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Agenda for Change

Agenda for Change

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Published by Andreas Karpati

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Published by: Andreas Karpati on Jun 16, 2012
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07/09/2014

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Since the end of the civil war in 2002, Sierra Leone has maintained macroeconomic stability, aided by
fiscal discipline and average aid inflows of 12% of Gross Domestic Product (GDP). The successful imple-
mentation of the first IMF-supported Poverty Reduction and Growth Facility (PRGF I) arrangement from
2001 to 2005, and the strong macroeconomic performance during the interim period resulted in a new
arrangement agreed in May 2006. With continued donor support, during the course of PRSP-I, Sierra
Leone achieved a relatively stable macroeconomic environment with strong economic growth, moderate
inflation, an improved current account balance, a comfortable level of foreign reserves, and a relatively
stable exchange rate. A sustainable external debt level was attained after completing and accessing
debt relief under the HIPC and MDRI Initiatives. This chapter outlines the set of programs and policies
to ensure macroeconomic stability throughout the PRSP-II period.

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