless, the government remains optimistic about utilizing this financial support to create a resilient economic environment and elevate the living standards of its citizens. ■
