By Amin Kef
Contrary to recent widespread but unverified media reports, the International Monetary Fund (IMF) and the World Bank have not suspended their financial support to Sierra Leone. Official documents and public statements from both institutions, along with affirmations from Sierra Leone’s Ministry of Finance, confirm that the country’s partnerships with these global financial entities remain active and productive.
Allegations of funding cuts began circulating in local and international media in April 2025, with claims suggesting that both the IMF and the World Bank had halted disbursements due to concerns over budget overruns particularly in infrastructure-related spending. However, Finance Minister Sheku Ahmed Fantamadi Bangura promptly addressed these rumours, labeling them as “categorically false and misleading.”
Sierra Leone is currently operating under the IMF’s Extended Credit Facility (ECF), a structured financial assistance program worth US$248.5 million, initially approved in November 2024. According to the Finance Minister, the program, scheduled to run until November 2027, remains fully intact and continues to undergo periodic performance reviews as per standard IMF procedures.
While it is true that the IMF has expressed concerns over certain macroeconomic targets not being met, notably due to higher-than-expected spending on critical road and energy infrastructure, these developments have not resulted in a suspension of support. Instead, they triggered standard corrective engagements between IMF staff and Sierra Leonean authorities. These engagements, including a technical review mission in April 2025, were aimed at recalibrating the fiscal framework to bring it in line with program expectations.
Similar claims have surfaced regarding the World Bank, suggesting it too had suspended financial support to Sierra Leone. These claims also lack credibility.
In fact, the World Bank reaffirmed its commitment to the country as recently as December 2024, when it approved an $80 million financial support package.
This package includes:
• A $60 million grant for budget support and reforms in fiscal policy, public service delivery and energy efficiency.
• A $20 million Catastrophe Deferred Drawdown Option (Cat-DDO), a financial instrument that enables Sierra Leone to access rapid funding in the event of a natural disaster or economic shock.
These funds are explicitly targeted at enhancing Sierra Leone’s macroeconomic resilience, improving access to finance and advancing climate adaptation and energy sector reforms; all key elements in the country’s development trajectory.
Financial experts familiar with IMF and World Bank operations note that missing targets or engaging in corrective dialogue is a routine and expected part of any multi-year development agreement.
As long as there are no fundamental breaches, such as corruption, gross mismanagement or willful policy reversal, these institutions rarely withdraw support.
Furthermore, both the IMF and the World Bank have emphasized the importance of continued engagement and mutual accountability in their dealings with Sierra Leone. Their operations are guided by transparent performance frameworks and subject to continuous monitoring; ensuring both fiscal responsibility and developmental impact.
The Government has called on media practitioners and commentators to exercise greater responsibility and accuracy in their reporting. Spreading speculative and unfounded claims can have serious implications for investor confidence, donor relationships and the country’s economic stability.
“Such reports, when left unchecked, risk undermining the progress we have made and the strong partnerships we continue to enjoy with our international allies,” the Finance Minister said. “Let us prioritize facts over fear-mongering.”
Available evidence from official communications and funding approvals shows that Sierra Leone’s relationship with the IMF and the World Bank is not only ongoing but evolving positively. Active reviews, continued disbursements and policy dialogue are hallmarks of a healthy, working partnership not signs of collapse.
As Sierra Leone navigates the complexities of economic reform, infrastructure development and fiscal discipline, its international financial partnerships remain vital and unwavering. The narrative of funding suspensions, therefore, stands in sharp contrast to the facts; serving only to mislead the public and sow unnecessary panic.
For now, the record stands corrected: both the IMF and the World Bank continue to support Sierra Leone’s development agenda and no official suspension of funding has been enacted or communicated.
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