An International Monetary Fund (IMF) mission led by John Wakeman-Linn visited Freetown during March 15–29, 2016 to conduct the fifth review under the Extended Credit Facility (ECF) and hold the 2016 Article IV consultation discussions.
At the conclusion of the visit, Mr. Wakeman-Linn issued the following statement:
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. The improvement reflects the pick-up 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 up-tick is expected in 2016 due to the depreciation of the Leone.