IMF conducts 2016 Article IV consultation discussions in Sierra Leone

Sierra Leone's GDP is expected to grow by 4.3 percent this year.
Sierra Leone's GDP is expected to grow by 4.3 percent this year. | File photo

A group from the International Monetary Fund (IMF) led by John Wakeman-Linn recently conducted the 2016 Article IV consultation discussions in Sierra Leone.

Following the conclusion of the consultation, Wakeman-Linn delivered a statement about the state of Sierra Leone’s economy.

“Sierra Leone’s economy is recovering from the twin shocks of the Ebola virus epidemic and the halt in iron-ore mining. Economic momentum is building again, and GDP is expected to grow by 4.3 percent this year from a contraction of 21 percent in 2015,” Wakeman-Linn said. “The improvement reflects the pickup in economic activities following the end of Ebola, and the resumption of iron ore mining early this year. Inflation remained stable at 8.5 percent in 2015, but a small uptick is expected in 2016 due to the depreciation of the Leone.”

Wakeman-Linn went on to say that Sierra Leone could see 5 percent growth rates moving forward in the medium term, from 2017-19. IMF expects this to occur based off of the implementation of a wide range of post-Ebola recovery initiatives and expected improvement in the external environment.

“The IMF mission wishes to express its gratitude to the Sierra Leonean authorities for the constructive discussions and hospitality during its visit to Freetown,” Wakeman-Linn said.

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