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HomeNewsIMF delegation affirms support for Sierra Leone’s public investment management system

IMF delegation affirms support for Sierra Leone’s public investment management system

Sierra Leone Telegraph: 13 April 2022:

Last Friday, 8th April 2022, the visiting International Monetary Fund (IMF) Mission to Sierra Leone, led by Sukhwinder Singh – Advisor, African Department; and the IMF Resident Representative – Monique Newiak, met with the country’s Ministry of Planning and Economic Development (MoPED) to further discuss the Public Investment Management (PIM) system and assuring MoPED of their continued support.

Sukhwinder Singh while expressing his appreciation to the Minister and his Team for the warm welcome, noted the productive engagement they held with President Dr Julius Maada Bio, on his government’s progress made in governance, particularly with regards IMF programmes.

He commended government’s strides made so far in meeting the structural benchmarks of the IMF and in managing the Sierra Leone economy, amidst the COVID-19 pandemic and other global shocks, but called on the government to explore alternative revenue sources and to streamline public expenditures.

Dr. Francis Kai-Kai, the MoPED Minister, spoke about progress made so far in implementing Sierra Leone’s Public Investment Management Assessment (PIMA) which was conducted with support from the IMF and the World Bank.

He said that his ministry has produced a National Public Investment Management Policy (NPIMP) as well as a Pre-Investment Guide which has enabled Sierra Leone to meet the Extended Credit Facility (ECF) Structural Benchmark on public investment for the ongoing review.

Dr. Kai-Kai noted that the Ministry has also produced, on an annual basis the Public Investment Program (PIP) for Ministries, Departments and Agencies as part of the national budgeting process, adding that the PIP would also be rolled-out to local councils in the 2023 financial year.

The Minister presented to the Mission, brochures showing the eight policy clusters of the Medium-Term National Development Plan (MTNDP) 2019-2023.