By Hassan Osman Kargbo
Sierra Leone’s Minister of Finance, Sheku Ahmed Fantamadi Bangura, is leading a high level delegation to the 2026 Spring Meetings of the International Monetary Fund and the World Bank Group in Washington DC, where global economic issues and development priorities are under discussion.
The meetings, taking place from April 13 to 18, have brought together finance ministers, central bank governors, development partners, investors, civil society representatives and academics from across the world to assess the state of the global economy and explore solutions to emerging challenges.
Minister Bangura is accompanied by senior government officials including the Ministers of Energy and Basic and Senior Secondary Education, the Financial Secretary, as well as the Governor and Deputy Governor of the Bank of Sierra Leone. Chief economists from both the Ministry of Finance and the central bank are also part of the delegation.
On the sidelines of the meetings, the Finance Minister began a series of engagements with key international partners. In his first discussion with the Director of the Fiscal Affairs Department of the IMF, he conveyed appreciation on behalf of President Julius Maada Bio for the continued technical assistance provided to Sierra Leone.
He noted that the support has contributed significantly to reforms in public financial management, including the review of the Public Financial Management Act 2016 and the Public Procurement Act 2016, improvements in cash management and forecasting, and the transition to Government Financial Statistics 2014 standards.
Minister Bangura highlighted that the government has implemented sound economic policies over the past two years, resulting in improvements in key macroeconomic indicators. These include lower inflation, a more stable exchange rate, a positive primary balance and relatively sustainable interest rates on government securities.
Despite these gains, he cautioned that the ongoing crisis in the Middle East poses a serious risk to recent progress, with the potential to disrupt global markets and impact Sierra Leone’s economy.
He therefore called for continued support from the Fiscal Affairs Department, particularly in strengthening capacity within the mining sector. He identified priority areas such as transfer pricing, the implementation of advance pricing agreements, review of the Income Tax Act 2000 and Excise Act 1998, and the mid term review of the Medium Term Revenue Strategy 2023 to 2027.
The IMF official commended the government’s reform efforts and assured the Minister of continued collaboration, noting that the requests would receive positive consideration.
In a separate meeting with the IMF country team, Minister Bangura discussed recent economic developments and the implications of the Middle East crisis on Sierra Leone’s economic outlook. He pointed out that the crisis has created challenges within the framework of the Extended Credit Facility arrangement with the IMF.
He explained that the government is taking steps to mitigate the impact and sought clarity on the level of support available to developing countries.
IMF Mission Chief Christian Saborowski acknowledged the difficult global environment and its potential effects on food security and poverty. He advised that Sierra Leone should remain focused on meeting its performance targets and structural benchmarks to ensure the successful completion of the third programme review by June 2026.
Minister Bangura also met with Dr Zarau W Kibwe, Executive Director for the Africa West One Constituency at the World Bank Group. Discussions focused on possible support mechanisms to cushion the impact of the global crisis, including the use of the Rapid Response Option.
He noted that Sierra Leone’s country portfolio is performing well and expressed optimism about ongoing efforts to sustain economic stability despite global uncertainties.
