THE IMF executive board on Thursday gave preliminary approval to a three-year credit worth $169-million for Sierra Leone to help the conflict-riven West African nation fight poverty. Final approval for the credit, called a poverty reduction and growth facility, will come with action by the World Bank, the International Monetary Fund’s sister institution. The bank’s executive board is due to convene on September 25. With a final decision, Sierra Leone will be able to draw on about $6-million immediately. “The Fund welcomes the progress in consolidating the peace process in Sierra Leone after a protracted civil war that caused enormous suffering and loss of life,” said IMF deputy managing director Eduardo Aninat. “The authorities have prepared a medium-term economic program aimed at enhancing growth and addressing … the desperate poverty situation that now confronts the overwhelming majority of the people of Sierra Leone.” He said the priorities for the government were to complete the disarmament, demobilisation and reintegration of ex-combatants, re-settle refugees and boost economic activity. – AFP
Thursday September 20, 2001