Sierra Leone’s Minister of Finance, Sheku Ahmed Fantamadi Bangura, has intensified diplomatic and economic engagements at the 2026 IMF/World Bank Spring Meetings in Washington, D.C., seeking urgent international backing to cushion the country against the potential economic shocks arising from the ongoing conflict in the Middle East.
Leading a high-powered Sierra Leone delegation, the Finance Minister is participating in the global meetings taking place from April 13 to 18, where finance leaders, central bank governors, development institutions, investors, academics and civil society actors are reviewing the state of the world economy and emerging international risks.
The Sierra Leone delegation includes senior Government officials such as the Ministers of Energy and Basic and Senior Secondary Education, the Financial Secretary, the Governor and Deputy Governor of the Bank of Sierra Leone, alongside top economists from both the Ministry of Finance and the central bank.
During a strategic bilateral meeting with the IMF’s Fiscal Affairs Department (FAD), Sheku Ahmed Fantamadi Bangura conveyed President Julius Maada Bio’s appreciation for the institution’s continued technical support to Sierra Leone’s public financial management reforms. He highlighted key areas of collaboration, including the review of the Public Financial Management Act 2016, reforms to the Public Procurement Act 2016, improvements in cash management and forecasting, as well as the country’s migration to Government Finance Statistics 2014 standards.
The Minister underscored that the Government’s disciplined economic policies over the past two years have produced encouraging macroeconomic outcomes, including easing inflationary pressures, relative exchange rate stability, a stronger primary balance position and sustainable yields on Government securities.
However, he warned that the escalating Middle East conflict now poses a significant threat to those hard-won gains, particularly through possible disruptions in global commodity prices, energy markets, food imports and fiscal stability.
Against that backdrop, the Minister urged the IMF’s Fiscal Affairs Department to deepen its support in strategic revenue-generating sectors, especially mining taxation reforms. He specifically called for enhanced technical assistance in transfer pricing systems, advance pricing agreements, safe harbour regimes, amendments to the Income Tax Act 2000 and the Excise Act 1998, as well as the mid-term review of Sierra Leone’s Medium-Term Revenue Strategy 2023–2027.
In response, the Director of the Fiscal Affairs Department commended the Minister’s leadership in advancing fiscal reforms and reaffirmed the IMF’s commitment to continued collaboration, indicating that Sierra Leone’s requests would receive positive consideration.
The Finance Minister also held crucial discussions with Sierra Leone’s IMF country team, including Mission Chief Christian Saborowski, focusing on the possible economic spillover effects of the Middle East conflict.
During the meeting, Sheku Ahmed Fantamadi Bangura noted that the crisis has introduced serious uncertainties into the implementation framework of Sierra Leone’s Extended Credit Facility (ECF) programme with the IMF. He informed the team that Government is already deploying measures to reduce the shock on the economy and sought clarity on possible IMF support mechanisms available to vulnerable developing economies.
Christian Saborowski acknowledged the difficult global environment confronting low-income countries and warned of the likely implications for food security and poverty levels. He nevertheless advised Sierra Leone to remain focused on meeting the programme’s Quantitative Performance Criteria and Structural Benchmarks by the end of April, a key condition for the successful completion of the third ECF review in June 2026.
On the World Bank front, the Finance Minister also met with Dr Zarau W. Kibwe, Executive Director for the Africa West I Constituency, where discussions centred on possible emergency support instruments for countries impacted by the crisis.
The Minister informed the Executive Director that Sierra Leone’s World Bank portfolio remains on a strong performance trajectory and disclosed that discussions are already underway on deploying the Rapid Response Option (RRO) to help soften the domestic effects of the Middle East crisis.
The engagements underscore Sierra Leone’s proactive diplomatic and fiscal strategy to shield its economy from external shocks while preserving the gains made under ongoing macroeconomic reforms.
