The economic situation has remained difficult, because of the adverse impact of armed conflict in the north and east on agricultural production and diamond and gold mining operations. These efforts have been severely constrained by the limited availability of budgetary and technical resources. Since March 1998, the government’s efforts have focused on restoring peaceful conditions to the country, resettling displaced persons, and rehabilitating infrastructure. The International Monetary Fund (IMF) has approved a loan for the Republic of Sierra Leone equivalent to SDR 11.58 million (about US$16 million) under its emergency post conflict assistance policy 1 to support the government’s economic program for 1998/89 (July-June).ĭuring the nine-month period of military rule that followed the coup d’état in Sierra Leone, there was widespread displacement of the population, as well as looting, destruction of the economic and social infrastructure, and major dislocation of the financial system.Įconomic activity was seriously affected, contributing to a collapse in the revenue base and to significant increases in the budget deficit, bank financing, and domestic and external payment arrears. Press Release: IMF Approves Emergency Post Conflict Assistance for the Republic of Sierra Leone
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