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President Bio Pleases International Partners

26,Jun 2018
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One of Sierra Leone’s key international partners, International Monitory Fund (IMF) is all pleased with the leadership of His Excellency President Julius Maada Bio (Brigadier Retired) so far.

An IMF delegation recently visited Sierra Leone in June this year. The main purpose of the mission, according to our sources, was to conduct an assessment of the economy inherited by President Bio’s government.

At the end of the visit, the IMF commended the Sierra Leone government for the efforts taken so far to restore economic stability and discipline.

On the stock take, IMF discovered that the economy is facing several challenges with over 10.7 trillion leones of arrears owed to contractors, a budget deficit of over 1.8 trillion, a GDP rate as low as 3.2% compared to the projected 6.3% and inflation at the upper double digit of 15%.

Domestic and external debt as at March was over 2.0 billion dollars. Put together, the arrears plus public debt are almost 88% of Sierra Leone’s GDP.

President Julius Maada Bio reassured the visiting team of his commitment to discipline and efficient management of the economy. He also promised to increase revenue mobilization and streamline expenditure.

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