Sierra Leone Telegraph: 16 March 2021:
The IMF Executive Board yesterday announced that is has approved a US$50.37 million disbursement under the Rapid Credit Facility “to help meet the authorities’ urgent financing needs and support their continued response to the pandemic”, and address “the urgent balance of payments and fiscal needs stemming from the deep and persistent impact of the pandemic”.
According to the IMF statement; “The Government’s quick and decisive actions to contain COVID-19 prevented a larger outbreak and saved lives, yet they also came at an economic cost. Containment measures disrupted the transport of goods within the country, with a heavy impact on the services sector. At the same time, exports weakened significantly in 2020 due to weaker mining production and lower global demand.”