At the IMF/World Bank Annual Meetings in Washington on October 23, 2024, Sierra Leone’s Finance Minister, Sheku A.F. Bangura, sought UK backing for economic initiatives aimed at strengthening fiscal stability. He emphasized Sierra Leone’s commitment to structural reforms, reserve building, and fiscal accountability, while UK representative Nick Dyer voiced the UK’s support and raised concerns over potential challenges with the upcoming IMF Extended Credit Facility.
Governor Ibrahim Stevens highlighted the need for increased liquidity, private-sector lending, and stronger bank regulations. Minister Bangura addressed energy subsidy concerns, advocating a shift towards cleaner energy. Financial Secretary Mathew Dingie presented efforts to simplify business registration to boost entrepreneurship, and Stevens showcased digitalization advances in Sierra Leone’s tax collection system.
Dyer praised recent business environment improvements in Sierra Leone, noting British International Investment’s £100 million investment and stressing transparency for future growth. These reforms, Stevens affirmed, are geared toward financial inclusion and a resilient economic foundation for Sierra Leone.
