By Foday Moriba Conteh
Contrary to recent rumors and unsubstantiated media reports, the International Monetary Fund and the World Bank have not suspended financial support to Sierra Leone. Official statements from both institutions and confirmations from the Ministry of Finance make clear that the country’s partnerships with these global financial bodies remain strong, active, and productive.
Speculation about funding cuts surfaced in April 2025, fueled by claims that disbursements had halted due to concerns over budget overruns, especially in infrastructure spending. Finance Minister Sheku Ahmed Fantamadi Bangura swiftly dismissed these claims as “categorically false and misleading,” reassuring the public and stakeholders alike.
Sierra Leone continues to operate under the IMF’s Extended Credit Facility, a structured financial assistance program valued at US$248.5 million, approved in November 2024 and set to run through November 2027. While the IMF has noted some challenges with meeting certain macroeconomic targets, primarily because of higher-than-anticipated expenditure on roads and energy projects, these issues have not led to suspension of support. Instead, they prompted routine consultations and technical reviews, such as the mission conducted in April 2025, to realign fiscal policies and maintain program compliance.
Similar rumors about the World Bank withdrawing support are equally unfounded. The World Bank reaffirmed its commitment to Sierra Leone as recently as December 2024, approving an $80 million financial support package designed to boost fiscal reforms, public service delivery, and energy efficiency. This package includes a $60 million grant and a $20 million Catastrophe Deferred Drawdown Option, enabling rapid access to funds in the event of natural disasters or economic shocks. These initiatives underscore the institution’s dedication to enhancing Sierra Leone’s economic resilience, access to finance, and climate adaptation efforts.
Financial experts note that missed targets and corrective dialogue are standard elements of multi-year development programs. Withdrawal of funding typically occurs only in cases of severe breaches such as corruption or gross mismanagement, none of which apply here. Both the IMF and the World Bank emphasize transparent engagement, continuous monitoring, and mutual accountability to ensure fiscal responsibility and sustainable development outcomes.
The government has urged media outlets and commentators to exercise greater care and accuracy in reporting, warning that unfounded claims could damage investor confidence, strain donor relations, and destabilize the national economy. “Such reports risk undermining the progress we have made and the strong partnerships we continue to enjoy with our international allies,” Minister Bangura said. “Facts must take precedence over fear-mongering.”
Current evidence from official communications and funding approvals confirms that Sierra Leone’s collaboration with these financial institutions is ongoing and evolving positively. The continued flow of funds, active policy dialogue, and regular performance reviews highlight a healthy and functioning partnership, far from any notion of funding suspension.
As Sierra Leone advances through the challenges of economic reform, infrastructure development, and fiscal discipline, its relationships with the IMF and the World Bank remain vital and unwavering. The false narrative of funding withdrawal misleads the public and threatens to sow unnecessary anxiety. For now, the record is clear: both the IMF and the World Bank continue to stand firmly behind Sierra Leone’s development agenda with no suspension of support in place.
