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Sierra Leone : Fourth Review Under the Three-Year Arrangement Under the Extended Credit Facility, and Financing Assurances Review:Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Sierra Leone.

Author: International Monetary Fund African Dept; International Monetary Fund
Publisher: Washington : International Monetary Fund, 2012.
Series: IMF Staff Country Reports.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
The discussions took place in Freetown during March 29?April 11, 2012; and in Washington (April 21?24, 2012). They focused on conditions for completing the fourth ECF review, corrective measures to be implemented to address fiscal slippages that had occurred in late 2011, and policies for the remainder of 2012. Key performance criteria for end-December 2011 were met. However, sizeable spending overruns resulted in a  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
African Dept., International Monetary Fund.
Sierra Leone : Fourth Review Under the Three-Year Arrangement Under the Extended Credit Facility, and Financing Assurances Review:Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Sierra Leone.
Washington : International Monetary Fund, ©2012
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: International Monetary Fund African Dept; International Monetary Fund
ISBN: 9781475513165 147551316X 1475513186 9781475513189
ISSN:2227-8907
OCLC Number: 1058489697
Language Note: English.
Description: 1 online resource (87 pages).
Contents: Cover; Contents; Abbreviations and Acronyms; Executive Summary; I. Recent Developments and Program Performance; II. Outlook and Risks; III. Policy Discussions; A. Fiscal Consolidation and Reform; B. Monetary and Exchange Rate Policies; C. External Debt Policy and Debt Management; D. Structural Reforms; IV. Program Monitoring and Capacity to Repay the Fund; V. Staff Appraisal; Figures; 1. Real and External Sectors, 2008-12; 2. Fiscal Sector, 2008-12; 3. Monetary and Financial Sectors, January 2008-June 2012. 4. Indicators of Public and Publicly Guaranteed External Debt under Alternative Scenarios, 2012-32Tables; 1. Selected Economic Indicators; 2. Fiscal Operations of the Central Government; 3. Fiscal Operations of the Central Government (Percent of Non-Iron Ore GDP); 4. Monetary Accounts; 5. Balance of Payments; 6. Indicators of Capacity to Repay the Fund; 7. Actual and Proposed Disbursements under the ECF Arrangement, 2010-13; 8. Millennium Development Goals; 9. Financial Soundness Indicators of the Banking System, 2005-11; Box; 1. Corrective Fiscal Measures at end-June 2012; Appendix. I. Letter of IntentAttachment I. Memorandum of Economic and Financial Policies for 2012; Attachment II. Technical Memorandum of Understanding; Contents; I. Relations with the Fund; II. Joint World Bank-IMF Work Program, 2012-13; III. Statistical Issues.
Series Title: IMF Staff Country Reports.

Abstract:

The discussions took place in Freetown during March 29?April 11, 2012; and in Washington (April 21?24, 2012). They focused on conditions for completing the fourth ECF review, corrective measures to be implemented to address fiscal slippages that had occurred in late 2011, and policies for the remainder of 2012. Key performance criteria for end-December 2011 were met. However, sizeable spending overruns resulted in a higher-than-programmed fiscal deficit, financed by an increase in unpaid bills. Implementation of structural reforms was mixed, with some measures postponed to 2012. The authorities implemented all prior actions agreed with staff during the fourth ECF review discussions. Staff recommends completion of the fourth ECF review and the review of financing assurances.

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